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Buying- survey or just mortgage valuation?

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A Which? Survey in 2008 found that one in four homebuyers who did not have a survey before purchasing spent on average more than £2,500 to rectify problems that a survey would have identified and that could have been rectified before purchase (or that justified a substantial price reduction): the other three in four achieved an average price reduction of £2,000!

 

So a Homebuyers survey is well worth the expense: way less than £2000! A Full Structural survey is appropriate in a few cases.

Edited by Jeffrey Shaw

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Would you recommend a full structural survey for a top floor flat or just the homebuyers report?

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A Which? Survey in 2008 found that one in four homebuyers who did not have a survey before purchasing spent on average more than £2,500 to rectify problems that a survey would have identified and that could have been rectified before purchase (or that justified a substantial price reduction): the other three in four achieved an average price reduction of £2,000!

 

So a Homebuyers survey is well worth the expense: way less than £2000! A Full Structural survey is appropriate in a few cases.

 

It really depends on the house in question and the experience of the buyer.I would not always commission a survey,and certainly would not be confident of achieving a reduction in price.The Consumers Association is not required to conduct representative surveys leading to skewed results.

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Would you recommend a full structural survey for a top floor flat or just the homebuyers report?

A Homebuyers Report should be sufficient, unless:

a. the building is very old or Listed (or both); or

b. V has owned the flat for many years; or

c. there are known structural defects.

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We bought our first house 3 years ago, got a full structural as it was a 100 year old terrace. We got a huge document so stuffed with caveats and back covering statements we didn't end up doing any work, and guess what? the house is still standing and has recently been re-sold without a problem.

 

Just bought a 50's semi, went with the valuation survey and an informal, verbal report from a chartered surveyor friend. If the house is in decent condition this is all you need. We also found that having a trusted builder take a look is often more effective than a legally liable surveyor.

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Isn't there a few weird types of homes that you need a structural survey done one?

 

They had an iron structure or something, which rots?

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Isn't there a few weird types of homes that you need a structural survey done one?

 

They had an iron structure or something, which rots?

Yes. Many had black-ash mortar which corrodes wall ties.

See item c in my post #4.

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Yes. Many had black-ash mortar which corrodes wall ties.

See item c in my post #4.

 

although interestingly enough a structural survey includes visual observations for mortar decay, it doesn't compel the surveyor to scope the cavity.

 

Our structural survey indicated some degradation of the wall ties, which we paid a specialist to check, turns out the survey based this on external cracking (minor) and the ties had been re-done years before.

 

What I'm saying is structural surveys are not bibles, and more often than not do not tell you anything that a good builder couldn't. If you feel you offered too much money for a property and want to get something discounted before exchange, by all means pay a surveyor!

 

The above applies for properties that have been maintained and don't have obvious defects, as its more than possible that a mortgage company wont lend without certain reports being carried out on run down houses.

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