which survey is best for 40 year old property

home2013

I'm a FTB, liked a house, it's built in early 70s. To me it looked all good. Can someone tell me which survey is proper one to do on this kind of property.

What is the approximate fee for that?

Mortgage vendor says 355 for valuation fee, can I request them to do a HomeBuyers report, will that be sufficient? Thanks.

Building_Surveyor

It is entirely up to you. Without seeing the property I couldn't possibly comment. But when your committing 100s of thousands of your money would you want to get it wrong over saving a couple of hundred quid? I wouldn't. Homebuyers report is the one in the middle. A step up from basic but a step down from full building survey.

The cost of a home buyer report can depend on the property value and the lender. You need to ask the lender.

amnblog

Definately get a Homebuyers report. Ask the lender for this. Cost will be around £675 total.

You cannot spend tens of thousands on an asset that has not been inspected property.

WellKnownSid

We have just been looking at three properties around 40 years old. Broadly similar prices, similar locations, and all look OK to us.

Property #1 - ex-military, vendor's home buyers report shows all '1's.

Property #2 - privately built, the one we're going for, vendor's report shows mostly 1's and a couple of 2's (guttering, exterior woodwork).

Property #3 - developer built. Report shows serious damp, decay, woodworm and infestations. Requires additional specialist survey work to confirm construction methods. Electrics questionable. 100% mortgage retention until all remedial works carried out and construction confirmed as appropriate for a mortgage.

A lot can happen in 40 years!

amnblog

If you were buying a Rembrandt you wouldn't say 'it looks like a Rembrandt to me' and hand the cash over.

You would have it properly inspected - mad not to.

home2013

Sorry If I didn't put my question properly..

I'm definitely going to get a survey done, but which is the only question... Definitely lender is going to do valuation survey, and when posting the question I'm confused between HomeBuyers/full structural survey or something else..

Probably I'll go with the full structural survey now..

amnblog

home2013 wrote: »

Sorry If I didn't put my question properly..

I'm definitely going to get a survey done, but which is the only question... Definitely lender is going to do valuation survey, and when posting the question I'm confused between HomeBuyers/full structural survey or something else..

Probably I'll go with the full structural survey now..

Plenty of websites explaining the difference between the two.

SpottyWellies

amnblog wrote: »

Definately get a Homebuyers report. Ask the lender for this. Cost will be around £675 total.

How do you know this? How can you say such an exact amount without knowing all the details? :think:

When we got quotes for surveys the prices varied wildly!