Which survey?

bel2310

Hi,
Could do with some advice from all you experts! Am in the process of buying a property as a buy to let, paying cash. It is approx. 8 years old, mid-terrace. It seems to be in good sound condition. From reading other posts on here it seems a home buyers report would not tell me any more than I can already see, and a full building survey would be overkill.
Does anyone have any thoughts on this?
Thanks
Bel

cattie

Personally on a property this age I'd just go with the valuation survey that a lender would require. As a cash buyer I don't suppose there is this requirement even?

A homebuyer's survey is full of generalisations & doesn't really tell you anything & a structural survey is to be advised for very old properties or those that seem to have obvious problems with the fabric of the building.

Congratulations for being in the position of being to buy you BLT for cash, must be a nice feeling.:beer:

Astaroth

Generally speaking less than 100 years old it is a homebuyers survey and over 100 years it is a full structural survey. If you think there are problems then either "upgrading" to the higher level or getting a specialist survey (say damp) as well can be an idea.

Personally on such a new property it is hard to think that there would significant problems but you can never tell and my gut would say that if there were they wouldnt show on a home buyers which does tend to be more "wear and tear" or blindingly obvious.

If you have no issues with the price then I would almost be tempted at saving on the survey.

silvercar

*whispers in embarrassment*

In the process of buying a mid-terrace as BTL and only went for the valuation.

Never risked it before but it looks in good nick. Houses in the road have gone for 10k more according to nethouseprices, so reckon the road won't be subsiding!

clutton_2

bel2310 - if i had the cash, i would use some of it for the deposit, get a BTL mortgage and use more of the cash for a deposit for another property

Debt_Free_Chick

Does it have NHBC? If so, I think that lasts for 10 years ... so I would definitely only have a basic valuation

bel2310

Thanks for the tips, I thought you could only get a valuation suvery with a mortgage - my solicitors have recommended Countywide surveyors , would they do valuation only. Re the cash purchase, its a bit more complicated actualy. I am acting as attorney for my Mother who has had to go into a residential home, her old cottage was not rentable, so have sold it and are investing in a new property to provide income towards her care , alogn with her savings. Don't get me started on my opinion of this situation.!

nickinoo

We are in the process of buying a new build & have only paid the basic mortgage valuation fee (we decided against an actual survey as such as our house is still being built). Our buyers haven't bothered with a survey on this house & it is approx 130 years old.