We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Should I get a survey done?

Here’s the facts:
It’s an eighth floor one bedroom flat, in a recently converted (2014) large (9 storey) older building (42 units or thereabouts).  We viewed it with no tenant in situ, and it superficially looks fine internally, just needs a bit of a freshen up.  Only issue was a slow new leak which seemed to be coming from a ceiling sprinkler, but this has been already brought up with the vendor.
We’re cash buyers.
It’s reasonably priced in line with recent sales of other units in the block.
What’s a survey likely to tell us?  Being newly converted, I assume the electricity is all up to date and compliant.  There’s no gas, so no potential gassy issues.
Should we get one anyway, just to be on the safe side, if so which kind?  Your shared wisdom would be greatly appreciated...


Comments

  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    A survey will tell you a cold-hearted assessment of the market value. It will also point out that multi-storey blocks are avoided by many lenders (particularly in the current climate), and if there is any sign of cladding then there will be additional hurdles - I don't know whether you're already aware of all this. Surveyors don't go into any detail on electrics anyway, just tell you to get an electrician in if you want them tested.
    Your main liabilities are going to be for the common parts, and I doubt it will give you more than a fairly superficial report on the state of the building (and I doubt they'll have access to e.g. the roof).
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    A survey won't tell you about the electricity anyway - just suggest you get an EICR. If you're planning on letting it, you'll need to get one anyway.

    It's entirely up to you as to what level of survey - what would make you feel comfortable?

    The sprinkler fault will be the freeholder's responsibility - and that's coming back to all leaseholders via the service charge, along with anything else about the fabric of the building. So it really is just the stuff that's demised to the leaseholder... And anybody reasonably clued-up can pick that up in reasonable depth easily enough.
  • Robin9
    Robin9 Posts: 13,076 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    What has caused an issue for some flat buyers is the location of the electricity meter.  Is in in an outdoor meter box by the front door or in a communal cupboard. If the later you must have access to read your meter - never rely on caretakers, agents to do this.

    On a similar meter theme meter records for flats getting mixed up is not uncommon .
    Never pay on an estimated bill. Always read and understand your bill
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.3K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.2K Work, Benefits & Business
  • 603.9K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.