Survey Before Buying.

Martyn_H

^ It's naive to make an offer without knowing the condition of the property.

pjs493

propertyrental said:

Adding 'subject to survey' neither adds nor detracts anything legally. ALL offers are subject to a host of conditions - why not add 'subject to searches' since searches are always done and might cause a buyer to withdraw. Or 'subject to Enquiries'? Or subject to mortgage application'?

No contract is binding till Exchange - before that there's no legal commitment on either side as to either purchasing, or as to the price.

But I agree - buyers who add 'subject to survey' are either naive FTBs who think it protects them in some way, or are pointlessly declaring that they are the type of buyer who will leap at the slightest issue highlighted in the survey and demand a price reduction.

Searches are required as part of the conveyancing process so it goes without saying. Not everyone needs a mortgage so it’s not always subject to a mortgage application and in any case, no decent estate agent would accept an offer unless a buyer has proof of funds and an agreement in principle if they require a mortgage. 

I’m in the process of buying a grade I listed property that’s over 300 years old and I’m a cash buyer. I’d be an absolute fool if I didn’t get a level 3 survey and make my offer subject to survey given the amount of money I’m spending. The property needs some updating which is why I made the offer I did so I’m not going to renegotiate on the basis of things I already know. But if the survey uncovers a huge expensive issue to rectify something I’m unaware of, I’d be an idiot not to go back to the vendor and renegotiate. 

user1977

pjs493 said:

propertyrental said:

Adding 'subject to survey' neither adds nor detracts anything legally. ALL offers are subject to a host of conditions - why not add 'subject to searches' since searches are always done and might cause a buyer to withdraw. Or 'subject to Enquiries'? Or subject to mortgage application'?

No contract is binding till Exchange - before that there's no legal commitment on either side as to either purchasing, or as to the price.

But I agree - buyers who add 'subject to survey' are either naive FTBs who think it protects them in some way, or are pointlessly declaring that they are the type of buyer who will leap at the slightest issue highlighted in the survey and demand a price reduction.

Searches are required as part of the conveyancing process so it goes without saying.

They're commonplace, but they're not "required". It's up to the buyer. A cash buyer might view them as a lot of money for something which merely states the bleeding obvious (or things which can be found out for free from other sources).

pjs493

user1977 said:

pjs493 said:

propertyrental said:

Adding 'subject to survey' neither adds nor detracts anything legally. ALL offers are subject to a host of conditions - why not add 'subject to searches' since searches are always done and might cause a buyer to withdraw. Or 'subject to Enquiries'? Or subject to mortgage application'?

No contract is binding till Exchange - before that there's no legal commitment on either side as to either purchasing, or as to the price.

But I agree - buyers who add 'subject to survey' are either naive FTBs who think it protects them in some way, or are pointlessly declaring that they are the type of buyer who will leap at the slightest issue highlighted in the survey and demand a price reduction.

Searches are required as part of the conveyancing process so it goes without saying.

They're commonplace, but they're not "required". It's up to the buyer. A cash buyer might view them as a lot of money for something which merely states the bleeding obvious (or things which can be found out for free from other sources).

The solicitors I approached for quotes all stated searches were essential. I’m sure if I’d tried to dispatch with the requirement for searches they’d have advised against it. And to be fair £250 for searches on a £400k property is small change. 

user1977

pjs493 said:

user1977 said:

pjs493 said:

propertyrental said:

Adding 'subject to survey' neither adds nor detracts anything legally. ALL offers are subject to a host of conditions - why not add 'subject to searches' since searches are always done and might cause a buyer to withdraw. Or 'subject to Enquiries'? Or subject to mortgage application'?

No contract is binding till Exchange - before that there's no legal commitment on either side as to either purchasing, or as to the price.

But I agree - buyers who add 'subject to survey' are either naive FTBs who think it protects them in some way, or are pointlessly declaring that they are the type of buyer who will leap at the slightest issue highlighted in the survey and demand a price reduction.

Searches are required as part of the conveyancing process so it goes without saying.

They're commonplace, but they're not "required". It's up to the buyer. A cash buyer might view them as a lot of money for something which merely states the bleeding obvious (or things which can be found out for free from other sources).

The solicitors I approached for quotes all stated searches were essential.

Then they were all wrong. What other wrong advice might they have given?

housebuyer143

pjs493 said:

user1977 said:

pjs493 said:

propertyrental said:

Adding 'subject to survey' neither adds nor detracts anything legally. ALL offers are subject to a host of conditions - why not add 'subject to searches' since searches are always done and might cause a buyer to withdraw. Or 'subject to Enquiries'? Or subject to mortgage application'?

No contract is binding till Exchange - before that there's no legal commitment on either side as to either purchasing, or as to the price.

But I agree - buyers who add 'subject to survey' are either naive FTBs who think it protects them in some way, or are pointlessly declaring that they are the type of buyer who will leap at the slightest issue highlighted in the survey and demand a price reduction.

Searches are required as part of the conveyancing process so it goes without saying.

They're commonplace, but they're not "required". It's up to the buyer. A cash buyer might view them as a lot of money for something which merely states the bleeding obvious (or things which can be found out for free from other sources).

The solicitors I approached for quotes all stated searches were essential. I’m sure if I’d tried to dispatch with the requirement for searches they’d have advised against it. And to be fair £250 for searches on a £400k property is small change. 

Only required if you are getting a mortgage.. They are not required for all circumstances by any means. 

Grizebeck

housebuyer143 said:

pjs493 said:

user1977 said:

pjs493 said:

propertyrental said:

Adding 'subject to survey' neither adds nor detracts anything legally. ALL offers are subject to a host of conditions - why not add 'subject to searches' since searches are always done and might cause a buyer to withdraw. Or 'subject to Enquiries'? Or subject to mortgage application'?

No contract is binding till Exchange - before that there's no legal commitment on either side as to either purchasing, or as to the price.

But I agree - buyers who add 'subject to survey' are either naive FTBs who think it protects them in some way, or are pointlessly declaring that they are the type of buyer who will leap at the slightest issue highlighted in the survey and demand a price reduction.

Searches are required as part of the conveyancing process so it goes without saying.

They're commonplace, but they're not "required". It's up to the buyer. A cash buyer might view them as a lot of money for something which merely states the bleeding obvious (or things which can be found out for free from other sources).

The solicitors I approached for quotes all stated searches were essential. I’m sure if I’d tried to dispatch with the requirement for searches they’d have advised against it. And to be fair £250 for searches on a £400k property is small change. 

Only required if you are getting a mortgage.. They are not required for all circumstances by any means. 

I've brought various houses with no searches and no issue

I did my own research 

Grizebeck

user1977 said:

pjs493 said:

user1977 said:

pjs493 said:

propertyrental said:

Adding 'subject to survey' neither adds nor detracts anything legally. ALL offers are subject to a host of conditions - why not add 'subject to searches' since searches are always done and might cause a buyer to withdraw. Or 'subject to Enquiries'? Or subject to mortgage application'?

No contract is binding till Exchange - before that there's no legal commitment on either side as to either purchasing, or as to the price.

But I agree - buyers who add 'subject to survey' are either naive FTBs who think it protects them in some way, or are pointlessly declaring that they are the type of buyer who will leap at the slightest issue highlighted in the survey and demand a price reduction.

Searches are required as part of the conveyancing process so it goes without saying.

They're commonplace, but they're not "required". It's up to the buyer. A cash buyer might view them as a lot of money for something which merely states the bleeding obvious (or things which can be found out for free from other sources).

The solicitors I approached for quotes all stated searches were essential.

Then they were all wrong. What other wrong advice might they have given?

It amazes me how often solicitors are wrong about stuff 

TheJP

pjs493 said:

TheJP said:

I would be rejecting an offer if it had subject to survey attached to it. Lets me know the mentality of the buyer and that there will 100% be a renegotiation coming.

I’d never make an offer without it being subject to survey. You just never know what structural issues could be there without a survey. It’s a massive risk to a buyer to not make an offer subject to a survey. If a survey raises massive red flags, the buyer can either walk away or renegotiate as would be appropriate in such a situation if they wished to proceed. Most buyers won’t use it as an excuse to renegotiate, but will feel the need to renegotiate if something that wasn’t made clear in the first place is highlighted in the survey. Especially if it’s a big expensive job like a new roof. 

Glad I didn’t buy from you I guess. 

Its an irrelevant statement, you can pull out or renegotiate based on a survey, its up to the buyer whether they will negotiate. It has no legal standing so yes it can be a term but wont mean that any issues will mean a reduction in price.

Bigphil1474

OP, have you asked if you can get a copy of any previous surveys? Might save you a few quid. Some people sell them on at a reduced price or give them away. We got a copy of the survey from our first buyer who pulled out. Helped us get a few things done, but he gave it for free.