Not getting a survey on flat

Rachel90167

Hi everyone,

I'm a FTB in the process of purchasing a leasehold flat and I'm considering not getting a survey. The flat is on the ground floor of a small purpose built block, which is around 25 years old. It has been rented out for the past few years so my understanding is that the vendors will have needed to ensure that the wiring/boiler is safe in order to do this. I'm also planning to replace the bathroom and kitchen within the first year or so. My brother has also seen the flat and can't see any issues where it would be useful to get a survey (he has experience buying houses/flats and renovating).

My thinking is that considering these points a survey would be a waste of money. Am I making a big mistake? 

gwynlas

No you might need a valuation for mortgage purchases but on a purpose built flat less than 30 years old it is unlikelty that a survey will tell you any more than you have already seen. It is more relevant to ensure that there is a good management conpamy and a sinking fund in place to deal with any biolding wide issues that arise such as routine maintenance etc.

Rachel90167

Thanks - my mortgage provider has carried out the valuation survey and that came back fine. I've asked my solicitor to check for details of the sinking fund and if there are any upcoming works planned. The development (there are a few of these small blocks) seems to be well maintained (e.g. the windows are all new etc.)

greensalad

Yes. Get a homebuyer's at the very least.

youth_leader

I was a cash buyer and also wondered about having a survey, but a friend didn't have one, and ended up with a huge bill for subsidence. 

I do think it's like buying a car without an MOT, if you can find the money, I'd definitely have one.  

Tiddleshalifax

It’s upto you as a buyer to perform dudiligence and if you don’t feel it’s necessary, that’s your decision. People on here will offer advice both for and against but ultimately, it is your decision. 

Personally, I would. But that’s because it’s a flat and I would worry too much if I didn’t. 

I’m in the process of purchasing my next house and haven’t but it’s 8 years old. 

cattie

Personally I'd not bother. I had a homebuyer's report done on my current property (a flat) when downsizing a few years back & all things considered, it was a waste of money. Especially as it was my intention to have the property, that had been built in the 60's, refurbished anyway.

I've always had surveys carried out on previous properties, but they have been period properties so much older & I considered it money well spent in those cases.

AdrianC

Rachel90167 said:

It has been rented out for the past few years so my understanding is that the vendors will have needed to ensure that the wiring/boiler is safe in order to do this.

Wiring - no. The requirement for an EICR for a tenanted property only came in this year for most tenancies.

Boiler - if it's gas, then an annual gas safety certificate would have been needed legally. That doesn't mean it was ever done. And, even if it was, that's no kind of guarantee that the boiler is in good condition.