In this article, Conveyancing Executive Natalie Neil discusses property surveys.
She looks at the types of surveys, what will be checked, the costs involved, choosing a surveyor and more.
What is a property survey?
The inspection of land or property to examine the condition, carried out by a surveyor.
A survey is usually conducted to highlight any issues or defects that a property may have, so that these problems can be addressed promptly.
Property issues can become worse and more expensive over time, so it’s important that a surveyor examines the property as soon as possible.
When are property surveys done?
A survey will normally take place once your offer on the property has been accepted.
Any survey must be done before exchange of contracts for the purchase. You are unlikely to have any claim for defects discovered afterwards.
Do I need a property survey?
It’s definitely a good idea. Having a survey done allows you to become aware of any problems before you purchase a property.
Without a survey, you’d be ‘going in blind’ and be unaware of issues that could cost you a lot of money.
You want to take the costs of resolving issues (e.g. damp problems) into account, before purchasing a property.
If the survey uncovers any major work that needs to be carried out, you may be able to negotiate with the seller to get a reduction on the purchase price. Without a survey, you wouldn’t know if there were any issues, big or small, with the property!
Conveyancing Executive Natalie Neil says: “We recommend you always get a survey on a property purchase. Paying out a few hundred pounds for this service could potentially save you thousands in the future.”
What if the property is covered by a NHBC Agreement?
New houses are normally covered by a National House Builders Council (NHBC) Agreement/Guarantee. This covers major structural items for 10 years and lesser items for 2 years. You should, however, still consider whether you wish to have a survey.
What will a surveyor check?