Should I have a survey done?
Always remember ‘caveat emptor’ which means ‘buyer beware’. It's up to the purchaser advised by his professional advisors to be satisfied with the legal title and structural integrity of the property. There are different types of surveys/inspections. These inspections should be undertaken by a Chartered Surveyor. The first type of inspection is a Mortgage Valuation; this comprises a brief inspection of the property which is done on behalf of a lender and a copy of this brief report may or may not be made available to the purchaser - this will depend on the lenders policy. A Mortgage Valuation is an essential part of the mortgage offer process. The second level of inspection is a Homebuyers Report which can also encompass a Valuation. It goes into much greater detail about the structure and can include a Valuation. Finally, the third level is a Building Survey (in the 'old days' it was known as a structural survey) and this is an in depth report that looks at the fabric of the building and its overall condition and will include appropriate recommendations for remedial works if necessary.