limited condition survey or homebuyer survey

dianah

We found a house we really like and we're going to see it for the second time this afternoon. If we still like it, we'll put an offer in.

It is a little terraced cottage - wooden beams and a cast iron fireplace - very pretty but also quite old. It looks very well kept inside but we're a bit concerned about the roof - mainly because we can't really tell whether there's anything wrong with it.

So we definitely need to have a survey done if we decide to go ahead with the purchase. And here's the dilemma:

I called three different survey companies today for quotes etc. I think these are the only three RICS surveyors here that do this type of work (we live on a small island). I explained about the age of the property and our concerns.

Two of them said they'd recommend a Limited Condition Survey which basically looks for what's wrong with the property rather than a Buyers report which lists everything. It's also over £200 cheaper. Both of these companies also do the Homebuyer Surveys.
And then one firm - which doesn't actually offer the limited condition survey - advised that we should get the Homebuyer Survey done.

So I'm confused. I talked to the actual surveyors rather than secretaries and they both made sense. One of the surveyors who recommended the Limited Condition Survey said that if they find something wrong, I'll need to get a specialist survey done (i.e. roof, damp) but that I'd need to do this with the Homebuyers survey anyway. Also, if they find there's something really wrong, we'd probably pull out.

Has anyone got any experience with this?

Thanks so much!
d

bryanb

I'd start by looking carefully myself, binoculars from outside, a good torch inside the loft. You could save a survey fee if you can spot a problem yourself.

dianah

see, my husband is a glazier and he's pretty good at spotting subsidence and things like that... with the roof.. we're not sure... there seems to be a slight dip in the middle but then again, the cottage is probably 150 years old.

we are definitely going to do the bright torch loft inspection today - if we do find something serious, we just won't go for it. but as i said, we're not experts so if we don't, i'd rather pay £300 and know the roof is sound than spend £190k on the house and then have the roof collapse two years later.

kmmr

seems to me you know the answer to your own question. if 300 saves you the cost of a new roof, or gives you peace of mind that its not needed. then it is worth it

dianah

kmmr - thanks, i know i definitely WILL have a survey done with the property this old, i'm just a little confused which one to choose after being given two different pieces of advice.

the main question really is - Is the Limited Condition Survey sufficient?

daveyjp

I've never heard of a limited condition survey. If it is limited they must be missing some items.

That said having recently seen a modern Homebuyers Survey it was only fit for starting a fire. The RICS does a disservice to the house buying public with the Homebuyer survey system as it is a one size fits all approach.

If you have particular concerns about the roof a structural surveyor will provide a better report. Chances are a Homebuyers Survey would advise you to go for a structural survey anyway!

dianah

That said having recently seen a modern Homebuyers Survey it was only fit for starting a fire.

:rotfl::rotfl::rotfl::rotfl: there is a very nice open grate cast iron fireplace in the cottage!

thanks for that davey!

well... 45 minutes to go til the viewing. i so hope that everything with the house will be ok!

kmmr

I agree on Homebuyers surveys. All they say is 'this may be an issue, but we didn't check' against a whole series of risks! It's like a paid for marketing tool for surveyers. It just makes you nervous, then you pay out twice. Once for homebuyers, and once then for the structural one!

dianah

right. we had the offer accepted. i got in touch with one of the surveyors again. for some reason, he thought i wasn't getting a mortgage - which i am and the valuation survey is included with the mortgage.

he said that the condition report won't really give me much more than the report for the bank so he'd recommend doing the homebuyer survey instead but that they usually do the homebuyer and valuation surveys together and it reduces the cost. but obviously, with the valuation survey included with the mortgage, i wouldn't be paying for that.

my head hurts now.