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Another survey question...
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highguyuk
Posts: 2,763 Forumite
After some opinions, wondering if I'm not considering something.
Looking at a distant family member potentially undertaking survey, they are a chartered surveyor. We haven't yet established if this will be done formally or informally, ie a written report or a casual chat.
Do I need a formal report, is it something I'll need at any point? Anything I'm missing from this potential arrangement?
Looking at a distant family member potentially undertaking survey, they are a chartered surveyor. We haven't yet established if this will be done formally or informally, ie a written report or a casual chat.
Do I need a formal report, is it something I'll need at any point? Anything I'm missing from this potential arrangement?
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Comments
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Regardless of whether he is a family member or not, do it properly. Treat it as an arms length contract. Pay the going rate and get a full report. Being a Chartered Surveyor he will also most likely want it done correctly as it is his reputation at stake.Eat vegetables and fear no creditors, rather than eat duck and hide.0
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Rubbish! It is an individual choice!
Some people choose not to have a survey at all.
Some simply take round a friend who knows about houses ( maybe a builder), and some are lucky enought to have a surveyor relative!
If you do it formally, you'll have the advantage of
a) a written report and
b) professional insurance
If you do it informally, you'll get a good idea of what problems the property has if any, and save yourself a pretty penny!0 -
Professional insurance, that's a good point...0
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If you're getting a mortgage your lender will still want a valuation done by someone they trust. My surveyor had to declare to the lender that there was no conflict of interest.0
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I guess another point might be that, if you were to try and negotiate on price based on the survey results, your vendor (if they know the surveyor is a relative) might claim the surveyor wasn't giving a truly independent assessment. No reason why they have to know though, I guess.0
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My preferred mortgage supplier offers a free valuation. If I don't go with the family option, I'll likely upgrade their survey to HB report.0
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[Deleted User] wrote:I guess another point might be that, if you were to try and negotiate on price based on the survey results, your vendor (if they know the surveyor is a relative) might claim the surveyor wasn't giving a truly independent assessment. No reason why they have to know though, I guess.
Another excellent point. We do share surname...0 -
That's a good point.[Deleted User] wrote:I guess another point might be that, if you were to try and negotiate on price based on the survey results, your vendor (if they know the surveyor is a relative) might claim the surveyor wasn't giving a truly independent assessment. No reason why they have to know though, I guess.
Perhaps a way round would be for the relative to give a (free) informal view, and if he spots a problem you can then decide to
* walk away (if it is serious), having saved some £ or
* pay for an independant survey at that point to show the vendor
And if the rleative gives the property a clean bill of health, then no negotiation on price is needed.0
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