I am about to buy a property in London, the generic valuation has been done by my lender already - which went ok. I wanted to know if these homebuyers reports are as thorough as they say and if its worth spending that much money on them.
2007-07-17 23:29:47 · 7 answers · asked by susannehiepe 1 in Home & Garden ➔ Other - Home & Garden
the homebuyers report is geared especially towards you, the buyer, unlike a standard valuation report (which is just for lending purposes)
If its a very old house, or you have particular concerns (ie cracks in the walls) then yes it would be a very good idea, they are not cheap (usually double the price of a standard) but could save you a lot of probs/expense in the long run.
If the house is a new build, then it properly would warrant it
2007-07-17 23:37:03 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The lenders report is normally a standard survery to check the property exists and isnt about to fall down etc
If you have a friend or family member that has experience with buying property or is in the trade ie builder, plumber etc get a second viewing and get them to come with you and have a real fgood look round, get into the attic if you have one and check the roof etc if not you could always pay a local tradesman.
Failing that pay the extra to get a thorough survey its quite costly but worth while if your unsure about anything.
2007-07-17 23:42:48 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Not worth the paper they are written on. You would be far better paying a builder to walk around the house with you giving you verbal advice.
Or ask aroudn friends/family, find a few people who have moved house and lived through maintaining houses.
I never bother with any survey anymore. If there is an issues they just recommend you have a more detailed survey anyway...waste of time...and include daft statements like "the roof has a limited lifespan", "the wiring will probably need checking"...daft comments
2007-07-17 23:47:48 · answer #3 · answered by Michael H 7 · 0⤊ 0⤋
If it's an older property or has had major work done on it at some point (extension etc) then I'd get one done. Don't bother getting it through your lender. Shop around - search through RCIS (Royal Instituation of Chartered Surveyors) or online to find one in your area. http://www.ricsfirms.com/vw/search/location.aspx
You can normally negotiate with them especially if you want them to check something specific, and then when you buy the property you'll have the information of any faults/potential issues in advance, rather than going in blind (so to speak).
It's worth the few hundred pounds when you're paying hundreds of thousands of pounds for a flat or house.
2007-07-18 03:17:44 · answer #4 · answered by saurasmile 2 · 1⤊ 0⤋
the homebuyers report is done by the seller and should contain all the information as to any work that needs doing. the lenders report is just a basic report that the property is still standing and they can recoup their money if you default.
2007-07-17 23:36:50 · answer #5 · answered by lily 5 · 0⤊ 1⤋
no longer in case you're extremely au fait with development shape and concern. in case you have a prepared eye and understand what you're staring at you may fore flow surveys. a 10 year previous sources would be geared up to fashionable standards yet that isn't forestall shape faults. If uncertain have the survey accomplished. yet have a competent go searching first besides as you may spot something that facilitates your determination.
2016-11-09 19:06:13 · answer #6 · answered by ? 4 · 0⤊ 0⤋
Friends had one done on the house they wanted.
It informed then that the bath needed cleaning...
Not however that the boiler was so gunked up with limescale it would pack up within 6 weeks of moving in...
2007-07-18 00:30:04 · answer #7 · answered by Girlie Electrics 7 · 0⤊ 0⤋