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Surveys

Surveys

Unless you buy a new house from a builder, you have no come-back against the seller if there is something wrong with the property. A proper survey by a good surveyor is vital in nearly every case. Everyone buying a house is spending a large sum of money and the cost of repairs can be high. It is therefore sensible to obtain a survey of the property before you commit yourself by exchanging contracts. Very roughly, there are three levels of survey.

Lender's valuation

This is a very basic survey of the property and is normally carried out by a lender to check that the property is worth the amount of the proposed loan. The surveyor will inspect the building, inside and out, but the report will not be particularly detailed. The surveyor should report on the age and type of the property, its general state of repair and advise on any serious apparent defects. However, he will not make detailed examinations such as checking the roof from above, lifting floor boards and so forth. One problem with this type of survey is that you may have no claim against the surveyor if he negligently fails to point out defects in the property.

R.I.C.S. House Buyer's Report

This is a more thorough examination of the property under a scheme promoted by the R.I.C.S. designed to give house buyers good value for money and some security when buying. The surveyor will spend more time at the property, inspecting the main structure, including the roof space if accessible, and the drainage. A reasonably thorough report will be presented in writing.

Full structural survey

Here the surveyor will examine the property fairly thoroughly and report on everything that is visible. He should examine the outside of the roof and take up sample floorboards where practicable. His survey should cover the structure of the building, outbuildings, nearby trees that may cause damage, services and drainage.

Obviously the more work the surveyor is asked to do, the greater the cost of the survey. A quotation should be obtained in advance.

It is fair to say that most people opt only for the first level of survey. If asked to advise, we would suggest that you should have at least the R.I.C.S. survey. If you are buying an old property a full structural survey is advisable. Everyone buying a house is spending what to them is a lot of money whether buying a mansion or a cottage.

Surveyors

Not all estate agents are surveyors and not all surveyors are building surveyors. It is important to choose your surveyor wisely. Please feel free to ask us for a recommendation as there are some very good firms we can suggest.

Saving costs

It is obviously a waste of money for your lender to have one surveyor and you to have another. Unfortunately, not all lenders will accept every surveyor and it is necessary to check whether a preferred surveyor is on the lender's panel. Otherwise, you can end up paying two people to do the same job. Before paying survey fees to a building society or an estate agent, we strongly advise you to check with us first. That way you can avoid unnecessary cost. This is one of the reasons why it is advisable to make an appointment to see us to discuss your general arrangements as early as possible.

The main organisations for surveyors are The Royal Institution of Chartered Surveyors and The Incorporated Society of Valuers and Auctioneers. Estate agents and surveyors are not the same thing. An estate agent does not have to be a surveyor but many surveyors also operate as estate agents.

N.H.B.C. Guarantee

New homes less than ten years old should be covered by a Guarantee issued by the N.H.B.C. This covers major defects only but the benefit of the guarantee can be transferred to subsequent owners of the property. Defects which are apparent before you buy cannot normally however be the subject of a claim under the guarantee.