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Is a survey worth the money?

House surveys As the housing market is heating up, you may find yourself asking is a survey worth the money? A property survey is optional, you do not have to get one before you buy a house. However, it could

House surveys

As the housing market is heating up, you may find yourself asking is a survey worth the money? A property survey is optional, you do not have to get one before you buy a house. However, it could help you to avoid the expense of discovering unwanted surprises. A survey can provide you with reassurance that, for example, cracks are cosmetic and not actually structural damage. Finding issues like this after the sale has gone through can cost thousands.

What issues can a survey find?

A survey can reveal a whole host of issues within a property. Our surveys are carried out by a qualified surveyor who is a member of the Royal Institute of Chartered Surveyors (RICS). The survey will be a detailed inspection of the property’s condition and the surveyor will advise you about:

Any major structural issues such as unsafe walls or subsidence. Any major repairs or alterations that are needed to rectify damp issues, chimney stacks, windows etc. The construction of the property – information around the age, method of building, types of walls and glazing.

There are different types and levels of surveys available. You can read about them here to help you decide what is best for your situation. The results of the survey may not be the most welcome news. However, you’ll know the risks and potential costs before finalising the sale. Research by RICS discovered homeowners who bought a property without a survey spent on average £5,750 in unexpected repair costs. A cost that can be avoided by having a survey.

Negotiation

A negative survey gives you the ability to negotiate on a few things. If the survey has highlighted any structural issues with the property, you can use this information to renegotiate your offer. You could also use the information to ask for these repairs to carried out before you exchange contracts. Having this expert, independent information will allow you to renegotiate from an informed position and give you the confidence to do so. Getting an independent survey done is the responsibility of the buyer and the benefits of having it done are clear. If you would like further information about the range of surveys we offer, or advice about what survey you need, we’re happy to help. You can send us a message here.  

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