Buying a house is possibly the single largest transaction that you are likely to undertake in your lifetime. A building is a major asset, so how can you be sure it’s worth the investment? Houses in this country can be of different ages and forms of construction; they may have defects or design faults or show signs of poor workmanship. The problems can be numerous and serious and prove expensive to remedy.
This is why it is important for you to arrange for a Chartered Surveyor to carry out a property survey prior to commitment to purchase. Commissioning your own home survey is the simple, economical way to avoid unpleasant and perhaps costly surprises after moving in.
Hammond & Shaw offer three types of home survey, depending on the type, style and location of the property.
HomeBuyer Survey, with or without valuation
- Mid-range property survey that will flag up any issues that need attention
- Suitable for properties that appear to be in a reasonable state of repair
- Suitable for conventional homes built in the last 100 years, buildings that have not been significantly altered and where there are no plans to make any major refurbishments
- Full structural survey recommended for older and historic buildings
- Recommended for buildings that are of non-standard construction
- Appropriate for properties that have been substantially altered or extended, or where there are plans for major refurbishments
Which key questions should you ask your surveyor?
You can minimise the risks of purchasing a property by asking a Chartered Surveyor to answer these questions: Is the agreed price reasonable? Are there any drawbacks I don’t know about? Are there any significant defects or urgent repairs? If so, what do I do about them?
At Hammond & Shaw, we offer friendly and professional advice to help you make the right property decision, with a full survey and valuation service for all types of residential property. Get in touch today to discuss your specific requirements and get a free, no obligation quotation.
Is a mortgage valuation the same as a property survey?
Many people wrongly believe a mortgage valuation is a property survey. However, a mortgage valuation is purely for the use of mortgage lender and cannot be relied upon by you to protect your interests. Increasingly, mortgage lenders are willing to accept a mortgage application without a surveyor having physically inspected the property.
Although the cost of a survey may seem an unnecessary extravagance when making a decision to buy it could highlight costly repairs, help to re-negotiate the purchase price and potentially save thousands.
The following advice is given by both the consumer association Which? Magazine and the Council of Mortgage Lenders (CML):
Even if you are seeking a mortgage and may be paying for a Mortgage Valuation report, it is advisable and prudent to arrange a property survey by your own Chartered Surveyors. The best way to reach an informed decision on such an important investment is to have a professional property survey before you decide to go ahead and commit yourself legally.