Survey in flat I am buying but have been renting for 3 years worth it?

jamescast

I have been renting a flat for 3 years and am now in the process of buying it off my landlord.

I am wondering if it is worth getting a level 2 RICS Homebuyers survey. I know there is nothing wrong with the flat (as far as I know), it even had a full electrical report carried out a few weeks ago. There is one part of the floor where if you put all your weight on it makes a little creak. I don't think the surveyor is going to raise this. I have pulled the carpets up and there is a crack in the concrete screen (screed over beam and block) and if it really bothered me I could sort out myself. It's a 1st floor flat, but the floor isn't going to cave in, it's solid in all areas around the crack.

Other than the creaky crack, there is nothing else I worry about. My mortgage advisor also told me the surveyor would not be looking at the whole structure of the building as it is a flat, so will be focused on the internals, and the fact I have been living in it for over 3 years I should think about if it would be wasted money. I don't even think the level 2 survey will go into the structural detail of the floor and walls.

There is also the fact that if the crack is raised I am sure my landlord would not decrease the price, as it is superficial, and this could cause delay, argument etc. As I would not be at a loss I don't think there is any point?

Thanks for taking the time to read.

user1977

They might be focusing on the internals but the surveyor will be reporting generally on the building - you haven't said how old that is or what condition you think it's in. You will also get the surveyor's view on the value, which might be useful.

eddddy

As above, you will also become responsible for paying a share of the costs of maintaining and repairing the building. (For example, if there are 10 flats in the block you might be responsible for 10% of the costs.)

So, for example, if the roof needs major repairs soon which cost £25k, and there are 10 flats - you might have to pay £2.5k.


So, if you want, you can instruct a surveyor to report on the condition of building as a whole - but the surveyor's inspection will be limited by the areas he/she can access.

During the purchase process, you'll also get details of any repairs that are already planned by the management company, which you'll have to pay towards. But some management companies will be better at planning than others. 

jamescast

Thanks for the replies.

The flat was built in the late 1960's and both internally and externally in good condition, roof good condition also.
I will be having a valuation survey which is provided as part of my mortgage service.

Maintenance, ground rent and building insurance is £600pa. The flat is in a block of of 6 flats and there are 6 blocks that are managed by the management company (total 36). I also get a share of the freehold and will be accepted on the management company to have a say on how funds will be spent on the upkeep of the buildings, gardens, fences etc. They have a bi-annual meeting. I have already been made aware of how the current pot is proposed to be spent.

user1977

jamescast said:

The flat was built in the late 1960's and both internally and externally in good condition, roof good condition also.
I will be having a valuation survey which is provided as part of my mortgage service.

Be aware that many mortgage valuations don't even involve an inspection of the property though - and your own surveyor will in any event be taking a closer look at it.

jamescast

Thank you. I am aware that the mortgage valuation won't involve any inspection.

I'm after opinions of whether to get a survey or not, based on living in the building for over 3 years and never having an issue, and the flat being in good, sound condition. I'm wondering how intrusive the surveyor would go or if he will spend 90 mins writing things down, walking around then saying 'all okay, maybe a couple of advisories (that won't change anything)' .

I haven't any experience with building surveyors so am unsure how worth it they are, especially in my situation.

canaldumidi

I agree an internal survey seems pointless since you know the property well.

My concern would be with the building as a whole, both structurally and in terms of potential ongoing maintenance costs, both of which you will be responsible forpaying.

You will have to take a view; if you are confidant the building is sound and wellmaintained, then a survey of the building may also not reveal anythng useful, though Ioved :

I know there is nothing wrong with the flat (as far as I know),

eddddy

jamescast said:

I'm after opinions of whether to get a survey or not, based on living in the building for over 3 years and never having an issue, and the flat being in good, sound condition. I'm wondering how intrusive the surveyor would go or if he will spend 90 mins writing things down, walking around then saying 'all okay, maybe a couple of advisories (that won't change anything)' .

I guess it depends on whether there are any problems with the flat.

People do sometimes feel upset when they pay for a survey, and all the surveyor says "I can't see any problems with the property - everything looks good".

(Maybe it's a bit like if you pay for buildings insurance - and the building doesn't burn down - so you feel like you've wasted money paying for the insurance.)

But equally, the surveyor might spot something major like a bowing wall, or sagging roofline, or cracking - and recommend further investigation.


In case It's useful, to give you an idea of the level of detail, here's an example level 2 survey carried out on a flat
https://www.allcottassociates.co.uk/wp-content/uploads/2019/10/Homebuyer-Survey-Example.pdf


And here are a couple of examples for houses:
https://www.marshallsgroup.com/PDFS/letter pdfs/Sample HBR NO Val.pdf
https://novellosurveyors.co.uk/assets/media/pdf/Example RICS HomeBuyer Report.pdf

Mimi123456

I think having a survey still makes sense. 

Surveyors will have equipment that can reveal hidden damp or some structural issues that a naked eye wouldn’t spot.

it’s probably the biggest purchase in your life, why cut corners?

jamescast

eddddy said:

In case It's useful, to give you an idea of the level of detail, here's an example level 2 survey carried out on a flat
https//www.allcottassociates.co.uk/wp-content/uploads/2019/10/Homebuyer-Survey-Example.pdf

Thank you eddddy very helpful linking the example reports. This confirms that I will be mostly reading what I already know about the property when I receive the report. I'll have another think about getting one but do feel I probably won't, but maybe, for peace of mind.

I think it's hard to illustrate why I feel it may be a waste of money, without showing you round the property inside and out.

Mimi123456 said:

I think having a survey still makes sense. 

Surveyors will have equipment that can reveal hidden damp or some structural issues that a naked eye wouldn’t spot.

it’s probably the biggest purchase in your life, why cut corners?

Thanks I also agree with you., getting it done for peace of mind and the slim possibility of something cropping up. I'm not trying to cut a corner, I just feel that it won't be worth it as I have lived in the property. Then again, I take your point and it is only a one off payment to give further confidence in my purchase.
Maybe I am thinking about it wrong, thinking it won't change the price. Whereas I should be thinking, I now know extra details about the property I didn't know before, or, this confirms that what I thought about the property is correct.