A property survey is crucial for several reasons, especially when purchasing, selling, or developing property.
In the latest in our series of posts to mark this year’s National Conveyancing Week, our Residential Property Solicitors tell you why.
- Identifying Structural Issues: A property survey can reveal underlying structural issues such as cracks, subsidence, damp, or roofing problems that might not be visible. This helps buyers understand the true condition of the property before making a purchase and whether the property they are purchasing is safe and helps to ensure they are not going to be landed with any big bills when they move in.
- Planning for Repairs or Renovations: A survey can reveal areas that require attention or require planning permission, such as extensions or structural alterations.
- Legal and Boundary Disputes: Surveys help establish accurate property boundaries, which is crucial to avoid future disputes with neighbours.
- Valuation of the Property: Surveyors can offer an assessment of the property’s value, helping you make an informed decision about whether the asking price is reasonable and assisting in confirming how much you should insure your property for.
Please be aware that any survey/ valuations carried out by a mortgage lender rarely checks the condition of the property and they usually only carry out a valuation to ensure the property is correctly valued.
There are various types of survey available, including:
- Condition Report: Basic, high-level overview, usually for newer properties in good condition.
- Homebuyer Report: A more detailed report for standard homes, focusing on major issues that might affect the property’s value.
- Building Survey: The most comprehensive survey, ideal for older properties, unusual constructions, or those requiring significant work.
Bookers & Bolton would strongly advise you to carry out a survey on all property purchases to ensure you are fully informed and aware of any issues with your property prior to exchange of contracts.
Residential Conveyancers Alton, Hampshire
If you are buying or selling a property and want a free, no-obligation quote, click here.
To speak to one of the team, call 01420 558335 or email enquiries@bookersandbolton.co.uk.
For more information about our services, accreditations and the team members involved, please visit our Residential Conveyancing page.
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