To Survey or not to Survey?

Vincenzo

Hi All,

I am in the process of buying a 3 bed terraced (c.1928). I have received my mortgage offer and obtained a copy of the mortgage valuation from Bristol & West.

The report states that '...no essential repairs are required...' and that the property '...has been adequately maintained and in a condition consistent with its age and type'.

I was planning on having a building survey done but am pretty certain it will be a waste of money. The only thing I am not clear on is if this will affect my buildings insurance. If the house developed subsidence for example and the insurers said it was a pre-existing condition, would they still payout?

Any ideas?

Thanks.

silvercar

The correct reply would be that this is one of the biggest purchases of your life so of course you should survey.

In answer to your specific question I would take photo's of the outside walls with a copy of the day's newspapers in the photo. If cracks did develop you would have some evidence, along with the valuation, that they are new.

Only you can decide if something built that long ago is likely to develop faults now.

shockingmoment

I wouldn't bother. If you are, or know someone who is reasonably competent, look over the property yourself. The exception would be electrical / gas. House shld be sold with a valid test cert. If not - ask for one!

Surveys are full of Weasel words, clauses, suggestions you get an expert in, couldn't lift a carpet, couldn't access loft etc etc. If something is discovered after purchase - you'd be very lucky to get the Surveyor to admit to anything

lynzpower

Id pay it. 500 quid for peace of mind isnt a great deal to me.

I dont think they are a waste, my parents had a few in for houses they were buying and they were uncovering subsidence etc. Some they bought with the risk, some they didnt. but at least they could make the choices with thier eyes open.

lilyann1

We have just had our homebuyers survey done on the house we are buying.It was built 1950's and all looks in good order but felt the extra £500 was worth paying to get peace of mind that the house isn't falling down or the roof isn't in need of repair(major expense).
Of course the survey has come back with all little bits that need maintenace and when you see it ,you think oh no a lot of work needs doing,but they are just general bitty things. It has come back saying need electrical survey done,gas survey done and drainage survey and cannot see into loft as no light and too much storage and cannot see into this and that as not accessible,so you cannot see everything,but I think it is worth doing to know exactly which jobs you may have to look at in the future.
We were basically told by the surveyor though that they suggest all these extra surveys, so they are covered, as they are not experts in everything.So it is purely down to you whether you want peace of mind or not.
Our buyers had their simple mortgage valuation/survey done of this property and I was present when the surveyor was here and to be honest he went from room to room and that was it ,he didn't really look into anything.
Hope this helps?

vansboy

You'll find it helpful to renegotiate the price down, if things were apparent & if the house hasn't been sold for a long time, there's a good chance that things that need attention, will be noted.

If it's been sold more recently, then things that were drastic SHOULD have been sorted, as a condition of the mortgage, for the current owners.

They might even have a copy, still, from when they bought, to show you.

But obvious Q's like when was the gas checked/rewired/plumbing done are all worth asking - cos the lower priced surveys won't investigate these too far, as already mentioned.

& most damp companies will check stuff for free quotes & building maintainence firms would charge inspection fees, which MIGHT be reduced from their bill, if you got them to do whatever needed doing.

VB