Survey decisions

mrmrsa

My husband and I are in the process of buying our first place and I really can't make up my mind about whether we should get a survey done or not.

I've trawled through the board here but this just keeps making me change my mind even more! Some people say it's not worth it as the report just comes back saying 'may be signs of this' and 'may need to check this out' which means that there's nothing to fall back on if you find something wrong later on anyway and that's it's a waste of time and money. But some people say they'd never buy somewhere without getting a survey done first – I'm so confused! :undecided

We are purchasing a purpose-built 2 storey flat that is on the top (3rd and 4th) floors that was built in the early 1970s. The vendor did the whole place up when they moved in several years ago so it's all lovely and new and modern inside and we didn't spot anything that looked like it might need bringing up. It has a flat roof which we were told us was recently re-done.

What does anyone think about this? Should we get one done or not bother for our situation?

Thanks

evoke

Jeez.

Get a HomeBuyer's Report at the very least. You're dicing with financial calamity for the sake of a few hundred quid.

You being told things have been 'recently re-done' is neither here nor there. It could all be lies and may not comply with building regulations. And since you are not a qualified surveyor you may have no idea about problems that lurk underneath the pretty exterior.

stokesley

I find myself agreeing with evoke. This is quite worrying.

JQ.

The other reason to get one one is you then have somone to sue if it does go horribly wrong - to a degree it's a bit of an insurance policy.

GuidoT

As Evoke says get at least a homebuyers report. Even if it reveals nothing at the time, it could act effectively as an insurance policy in the future if something does.

It should be cheaper if you use the surveyor that does the valuation for the lender and they can do yours in parallel - unless of course you are a cash buyer.

alanmilstein

I'm a surveyor so, yes, I would always recommend getting a FULL a survey such as a Home Condition Survey (which tends to be more economical than a Building Survey, and is every bit as comprehensive in the investigation).
You can find a suitable surveyor through the RPSA (Residential Property Surveyors Association).

Don't bother with a Homebuyers report - why would you choose to have a survey that, by definition, is less thorough than a full survey?

Why should you have a survey?
1. As someone else rightly pointed out, how do you know what you're being told is the truth. It may surprise you to learn that some sellers lie!!!
2. A survey generates a very complete record of the property at the time you bought it. If there are issues in the future then you will have a full record to fall back on.
3. If the surveyor stuffs up then there is insurance for you to fall back on. More riskily, if your mate/brother/builder friend or some other person who claims to know all about buildings misses something vital then who are you going to sue?
4. Many of my clients end up saving 5-10 times the cost of the survey by renegotiating the price armed with the information contained in the survey.
5. The valuation that you have to pay for if having a mortgage is carried out by the lenders valuer who is only interested in whether the lender will get their money back. It's not intended to provide you with a report on the condition of the property, nor is the valuer working in your interests. In many cases the valuer will not even enter the property!
The facts are that for buyers who do not have a survey 1 in 4 will have to spend £2500 to correct defects that would have been highlighted in a survey, and 1 in 20 will have to spend in excess of £10,000.
It does therefore, make sense to spend a few £00's on a decent survey from an independent surveyor who is working in your best interests.

GuidoT

Of course a Homebuyers report is less detailed than a full survey (I presume you mean a Building Survey, formerly known as a Full Structural Survey). The main reason for choosing one over the other is usually the cost of such, the latter being more expensive.

If you want a surveyor, then my preference would be the RICS, the lender will use an RICS accredited firm and as I said I suggest you utilise that firm.

It is mandatory for RICS firms to carry professional indemnity insurance (that will effectively provide cover for you) and if they do not (for whatever reason) you have recourse to the RICS.

JQ.

alanmilstein wrote: »

...Marketing Stuff

Spam Reported.

I thought it was against MSE Policy to promote your own company? Residential Property Surveyors Association is a private company promoting Home Inspectors, NOT Chartered Surveyors.

alanmilstein

JQ. wrote: »

Spam Reported.

I thought it was against MSE Policy to promote your own company? Residential Property Surveyors Association is a private company promoting Home Inspectors, NOT Chartered Surveyors.

No, RPSA is a trade association for specialist residential surveyors. Much like RICS, but RPSA is a not for profit organisation.

JQ.

alanmilstein wrote: »

No, RPSA is a trade association for specialist residential surveyors. Much like RICS, but RPSA is a not for profit organisation.

But you are a Director of that trade association and it is directly promoting your services.

None of the people it promotes are actually Chartered Surveyors and the Home Condition Survey you have recommended to everyone is not produced by Chartered Surveyors.

This site is about independant advice, not self promotion.

sonastin

RICS being the Royal Institute of Chartered Surveyors would get my vote as the more senior association. But back to the original question...

The survey report, to the uninitiated, can look like its full of hedging-your-bets cagey non-commital rubbish. That's because the professional indemnity insurance backing the surveyor won't let him say anything definitive that he isn't sure of, e.g. if he isn't a qualified sparky he can't say "them electrics is shot". But, being on the whole a helpful bunch offering a service to their clients and generally having quite a lot of experience of good and bad housing, the language they use will actually tip you off to the things that they think you should be worried about.

"xxx not checked. Consider getting a specialist xxx survey" in all likelihood means "I'm not qualified to tell you about xxx but it looks fine to me. its appears as good as any I've seen and if I paid ££ to another professional body, I'd be insured to tell you that".

"xxx is very dated and appears to be in poor repair. You are strongly advised to seek more information from a qualified xxx surveyor" means "bl00dy hell - get me out of here before this house kills me. that's gonna cost ££££s to put right"!

If you talk to the surveyor about the property, he'll be able to point you in the direction of the things he thinks are troublesome without having to commit himself in black-and-white in a way that you can sue him. In that way, if you're not experienced enough in building work to judge for yourself what might be wrong, the surveyor will do what he can to educate you without risking his own livelihood to help you.