What kind of survey on a retirement flat?

drowningnotwaving_2

Good morning all, please can I have some advice on a buying question regarding surveys?

My elderly mum is about to buy a flat in a retirement block, leasehold, and we are lost about what survey we need. She doesn't have a mortgage (cash buyer) but presumably it would still be wise to have someone look at the property? Or can we not bother given it's in a block of flats and the structure of the building is not her responsibility anyway!

I've bought and sold many times but never a flat so we're both a little bit at sea.

Any advice gratefully received.

Thank you.

user1977

It's her responsibility in the sense that she'll be paying her share of whatever the costs are. So the principles aren't really that different. How old is the building? 

drowningnotwaving_2

Thank you for your reply. It was built in the 1980s. I take your point - I'm guessing that the homebuyers survey would be the best way to go then?

tacpot12

I'd agree that a Level 2 (what used to be called a Homebuyer's report) is what you need. We had a Homebuyer's report on a leasehold flat that we were buying. It correctly spotted that the roofline was not in great condition, and sure enough we got a bill about five years down the line for the renewal of gutters and fascia.

The survey will spot if there are any external indications of structural problems, and I would say that your Mum should not buy the property if there are any latent defects.  

drowningnotwaving_2

Thank you - that's really helpful 

NameUnavailable

You might want to read about the possible problems you might have down the line if you inherit the flat. People have found them difficult to sell and get stuck with having to pay the service charges in the meantime - which tend to be very high for retirement flats. Something to think about and plan for.

NameUnavailable

As for the survey I wouldn't bother if you or someone you know, knows enough about property to be able to see if it looks in good condition or not. What's the paintwork like, general state of the communal areas/grounds etc.?

Much more important is reading and understanding the terms of the lease which will stipulate what you are liable for in terms of costs, and looking at what has been spent over the last few years and any planned works that are due.

thegreenone

NameUnavailable said:

You might want to read about the possible problems you might have down the line if you inherit the flat. People have found them difficult to sell and get stuck with having to pay the service charges in the meantime - which tend to be very high for retirement flats. Something to think about and plan for.

This.  I know two people who have had this situation.

drowningnotwaving_2

Thank you - yes we know about the situation wrt to paying service charges once we inherit the flat. Unfortunately our mum doesn't really have any choice as she can't afford anything else where she wants to live and has had a couple of falls which have left her wary of living on her own. It's a really tough situation. Thank you for the warnings.