Building Survey Ownership

Smodlet

AdrianC wrote: »

There always has to be an end to the ability to walk away - a point at which you are contractually obliged to buy.


Who wants that to be the offer point? Not me, because it means that you need to do all your due diligence before finding out that the vendor's in cloud-cuckoo land when it comes to offers.



Who wants to accept the vendor's information at face value, without any opportunity to check it out for yourself? Not me, because we're always saying to new-build buyers "Don't take the vendor's recommended solicitor - they're the only person fighting your side.".

No-one wants the scenario you suggest, AdrianC, certainly not me. I just feel there has to be a better way and think I am not alone in this.

The Scottish way is different from ours though hardly without its problems either, such as vendors forking out for a Home Report when they might not achieve a sale, I guess (how long are those valid for?) Still seems better for everyone except the surveyor(s) than getting the same survey done on the same property over and over within a few months.

Perhaps forcing solicitors to do their jobs properly within a reasonable time and EAs to adhere to the truth would be a start! Yeah, yeah, cue Disney logo.

AdrianC

Smodlet wrote: »

The Scottish way is different from ours though hardly without its problems either, such as vendors forking out for a Home Report when they might not achieve a sale, I guess (how long are those valid for?)

And the buyer is in that second position I described, where they're relying on vendor-provided information...

Still seems better for everyone except the surveyor(s) than getting the same survey done on the same property over and over within a few months.

How often does that actually happen?

Perhaps forcing solicitors to do their jobs properly within a reasonable time and EAs to adhere to the truth would be a start! Yeah, yeah, cue Disney logo.

There are incompetents, sure. But much of the legals delay is usually waiting for searches etc to come back, and EAs can only pass on what they're told by the vendor.

Smodlet

Please don't defend EA's... Can't you see the horns and the tails? :eek: :rotfl:

AdrianC

Smodlet wrote: »

Please don't defend EA's...

EAs are people, too...

(mostly)

Can't you see the horns and the tails? :eek: :rotfl:

<chuckle>

Finchy2018

I worked for a surveyors for 5 years. You can sell the survey. However the surveyor would not be liable for anything missed - for all We know the owner could have knocked down a wall since the survey took place.

ukdw

Unless surveyors are making excessive profits due to many of their good surveys having to be repeated due to chain problems then I suspect that even an improved house buying process wouldnt reduce the overall cost of surveys.
i.e. Are lucky buyers who get though the process in a smooth way with only one survey in effect being subsidised by the unlucky buyers who end up having to pay for multiple surveys with only the last one actually having any liability for the surveyor attached to it.

I suppose the survey costs would be fairer if surveyors offered an option to split the payment for the survey into two - the first payment for the actual survey and a second payment for the surveyors liability/buyers protection that only gets charged if the house move goes ahead.

The advantages of taking this business model would be that in theory it should work out cheaper overall for the unlucky people who end up having to get multiple surveys done. The disadvantage would be that the overall cost for buyers requiring only one survey would be greater.

ReadingTim

Aerofox176 wrote: »

Thanks, but unlikely. The vendor has kindly given us 10 days grace before she goes back to market, but we're unlikely to get another offer so soon. Best laid plans and all that stuff.

You don't know you won't get another offer if you don't remarket. Similarly, your vendor might not get another offer as quickly as she hopes - a point which you might like to make to her (or her agents).

If this is the "dream cottage" you say it is, I'd be pulling out all the stops to get it - you seem to have thrown the towel in at the first setback....