WHAT DOES MY HOUSE SURVEY MEAN?
Thu 05 Mar 2020
So, you’ve finally found the house of your dreams.
It’s in exactly the right location, with the accommodation you wanted.
Near the station.
And the shops.
They’ve even got the tiles you like in the bathroom.
You’ve made your offer, and you’re waiting for the agent to call with the answer.
You’ve got butterflies! How long since you had that feeling?
And then much excitement as you find out that your offer has been accepted!
You may opt to have a detailed survey of the property, such as a homebuyers survey.
This is a sensible precaution, but be prepared – if you’ve never read a survey report on a property, they can sound very alarming.
It will make the perfect home you’ve found sound like a death trap.
There are 2 things you should bear in mind when you read your survey.
Firstly, you have paid the surveyor to find fault with the property, so that is what he will do. Everything, however insignificant, will be mentioned, so you could easily end up with a long list of defects that require attention.
Secondly, the surveyors are bound by rules, set out by the Royal Institute of Chartered Surveyors (RICS) which specify how the defects must be reported, using a traffic light system:
Green That’s OK,
Orange May require attention but is not considered urgent,
Red Immediate attention required, a potentially serious defect, posing a risk to persons and property.
From experience, it is a good idea to go back to see the property, with the survey report, and look at the points which the surveyor has raised. Anything in red sounds bad, but sometimes they can be easy to remedy, so don’t be put off until you know exactly what you are dealing with. Very often, the surveyors comments will seem much less alarming, once you have put them into context.
For instance, you might want to get a report from an electrician on the electrical installation, or a gas engineer on the boiler. We often arrange to obtain reports for buyers from roofers, builders, damp and timber experts, and plumbers. More often than not, the points the surveyor has mentioned turn out not to be as serious or as expensive as they first seemed.
So don’t be put off from buying that perfect property. It’s still the place you fell in love with.
Just look into the points that the surveyor has mentioned first, before you decide whether you should go ahead with the purchase or not.
Take advice from experts.
Get your dad round (dads love giving advice on stuff, it makes them feel important),
And use your own judgement.
Often, things are not as bad as they sound.
If you want to discuss a survey you’ve had done, call us on 01923 230302