Myth Busting: Do I need to have a survey on my property?

Although widely misconceived, purchasers do not have to obtain a building survey when they purchase a property. As you will already be aware, as solicitors, we cannot physically inspect your purchase property, and of course, there may be matters beyond our area of legal expertise. We are instructed to investigate the legal title of a property, not the bricks and mortar.

Understanding the Role of Surveys

It is also sometimes misconceived that a mortgage lender will carry out their own survey. If you are obtaining a mortgage, your lender will have their own requirements; however, many only arrange for a valuation report to be carried out.

Mortgage lenders usually advise that there may be defects in the property which are not revealed by the inspection carried out by their valuer and that there may be omissions or inaccuracies in the report. They encourage borrowers that they should not rely on a valuation report in deciding whether to proceed with the purchase and to obtain a more detailed report on the condition to determine whether the property is suitable.

The Importance of Property Surveys

Therefore, a survey of the property may be carried out in addition to the legal work and searches that we put in hand. We raise additional enquiries relating to the title of the property, which will supplement the property information forms supplied by the sellers and official searches on the property. After receiving the responses to these questions and the official searches for the property, further information is often required that cannot be answered without a survey.

It is important to remember that the property being purchased will be sold in its current condition, and, in general, the seller is not liable for any defect. It is for the buyer to discover any physical faults in the property. For this reason, a survey is always advisable to discover physical defects that are not readily apparent on inspection of the property. We usually recommend that our clients arrange for a qualified surveyor to carry out a full structural or building survey.

Benefits and Considerations

Arranging a comprehensive survey has several benefits. In addition to highlighting any defects, a surveyor can provide guidance on matters important to you as the buyer. We would, therefore, suggest a survey be carried out before the exchange of contracts, as once the exchange has taken place, you will no longer have the right to withdraw from the transaction on the grounds of a physical defect in the property.

The survey results may reveal matters that will require further investigation or even give grounds for negotiating a reduction in the purchase price, both of which must be conducted before a binding contract is entered into.

• There are some main options open to a buyer: To commission a Home Buyer’s Valuation and Survey Report. These surveys provide adequate information if you are purchasing an ordinary suburban property built within the last 100 years. However, of course, the survey result is not a guarantee of the state and condition of the property. This type of survey is relatively superficial; or
• To instruct an independent surveyor to do a full structural survey – these are often recommended for older or more unusual properties. The potential expense of a full survey deters many from choosing this option. It is worth noting that the expense of a survey is most probably preferable to discovering too late that expensive structural repairs need to be done. The exact expense will depend on what the surveyor has been instructed to investigate.

If you would like to discuss surveys, please get in touch. I can be contacted on 0330 818 3208 or via email at [email protected]

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