Building Surveys and the surveyor London

Buying a new house is one of the biggest purchases most people ever make yet it is surprising how many people enter into such a big investment without doing their due diligence. That due diligence can simply take the form of getting a survey conducted on the property by a surveyor London.

Although a building survey or property survey as they are also known as are not required by law, the very fact you are about to invest thousands of pounds into a property means that it would be highly advisable to have a survey done.

One of the biggest benefits of having a survey completed before purchase of a property is the money that it can save you by identifying what are sometimes very costly defects within the building structure. Repairs too structural defects can cost a lot due to the difficulty in accessing them.

When someone sells a property, they sometimes get a Home Condition Report prepared. This is often part of the Home Information Pack that the seller is obligated to get done when he or she is selling the property. The Home Condition Report will offer at least some guidance on the property condition, but it is nothing like getting your own survey completed.

There are basically three types of survey that can be carried out on a property that is up for sale. They are a valuation survey, a Home Buyers Survey and a Building Survey.

A Valuation Survey will usually be taken care of by the mortgage company that is going to lend you the money to buy the home as they want to be sure of the value of the property that they will be lending money against. This type of survey does not go into much detail about the structure and likely repairs, etc as it is only meant to provide a basis for valuing the property at current market levels.

The Home Buyer Survey was created for people who did not want to pay for a Building Survey. In this survey, the surveyor London will look at the general condition of the property and also look for any structural defects. A valuation of the property will also be offered but this is for insurance purposes and should not be taken as a market valuation.

The Building Survey costs more than the Home Buyer Survey but in this, the surveyor London will look in much greater detail and will not only report on structural defects but will also inform about the cost of repairs. The surveyor London will also see of there is any work that would be needed within the following 6 months of the survey.

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