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Providing Buyer with Structural Survey

mrowebot
Posts: 1 Newbie
Hello Everyone
Long time reader, first time poster here. Couldn't find a thread related to this topic after searching so thought it best to create a new one...
I am selling my house to fund the purchase of another property (upsizing). The buyer of my property is a cash buyer and stated that he would not be having a survey done on the property. His solicitors have performed all the searches and I have provided all the documentation that they requested (building regs approval for an extension, corgi certs, etc.), however now the buyer's solicitors are informing me that they want a copy of the structural survey that I had done when I bought the property in 2007.
Therefore I am in a predicament: do I refuse and inform the buyer that he needs to have a structural survey done himself, or should I bow to the pressure and send over the survey?
My partner and I are in rented accommodation at present and our tenancy runs out at the end of July so I am keen to have the purchase finalised well before then so that we can complete on the property that we wish to buy (we have had the offer accepted on this and searches/survey done so ready to proceed).
Thanks in advance!
Long time reader, first time poster here. Couldn't find a thread related to this topic after searching so thought it best to create a new one...
I am selling my house to fund the purchase of another property (upsizing). The buyer of my property is a cash buyer and stated that he would not be having a survey done on the property. His solicitors have performed all the searches and I have provided all the documentation that they requested (building regs approval for an extension, corgi certs, etc.), however now the buyer's solicitors are informing me that they want a copy of the structural survey that I had done when I bought the property in 2007.
Therefore I am in a predicament: do I refuse and inform the buyer that he needs to have a structural survey done himself, or should I bow to the pressure and send over the survey?
My partner and I are in rented accommodation at present and our tenancy runs out at the end of July so I am keen to have the purchase finalised well before then so that we can complete on the property that we wish to buy (we have had the offer accepted on this and searches/survey done so ready to proceed).
Thanks in advance!
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Comments
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Can you remember the terms from your surveyor when you had it done as legally you might not be allowed to. I've recently had a structural survey done on a place I'm purchasing and it had the following condition:
"Our report is considered confidential to the party to whom it is addressed and it is not to be passed to or used for the benefit of any other parties without our prior written consent. This is because we need to know who will be relying on our report."
Personally I wouldn't send it to them as they should get their own survey done and besides it's 6 years out of date so not really sure what use it would be to them.Starting Mortgage Balance: £264,800 (8th Aug 2014)
Current Mortgage Balance: £269,750 (18th April 2016)0 -
Did the survey reveal any issues, and if so, is there evidence these issues have been addressed?
Has anything changed since?
My guess is if the survey picked up very little you have nothing to loose by handing over a copy. Ideally, I would show them a copy.
Keep the original because this is copyright and issued to you. Your purchaser would not be able to challenge the survey because the survey was written for you.
To protect their interests your purchaser should have their own survey done, and not be relying on yours. But this is for them to decide on.0 -
The survey is the intellectual property of the surveyor. You commissioned the survey so have the right to use that information.
Your purchaser had no right to the survey and the surveyor is highly unlikely to allow the survey to be assigned to a third party that he has no contract with.
The purchasers solicitors know the implications and are just trying it on and I am surprised that your own solicitor hasn't nipped this in the bud immediately.
Remember, the IP in the survey is not yours to give to any one, so tell the solicitor a definite no.Eat vegetables and fear no creditors, rather than eat duck and hide.0 -
Hello Everyone
Long time reader, first time poster here. Couldn't find a thread related to this topic after searching so thought it best to create a new one...
I am selling my house to fund the purchase of another property (upsizing). The buyer of my property is a cash buyer and stated that he would not be having a survey done on the property. His solicitors have performed all the searches and I have provided all the documentation that they requested (building regs approval for an extension, corgi certs, etc.), however now the buyer's solicitors are informing me that they want a copy of the structural survey that I had done when I bought the property in 2007.
Therefore I am in a predicament: do I refuse and inform the buyer that he needs to have a structural survey done himself, or should I bow to the pressure and send over the survey?
My partner and I are in rented accommodation at present and our tenancy runs out at the end of July so I am keen to have the purchase finalised well before then so that we can complete on the property that we wish to buy (we have had the offer accepted on this and searches/survey done so ready to proceed).
Thanks in advance!
Why would you not want to send your survey over? If you refuse this would suggest that you have something to hide.0 -
As advised. It's not yours to send.I'm a qualified accountant but please make sure you get expert advice as any opinion is made in a private capacity.
"A goal without a plan is just a wish" Antoine de Saint-Exupery
Mortgage overpay 2012: £10,815; 2013: £27,562
Mortgage start £264k, now £232k0 -
How do they know you even had a survey in 2007?0
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Just say you've looked, but can't find it. Case closed. Say you remember binning a load of stuff which you'd hung onto for X number of years and it must have been in with that.
No getting backs up, causing suspicion, falling out...
Jx2024 wins: *must start comping again!*0 -
As others have said, it's likely that the terms the survey was carried out under don't allow you to give it to other parties. Aside from that, a 6 year old survey is pretty meaningless. I would just tell them that you are not allowed to pass it on.0
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Mmm sounds like they are trying to get something for free. I personally would refuse even if I didn't have anything to hide. and as the others have said you might not be able to pass this on legally, in fact I would just say that to the buyers solicitors0
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Cash buyer who is trying to cut corners. I wouldn't supply it for the reasons already stated relating to age of the survey and the contract you will have signed with the surveyor.0
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