It is strongly recommended that homebuyers commission a survey. Anyone purchasing a property can pay for a homebuyer’s survey to check the condition of the building before following through on the sale. Around 80% of those seeking to buy a new home do not commission a report when purchasing a property.
The Royal Institution of Chartered Surveyors (RICS) has revealed that over one fifth of buyers who didn’t commission a survey were left with a property that they would not otherwise have bought if they had realised the extent of the problems.
Recommendation Is That Buyers Obtain Reports
Conveyancing solicitors would generally recommend that their clients obtain either a report or a building survey before following through with the sale. The cost is minimal compared to the actual house price, and it can be beneficial in the long run as it can identify any structural issues which can then be dealt with.
The report also allows the homebuyer to make an informed decision about the purchase. In general, the survey, which is a fraction of the cost of the property, is a small price to pay for the peace of mind. One advantage is that the surveyor can note any issues that may be problematic to the solicitor.
If you are purchasing a property and require a homebuyers report Hertfordshire, you can visit a range of professionals, including https://www.samconveyancing.co.uk/Homebuyers-Survey/Home-Buyers-Survey-Hertfordshire.
Property Survey Has a Number of Benefits for the Buyer
According to The Scotsman, the housing market in Scotland has hit an 11-year high for sales after an increase in parts of the country.
A property survey can be of great benefit to the buyer, whether or not they are seeking a mortgage. The survey can identify problems such as dry rot, roof issues and badly fitted windows. Sometimes other issues can crop up, such as non-compliance with planning regulations. Buying a property without having a survey undertaken means that the buyer is at risk of paying out for costly mistakes.
The vendor is not obliged to inform the prospective buyer about the issues unless they have asked, in which case failure to do so would be misrepresentation. However, it is cost-effective to obtain a survey and can satisfy the homeowner that they are not taking on a raft of expensive repairs.