Reasons to have a surveyor London do a Survey on a new property
Before you initiate the buying process for a new property, you should get a Building surveyor London to survey it. The survey will bring to your attention several factors that an untrained eye would find difficult or impossible to detect. If there is any work that needs to be completed, this will be evident.
It is not a legal obligation to get a survey completed, only a highly recommended thing to do as most people are not in a position to survey the building themselves. Leaving the whole thing to chance is a risky decision.
One of the biggest benefits of having a survey completed before purchase of a property is the money that it can save you by identifying what are sometimes very costly defects within the building structure. Repairs too structural defects can cost a lot due to the difficulty in accessing them.
When someone sells a property, they sometimes get a Home Condition Report prepared. This is often part of the Home Information Pack that the seller is obligated to get done when he or she is selling the property. The Home Condition Report will offer at least some guidance on the property condition, but it is nothing like getting your own survey completed.
On the buyer’s side of the deal, there are three surveys that can be selected. They are the Valuation Survey, the Home Buyers Report and the Building Survey.
The Valuation Survey is conducted on behalf of the institution that is fronting the money for the property. This is a survey conducted only to establish market value for the property and should not be confused with a proper building survey. The bank or building society wants to be sure that the building is worth the asking price. This way they can be more certain of the mortgage viability.
A Home Buyer Survey is a simple survey that will be carried out by a surveyor London and will provide several details regarding property condition and any particular defects. It will also offer a valuation.
The Building Survey costs more than the Home Buyer Survey but in this, the surveyor London will look in much greater detail and will not only report on structural defects but will also inform about the cost of repairs. The surveyor London will also see of there is any work that would be needed within the following 6 months of the survey.
