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When should I book survey?

lilsweetie
lilsweetie Posts: 100 Forumite
Part of the Furniture 10 Posts Combo Breaker
in House buying, renting & selling
Hi

Currently in process of buying our first house, mortgage offer underway, solicitors appointed. We are having a survey done separately from the lender as this is what I was advised to do. At what point should I get a survey done? It’s unlikely to fall through as we are buying a part exchange home from persimmon and the vendors new build is ready, they are moving first week of January.

Thanks

Comments

  • princeofpounds
    princeofpounds Posts: 10,396 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    As soon as you like, given your offer has been accepted and you presumably have a mortgage AIP already. Good luck!
  • lilsweetie
    lilsweetie Posts: 100 Forumite
    Part of the Furniture 10 Posts Combo Breaker
    Yes we do have an AIP, thank you!! Will get on the case tomorrow.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Cheaper to combine your survey with the banks valuation.
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Thrugelmir wrote: »
    Cheaper to combine your survey with the banks valuation.
    Sometimes true, sometimes not. Aways compare.

    Plus there is a (small) risk that where the lender's Valuation may approve the loan requested, if combined with a more detailed survey it might uncover an issue that results in a down-valuation.
  • Mutton_Geoff
    Mutton_Geoff Posts: 4,072 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    In the "old days" offers were always made "subject to survey" as well as "subject to contract". I would have a full survey done before you formalise your offer.
    Signature on holiday for two weeks
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    Mutton_Geoff wrote: »
    In the "old days" offers were always made "subject to survey" as well as "subject to contract". I would have a full survey done before you formalise your offer.
    It's just words.
    The sale is subject to anything and everything right up until exchange of contracts. The survey is as much part of that as anything else.

    OP - do it in whatever order you think reflects your priorities.
  • Mutton_Geoff
    Mutton_Geoff Posts: 4,072 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    AdrianC wrote: »
    It's just words.
    The sale is subject to anything and everything right up until exchange of contracts. The survey is as much part of that as anything else.

    OP - do it in whatever order you think reflects your priorities.

    Quite. This forum is full of posts from people who make a spur of the moment offer for their “forever home” then start to work out how to raise more money when their surveyor or lender “undervalues” the property and they seem unable to revise their offer downwards.
    Signature on holiday for two weeks
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