Why should I get a survey done?
So you’ve had your offer accepted on a house or flat – what next? Well you may wish to consider getting a survey done.
Surveys are useful in order to:
- Find out about the condition of the property you are purchasing
- Give you a legitimate reason for negotiating the buying price
- Ask the seller to rectify the problems that the survey raises before you move in
How much do surveys cost?
The costs of a surveyor checking the condition of a property can vary significantly. It is advisable to attain a few quotations before you choose whom you wish to go ahead with.
The price of property survey depends on:
- The location of the property
- The size of the property
- The type of the property
Why are surveys advisable? Seeing as you are already spending so much on the purchase of the property itself, do you really need to spend any more on any more expenses?
It is always important to be aware of any issues affecting the property before you buy a house. This enables you to make an informed decision about the price you are actually willing to pay for it and you will have a realistic idea of any future costs you will need to budget for in order to rectify any problems in the property you are buying.
The survey result may also enable you to negotiate with the seller of the property. For example, if the result of your survey finds that you will need to undertake repairs that will cost £5,000 you may wish to request that the purchase price is reduced by £5000. Another option would be for you to ask the seller to make the repairs suggested by the survey report prior to you moving in.
This is not applicable to buying new build properties where an ordinary survey will not be necessary. A new-build snagging list is something you may decide to get done. This is a survey that is specialised for new homes. It raises defects such as plumbing work or paintwork that requires completing in a higher standard. The independent adviser who arranges this type of survey will also have the ability to arrange for the developer to rectify these mistakes.
If you would like Ringrose Law to act on your behalf in your sale or purchase, please contact a member of the Conveyancing team at Ringrose Law at one of our offices in Lincoln, Boston, Grantham, Sleaford, Spalding and Newark.