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Should I get a survey done?
Chargull
Posts: 1 Newbie
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...
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...
0
Comments
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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).1 -
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.1 -
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 bill1
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