Is it common to buy an old semi without bothering with any surveys at all?

HollySocks_2

Hi

I put an offer in on a slightly tired looking semi detached. I didn't hassle over the price and offered the asking price.

I did this as i could see the sellers only bought the property 8 months ago for £136K. They had put in a new kitchen, and so i agreed £137K.

I obviously had concerns over the fact that they put in a new kitchen, and were now selling some 8 months after buying it. They advised they needed to move for family reasons, which is fine.

I thought as i was trying to act in good faith and offered what they were asking, they would be ok letting me have a copy of their survey they did when buying it 8 months back. I would still do my own survey, but seeing a recent one first, would help alleviate any fears before paying for my own survey. I'm a cash buyer, so need to pay for my own survey.

The estate agent has come back to me to say the sellers never bothered with a survey when they bought it in May last year. I said that seems unusual, as all mortgage providers would insist on one. The estate agent said she thinks they paid cash.

My question is, if you're paying cash - £136K for a old semi detached, how common is it not to bother doing any surveys of any sort? I would have thought for the little cost - £250-£450 depending on the type of survey, its money well spent.

Obviously if i did my own survey anyway, it should show any problems, but by that point i will have paid for this and also started all the land searches.

Its just un-nerving me a little, maybe they did have a report but it says something that might put me off? Are they then really moving so soon after buying for 'family reasons'. I cant imagine anyone buying somewhere for that price in cash, without doing a little survey?

Am i just being daft and overly paranoid?

m0bov

Always get a survey before you engage your sol, I'd be concerned if a buyer did'nt have a survey.

Also, your confusing a survey with a valuation.

HollySocks_2

Sorry, i get my terminology wrong, its the thing where you send someone round to look at the property and assess what , if any problems there are.Its 20 years since i bought a place so i forget what the things are called.


I've looked on other threads and they all seem to call them surveys, structural surveys etc. I;m not using a mortgage, but its the thing that tells you the condition of the property that i'm asking about.


I would do my own survey. I'm just asking if its common for someone to not do one, as the person i'm buying from didn't bother apparently and they're selling it 8 months after buying it.

davidmcn

If they did have a survey, they might be concerned that you'll change your mind after seeing any negative comments, rather than ones which are objectively of concern. You only have to look at posts here to see how worried buyers get by the doom and gloom peddled by surveyors.

Or look at it this way - even if they did get a survey, they still decided to go ahead and buy the thing.

caprikid1

If I was paying cash and was looking for a property that had not be touched in many years I would be tempted to not get a survey. Normally the faults are obvious to even the most casual observer.

Often shiny is more of a concern than a house needing work. If the place needs a lot of work then it can be another unnecessary expense.

When I bought my Ex wife a house we had a friend look at it for us who was a surveyor, nothing formal.

The other thing to note is that with our litigation culture there is an increasing reluctance to be specific to the point of exposing themselves so surveys are becoming less and less common and less value in terms of recompense. My mortgage company only wanted a Val on an expensive 200 year old property and gave no option for a survey.

HollySocks_2

That's a good point DavidMcn, if they did get a survey and it showed something bad that they don't want to release to me, well as you say, they DID still go ahead and buy it..That does re-assure me a little ha, thanks

pinkteapot

HollySocks wrote: »

Sorry, i get my terminology wrong, its the thing where you send someone round to look at the property and assess what , if any problems there are.Its 20 years since i bought a place so i forget what the things are called.

There are different levels of survey. If they got a mortgage, their mortgage company will have required a Valuation but that wouldn't have given them a report on the condition of the house. They might have chosen to upgrade or separately do a more detailed survey, but that would have been their choice and not everyone does it.

Asking for their survey is unusual. I wouldn't give an old survey to a prospective buyer - I could have fixed anything it flagged in the meantime, and new problems could have arisen since which wouldn't be on the survey, so what's the point?

The reality of home buying is you should fork out for a survey if you don't know what to look for yourself. If it shows up problems you might decide not to buy the house, but then you should look on that money as having saved you from making an expensive mistake!

Offering full price thinking they'd give you their survey in return probably wasn't the way to go - and if it was what you had in mind you could have made it a condition of the offer (I'm offering £xxxx but I want to see the survey they had done before going any further).

Wobblydeb

Neither of those facts (selling after 8 months, and not getting a survey) would stop me from buying a place. They may be splitting up - they may just have had a valuation (which I believe should pick up anything major).

I've seen good, bad and indifferent surveys. At least when it's one you have instructed yourself the surveyor owes you a duty of care.

hazyjo

There should be something in it effectively saying it's for their eyes only and not to give to a third party... Not sure if that's just if you sell it, or if it's for passing on too...


(Edited as misread/forgot the question!)

AdrianC

HollySocks wrote: »

My question is, if you're paying cash - £136K for a old semi detached, how common is it not to bother doing any surveys of any sort? I would have thought for the little cost - £250-£450 depending on the type of survey, its money well spent.

Well, you're considering doing exactly that, so...

I've bought, and assisted family members in buying, several places without a formal survey. But I know my way around houses well enough that I can look at pretty much the same things as a surveyor, with the added incentive that it's my money and sweat that's going to be fixing it... And I'm cynical...

HollySocks_2

Thanks for all your help


I would get my own survey done anyway, i'm not trying to avoid paying for one. I'm just a bit nervous and knowing they only recently bought it, i just thought it odd that didn't do their own survey , so it started ringing more alarm bells, that's all.


I know they don't have to release their own survey. I'll prob still go ahead with it, its just to me, i couldn't understand anyone buying a place without doing a survey, but people here have pointed out there are various reasons why someone might not do one. Maybe they are in the building trade and could see any defects themselves? They did put in a new kitchen themselves, so they must know a little about houses - i cant put a shelf up without it falling down.



Thanks for all your help. Much appreciated.