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Why have
a Survey?


 
  • Which? found that for those who did not have a survey carried out prior to purchasing their property, on average one in four had to spend over £2,500 to rectify defects that would have been identified in a condition survey. For one in ten people it was over £10,000. By contrast, those that did get a survey were able to renegotiate the agreed purchase price by an average of £2,000. The average cost of a survey in the UK ranges between £380 to £800. 
  • The Council of Mortgage Lenders and Which? recommend that all buyers instruct an independent surveyor to provide comment on the condition of a property before it is purchased.
  • You will purchase your property having a full knowledge of its condition.
  • Prevent any future unexpected costs.
  • Ensures your new home is safe.
  • Having an understanding of the property's condition, which allows you to budget for any future repairs.
  • Any discovered defects found in the property will allow you to negotiate on the price with the seller.
  • Allows you to make an informed decision before committing to purchase a property.
  • Provides you with peace of mind.

What is the difference between a Valuation and a Survey?

A Mortgage Valuation is purely for your lender’s purposes. Although sometime referred to as a 'survey', this is not correct. It is only carried out by your mortgage lender to ensure the property value is in line with what you are borrowing. It cannot be relied upon to identify all defects in a property. In certain circumstances on a Mortgage Valuation, a physical inspection of the property is not carried out as the valuation is done remotely. 

A survey is a detailed physical inspection of the property to highlight any current or future issues. On a survey we act on your behalf only. As we are not inspecting for a lender, no biased opinion about the property is given.

Image by Etienne Martin
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