When buying a home, getting a property survey features on most people’s ‘to do’ list. However, with everything else that’s going on, from mortgage meetings to packing up boxes, the survey may slip down the list until it’s forgotten completely. After all: you’re not legally obliged to get a property survey at all.
But wait! Neglecting to get a professional survey can land you with problems you never knew existed. Here are the five pitfalls of not getting a property survey when buying a home…
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Missing out on expert, unbiased advice
Professional surveyors look at properties every single day. They are trained and skilled in the art of detecting problems and know exactly what to look for when they step into a home. They have no vested interest in whether you buy the property or not, so you can trust their opinions and advice.
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No basis for price renegotiation
The findings of a RICs property survey carry real weight and can be used for price re-negotiations with the vendor. Without the credibility of the surveyor’s advice, you may struggle in such negotiations. Worse still, you may not know there’s anything wrong with the property worth quibbling over… until it’s too late and you have to foot the bill for works or repairs yourself.
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Can’t guarantee an accurate valuation
There are valuations… and there are surveyor’s valuations. There is a big difference between the two and it can really be worth finding out the accurate price of a property you’re considering before potentially paying the wrong amount; particularly if you are a cash buyer.
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Potential costs in the future
Without the expert eye of a surveyor, you may not be aware of expensive future issues that will become your problem as soon as you get the keys. For example; there may be old wiring that needs replacing; woodworm could be lurking in structural timbers; or you may face huge energy bills due to poor insulation and an inefficient boiler.
A property survey forearms you with information meaning you can factor in future costs when you negotiate with the seller.
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The unknown
The bottom line is that, without a property survey, you are buying the unknown. Are there dangerous or potentially expensive problems with the building? Are there any legal issues? What needs to be done to address any findings? These are all questions that could be answered when you get your survey report.
Different types of property survey reports go into different detail but they all eliminate a certain element of doubt which is one less thing to worry about during a move.
Get in touch
At Trinity Rose, our experienced Chartered Surveyors offer different types of property survey to suit every kind of home. Whether you are buying a new build and want an independent snagging report or are looking at a centuries-old home that needs a thorough, expert building survey, please get in touch.
Whichever kind of RICS property survey you choose it will be a tiny fraction of the purchase price… and worth every penny for your peace of mind.