Buying a property has always been regarded as a significant task. Several types of research are done on and around the property before purchasing to avoid any challenges in the future. One such task before purchasing a house is to conduct a house survey.
Experts conduct a home buyer survey to inspect the physical state of any property. The surveyors inspect the property’s condition and inform you of minor structural issues you must resolve. The report obtained from the survey provides expert commentary on every aspect of the property.
Conducting a house survey before purchasing any property is recommended to avoid unwanted surprises from the property, like unexpected maintenance work. A survey lets you reconsider your decision to purchase or renegotiate the property’s price accordingly.
A home survey provides you with unbiased information when you are purchasing an old property. You can conduct a house survey when unsure about the property’s condition or have specific queries about any part of the property so that you can ask the seller to fix it.
In this article, I will discuss everything you need to know about house surveys in the property purchasing process that enables you to make precise decisions before buying any property.
This article will answer questions like:
- Is it worth getting a HomeBuyers survey?
- What are the types of survey when buying a house?
- How to get a home buyer survey?
- What to do if HomeBuyers survey uncovers problems?
Let’s get started!
Types of Home Buyer Survey
There are several different types of property surveys. However, Money spent on a decent survey can be very beneficial as it enables you to avoid expensive and unwanted challenges after owning the property.
If you purchase an older property, conducting more than just a primary survey is recommended as it uncovers unexpected challenges.
Here are a few different levels of property surveys that you can conduct:
1- RICS Homebuyer Report
A homebuyer report is a survey conducted for conventional properties in reasonable condition. It enables you to discover if there are any structural problems, such as dampness in the property.
Some homebuyers’ reports include a property valuation, which allows you to renegotiate your offer if the survey reveals a lower price than the earlier valuation.
2- RICS Condition Report
The condition report is a survey that presents the condition of the property by identifying any potential risks involved with the property. It also highlights potential legal issues or other urgent defects that need to be addressed instantly.
This survey report provides no valuation or advice, making it the most suitable survey for conventional homes in a good combination.
Also See: Does Conveyancing Include Surveys
3- Complete Structural Survey
A complete structural survey is a comprehensive survey suitable for all residential properties. It provides valuable insights, which makes it quite helpful for properties that need repairs.
The extensive report includes the surveyor’s opinion on the hidden defects with potential repair options.
4- New-Building Snagging Survey
A new building snagging survey is an independent inspection to look for any issues with the property. It is quite beneficial for you as it enables the developers to rectify the mistakes before you move in.
How to Get a House Survey?
A proficient surveyor researches the history of the deed to ensure that everything is clear regarding the property.
Here is a list of things to do to conduct a house survey:
- Ask for referrals and recommendations from friends and family to hire a proficient surveyor.
- Check whether the hired surveyor is registered with RICS. The RICS guarantees that all the members associated with it maintain professional standards in work.
- Ensure the survey report contains all the essential information that benefits the property.
It is recommended to read the terms of engagement the property surveyors provide you before hiring the services, as it lets you know what surveyors would be conducting.
Also read: Conveyancing Help For First Time Buyers
You need to be in direct contact with the property surveyor undertaking the property surveys to clear your doubts without wasting time if needed.
The time taken to conduct a property search depends entirely on the size of the property and the type of property survey you want to be conducted.
What to do if Your Survey Uncovers Problems?
It is quite common to see some issues in the property survey, especially if the property under sale is old. You can ask the surveyor any queries in the report to get a comprehensive overview of the property and learn about the issues and their implications.
If the survey report uncovers any such issue, whether minor or significant, that requires further investigation; the surveyor suggests suitable solutions to fix them as soon as possible.
Here are some of the most common issues that you need to investigate after conducting a survey:
- Electrical installation to ensure that the property is safe from any accident caused due to poor wiring
- Dampness and other such issues to ensure that the property is in an excellent physical condition
- Rotten door and window frames to ensure that the property is safe from any anti-social activity
The problems uncovered in the survey report can be used to renegotiate the property’s price. However, keeping the revised price in line with the costs of the work needed is recommended. Before signing the contract, you can quickly contact the estate agent with the revised offer to make the deal more affordable.
Another possible step is to ask the seller to fix all these problems uncovered in the survey report before finalizing the deal and moving into the property, saving you from all the difficulties that repair work would cause.
Thus, you can be reassured if some problems are revealed in the survey report. You can take suggestions from your conveyancing solicitor or surveyor to make a precise decision about the property.
A house survey has a significant role in the house conveyancing process as it helps the purchaser to avoid unwanted costs that the repair work would cause. It enables you to renegotiate the property’s price, making it more affordable.
I hope this article gives you a clear understanding of the need to conduct a house survey for buyers and helps you significantly during the property purchasing process so that you can have the house of your dreams without facing challenges in the future.