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Builders Warranty- To survey or not to survey?
Hello_World_4
Posts: 2 Newbie
Hello!
I'm buying my second property at the moment, and am a cash buyer. The property is about 5 years old. I asked the Estate Agent whether he could recommend a local surveyor and he said that he would be happy to, but that the building is under Builders Warranty so I might prefer to save my money and not bother.
I know it's always sensible to get a survey done, but the lure of extra cash is tempting.
Does anyone know anything about Builders Warranty?
Gemma
I'm buying my second property at the moment, and am a cash buyer. The property is about 5 years old. I asked the Estate Agent whether he could recommend a local surveyor and he said that he would be happy to, but that the building is under Builders Warranty so I might prefer to save my money and not bother.
I know it's always sensible to get a survey done, but the lure of extra cash is tempting.
Does anyone know anything about Builders Warranty?
Gemma
0
Comments
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The builders warranty will probably be a waste of paper. If you have concerns over the condition have a survey done independently. There are online searches where you can get quotes from local surveyors and then choose whichever you prefer. Or the estate agent can probably recommend someone but they will charge the earth.0
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In the grand scheme of a purchase that's going to be £50k plus, I'd always pay £500 for peace of mind if nothing else.
A warranty won't tell you about hidden problems, a survey might.0 -
Of course the Estate Agent advised you not to bother. He works for the bendor, not you, the buyer.Eat vegetables and fear no creditors, rather than eat duck and hide.0
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Who is providing the builders warranty? Is it a private warranty offered by an individual builder who might go out of business at any time?
Is it insurance backed (in case of the above)?
Is it a national scheme (like NHBC)?0 -
Who is providing the builders warranty? Is it a private warranty offered by an individual builder who might go out of business at any time?
Yep, that's the one I've seen somebody caught out by ... Most of the flats in the block didn't even have time to get their snagging lists completed before they folded the company (as it appears from Companies House they do as a matter of course following each build!)0 -
Thanks everyone, I suspected this would be the response.
G_M I'll definitely find out more specifics regarding the Builders Warranty!0
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