Choosing the Right Survey

Choosing the Right Survey
Added on August 6th 2019

One of the most important steps in buying and selling properties is to make sure they have an up-to-date survey so that the buyer and the lender know it’s a safe structure and is worth the asking price. There are lots of different types of survey on the market, so you might be wondering which one you need and why.

The mortgage valuation

When you’re buying a new property and arranging a mortgage on it, the lender will conduct its own valuation to see that the place is worth the loan. This valuation might mention any obvious work that needs to be done in order to maintain the value, like fixing loose roof tiles or similar. This is not an actual survey.

What sort of survey should you get?

The different surveys are suitable for different types of property; here are the options:

  • The Home Buyers Report;
  • Home Condition Survey;
  • building survey;
  • asbestos survey;
  • structural engineering survey;
  • subsidence investigation survey;
  • party wall survey, and
  • roof survey.

Do I need a survey?

Your survey will give you an in-depth inspection and report on the property’s condition. It’ll find and highlight any issues that aren’t immediately obvious so that your valuation is much more accurate. The surveyor will look at any structural problems in the walls, ceiling and frames, as well as the wiring, so that you know in advance what needs to be done.

In short, a survey will prevent you from finding out too late that your new home is subsiding or that it needs extensive and expensive electrical repairs.  It’s especially important in older and listed buildings, but can provide reassurance when you’re buying a property of any age.

How do I find the right surveyor?

You’ll need to find someone who works in the area and who is familiar with any common local issues like radon. They’ll also need some experience with the type of building you’ll be buying. What’s very important is that your surveyor is RICS-qualified.

How to get the most out of a survey

If you understand what a survey is all about then you’ll be able to make the most of it. This is what you should think about and aim for.

Use an RICS-qualified surveyor

A professional surveyor will be able to spot potential problems before they become a reality and your lender will trust them with a recommendations and valuations they make.

Talk to friends and family

They’ll be able to tell you what they got out of it and how it helped, as well as recommend a surveyor to you.

Talk to your surveyor

Talk to your surveyor while they’re in the property and ask about any features or concerns you have. Make sure they look at everything. Even if you think your questions are a bit silly, they’ll understand why you’re asking them. It’s your home, after all.

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