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Choosing the Right Survey When Buying a Property

Choosing the Right Survey When Buying a Property

8th June 2022

Buying a property is exciting, but it can also feel overwhelming with all the legalities and administration to juggle. One of the most popular questions buyers ask is ‘Which survey is right for me?’.

There are many things to consider when buying a property, and choosing the right survey is one of them. Here we look at the types of surveys available and give you the information you need to make an informed decision.

Mortgage Valuation

Surveyors working for the mortgage company perform mortgage valuations. Lenders perform these to ensure the property is worth the loan amount. Significant issues will be noted, but this does not survey the property's condition. These are sometimes even carried out remotely, as they are purely to ensure the valuation is correct.

Full Building Survey

These are high-level assessments that cover everything. This includes obvious and hidden defects. The surveyors will inspect every area of the building, including lofts, under carpets and flooring, walls and structure. They will provide a detailed report of potential issues and costs involved. These surveys are suitable for old properties that need work or are particularly large or unusual.

Condition Survey

This is common for properties in good condition or near new. It is a basic survey assessing the visual aspects of the building rather than behind the scenes. This means areas such as loft spaces and drainage are unlikely to be included. This survey will detect apparent issues with the condition of the building and therefore is not appropriate for more complex properties that are older or may have problems.

Homebuyer Report

As with a condition survey, homebuyers' reports are often used for modern properties in good condition. Significant internal and external features are assessed, and any major issues will be detected. Surveyors will look for potentially costly issues and repair work.

Specific Defect Survey

This type of survey will tend to a specific aspect of a building rather than the whole building. This may be timber, brickwork, mould and dampness, potential subsidence or anything else that could cause issues. Many buyers invest in a specific defect survey after completing a regular survey that may have uncovered signs of a defect.

A specialist surveyor's service, such as Taylor Freeman Kataria, can advise you further on the idea survey type for you. For information about Taylor Freeman Kataria’s services, contact us on 0208 5999911.

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