Why do I need to pay for a survey?
When you get a Building Survey through a registered company such as Chekes you are paying for the peace of mind that comes with knowing there are no internal or structural defects that will change your dream house into a cash trap.
A house is probably the most expensive thing that you will ever buy and it’s worth making sure that everything has been checked out thoroughly. A survey will help you identify an issues that may not be immediately obvious, as well as telling you whether it is worth what you are paying for it or if you need to budget for any extra work (and provides a more official basis to start any price negotiations from, rather than just gut feeling.)
What are we paying for?
This will depend on the type of report that you commission. usually a Homebuyers Survey will be sufficient: You’ll get a surveyor who will visit the house in person and look the interior and exterior of the building and provide a written report of the building and it’s related services. You’ll get a list of issues which may need looking at, alongside estimated costs to mend/fix the issues. If needed, you’ll also get details of any further investigation that might be needed.
If you new house is over 100years old, is a listed building, or is in a poor state then we’d recommend you get a Building Survey instead
Isn’t it the mortgage company’s job?
If you are getting a mortgage, your mortgage company will also ask for a valuation report, however this is not a property survey and will not necessarily find out whether your potential new home has any issues or building problems – it is simply for the bank to check that if you don’t make your mortgage payments, that they can sell the house and recover back their loan (which, remember, is less that the price you are paying because you also have to pay the deposit.)
When considering who organises a survey when buying a house, it is always safer for you to organise the survey yourselves, that way you can be sure that you are getting the full picture before committing to such a large purchase.
How much does it cost?
As with everything, the costs will depend on several factors, more specifically the number of bedrooms, purchase price and location of your new house.
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