Homebuyer Survey
Why do I need a Homebuyer Survey?
A common question is: “why do I need a survey when the mortgage company is already doing one?”
The fundamental difference is that they are doing a valuation to ensure that the funds they lend you are secure. It is not a comprehensive survey on the condition of the property and it is not primarily for your benefit. It is always advisable for you to have your own survey when buying a home, so that you know precisely what you are buying. Incredibly, only about 20% of purchasers have a survey! Yet we rarely survey a building that has no defects. It is very often the case that the homebuyers survey highlights defects that are sufficient to negotiate a discount, very often more than offsetting the cost of the survey.
The Homebuyer Survey Involves:
The Homebuyer Survey involves a thorough inspection of the whole property and assessment of condition. Visible defects are identified, such as the presence of cracks, dry-rot, rising damp and woodworm. Homebuyer Survey also look at other factors, such as the roof structure and coverings, internal walls, flooring and partitions and windows, doors and external joinery. Whilst the Homebuyer Survey gives a report on the visible condition of services, these are not tested unless the purchaser requires it. If this is the case, a Homebuyers Survey can incorporate this, alongside an energy performance survey.
At Paramount Associates Ltd we offer a friendly and professional service. Our level of customer care and commitment to our clients has brought us repeat business from those who want to work with people who are always prepared to go the extra mile. Our motto is: ‘proud to be professional’. Call us today to find out why.