Surveys

Below is a brief explanation of the four types of survey that cover house purchases.

lender valuation

This is paid for by you and is intended only to assist the lender and so is not strictly a survey. It is unwise to rely on these entirely.

Home-buyerssurvey

This is a standard defined by the Institute of Chartered Surveyors. It is generally recommended for most house purchases. It can often be combined with the lenders valuation and save money.

Full structural survey .

A more comprehensive survey and if the budget allows it should be the budget of choice. It is usually only necessary if the homebuyer’s survey throws up indications of significant problems. You could ask the seller to share the cost. If you need a full structural and survey, there must already be doubts about the purchase, and the seller needs to know. If possible you should also clear this with the surveyor as he will need to know to who is responsible.

Specialist survey

This will consist of checking the wiring and whether there are indications of damp or wall-tie failure. Usually these reports will be free. The person preparing the report has a financial interest in persuading you the work needs to be done. Double check any such report to make sure that the problems identified are real.

Electrical survey

All houses should have their electrics tested at least every ten years. This is because cables, switches, socket-outlets and other accessories deteriorate with use and misuse. There are several signs to look out for that indicates the age of your electrical system and whether your property may require a programme of rewiring. If any of these features are present in your house, your wiring system is probably several decades old. :