At Owen Kenny, we are often asked whether you should have a survey. The only advice that we can really give you is that you may be making the most important investment in your life and you should use this as an opportunity of making the fullest possible enquiries. This of course includes a full survey.
The survey often undertaken by your lender is known as the valuation report and has its limitations. It may be better for you to ask your financial advisor or lender to arrange a full survey or home buyers’ report, which will not only incorporate the valuation but will also provide you with a much more detailed summary of the surveyor’s opinion of the property. You should consider this at the time that you are arranging the mortgage in order to get the best possible price. Alternatively, we can put you in touch with some local surveyors who would be happy to help.
When you receive your survey, you should read it carefully including all the small print and if there is anything that you feel needs further investigation or if you feel that the price should be reduced, then you will need to arrange this through the estate agents before exchange of contracts.