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Should I pay for a survey on a 14 year old property?
flyinglion
Posts: 5 Forumite
Hi
I'm in the process of buying a purpose built flat that was built c2003. Should I bother with a Home buyers report or just go with the valuation done by the bank.
The property is maintained by a management company and I'm told there is a large sinking fund. When I went to two viewings, the property and communal areas looked in good condition. A few friends who bought older properties said not to bother with a survey.
Thanks
I'm in the process of buying a purpose built flat that was built c2003. Should I bother with a Home buyers report or just go with the valuation done by the bank.
The property is maintained by a management company and I'm told there is a large sinking fund. When I went to two viewings, the property and communal areas looked in good condition. A few friends who bought older properties said not to bother with a survey.
Thanks
0
Comments
-
The valuation carried out by the bank is just that, a valuation, and therefore highly unlikely to tell you anything substantive about the condition of the property.
What's your attitude to risk, and how much do you know about building/property construction?
The answers to those questions will determine whether it is wise for you to get a survey.0
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