Purchasing a property is a significant task that requires thorough research to avoid future challenges. One of the essential tasks before buying a house is conducting a Home Buyer Survey.
A Home Buyer Survey involves a detailed inspection of the property‘s physical condition by expert surveyors. They identify any minor structural issues that need attention and provide a comprehensive report with detailed commentary on every aspect of the property.
Conducting a house survey before purchasing a property is highly recommended to avoid such as unexpected maintenance work. It gives you a chance to reconsider your decision or negotiate the property‘s price based on the survey findings, giving you the most accurate description of the property.
Home surveys are especially valuable when buying an older property, as they provide unbiased information about its condition and help you address specific concerns with the seller.
There are multiple options to choose from when deciding which Property Survey to use, and investing in the right one can save you from expensive challenges after purchasing the property. Following are some of the common types of Home Buyer Surveys:
- RICS Homebuyer Report: Suitable for conventional properties in reasonable condition, this survey helps identify structural problems like dampness. It may also include a property valuation, allowing you to renegotiate your offer based on the findings.
- RICS Condition Report: Focused on presenting the property’s condition, this report highlights potential risks and urgent defects. It does not include a valuation and is ideal for homes in good condition.
- Complete Structural Survey: Applicable to all residential properties, this comprehensive survey is beneficial for homes that require repairs. It provides the surveyor’s opinion on hidden defects and offers an array of repair options.
- New-Building Snagging Survey: Designed for new properties, this independent inspection identifies issues before you move in, giving developers a chance to fix any mistakes.
How to Get a House Survey:
Here is a list of things to do to conduct a House Survey
- Seek referrals from friends and family to find a proficient surveyor.
- Verify that the surveyor is registered with RICS for professional standards.
- Review the survey report to ensure it contains essential information.
- Understand the terms of engagement provided by the surveyor.
It is advised to maintain direct communication with the surveyor during the process to clarify any doubts promptly. The survey duration depends on the property‘s size and the type of survey conducted.
What to Do if your Survey Uncovers Problems:
It is fairly common for surveys to reveal issues, especially with older properties. If the Survey Report identifies any, you can ask the Surveyor for further information and insights into their implications. In such cases, you have a few options to explore. You could:
- Renegotiate the property’s price, considering the repair costs.
- Ask the seller to address the issues before finalising the deal.
- Seek advice from your Conveyancing Solicitor or Surveyor for an informed decision.
A Home Buyer Survey is a vital step in the property purchasing process. It provides valuable insights, helps you avoid potential costs and challenges, and empowers you to make informed decisions. Prioritise a Home Buyer Survey when buying any property to secure your investment and make your dream home a reality, without any unexpected difficulties.