stilover

Had an offer accepted on a house in August. The Mortgage company did their own valuation survey, but have been told that as the house is less than 10 years old, and still in warranty, I shouldn't bother with an independant survey.

How have other people played this? I don't think I need a full structural survey, so I'm looking at maybe an `Home Buyers survey`. Had a quote for £250.

Thing is, I've heard these aren't worth the paper they're written on. Don't fancy paying £250 for F/all. Yet don't want to not bother if a huge crack is found.

People's thoughts?

mamoon2

I wouldn't (and didn't on my last BTL) bother.

Have a look for cracks yourself. The house still has a warranty

Graz

As above, do a decent inspection yourself. Home buyers survey usually has so many get outs e.g. for electric always says get an electrician to check, same with gas.

We had a full survey on ours as it's 1950's, was quite run down due to lack of maintenance, and had been a rental place for quite a while. We had plans to extend so wanted peace of mind that at least the structure was sound. The survey was pretty thorough but still had a lot of get outs.

DJ Dunk

iTrader: (5)

If the NHBC warranty is close to expiration, I'd be tempted to have a survey done anyway. That way you can get any corrective work done before it expires.

Dingdongler

I had a fairly elaborate one done about 10 years ago when I bought my house. It cost £750 back then and was completely useless. It basically said the roof should be checked by a roofing specialist, the electric by an electrician, all the woodwork by a relevant specialist etc etc. You get the picture.

It was the biggest rip off ever.

The only time I would ever get one done now was if I was going to use it to significantly reduce the purchase price. But even then I'd probably rather take my builder along instead

MOTORS S GT

iTrader: (2)

You must know somebody who is a decent builder, or get a recommended one, get them to walk round the property with you, thats what i have done in the past, bung them £100 job done.

David Lock

If there is clay about get it surveyed.

As said a decent builder will know what to look for and have a good look around yourself

dl

Dingdongler

There's clay all over the UK, you're basically saying get it surveyed

RobsyUK

iTrader: (2)

Does a survey effect future insurance policies? I would always get one done just incase.

mamoon2

No

speedking

If there was anything significantly wrong then it would affect the value and reduce the amount that the Mortgage Company was prepared to lend. Unless you have a 90% deposit then the valuation survey tells you all you need to know.

pslewis

The valuation report simply tells the lender that their advance is safe ..... if you are buying at, say, £100,000 and have a £50,000 deposit the lender just needs to know that their £50,000 is safe - NOT your £50,000.

A homebuyers report at £250 is worth doing IMO - you can use it to get much more than £250 Off the price .... very easily indeed, so, in essence it costs you nothing.

Yes, surveys say pretty much nowt except get experts in to do this and that ..... but, it could throw up something like a flat roof showing signs of leaking ....... and there it is, your £250 returned in a lower price.

The costs of buying a property are so high that £250 is lost in the noise - do it.

Dingdongler

For £250 I doubt they'd go up a ladder to look at the flat roof

SPEN555

I paid for a comprehensive survey and agree with what dingdongler says. My report looked like you could take the report and change the address and apply it to any house. Absolute load o $hite!

I am currently looking to move and when I do I will have the cheapest survey done.

danos14

iTrader: (8)

Thing is, I've heard these aren't worth the paper they're written on. Don't fancy paying £250 for F/all. Yet don't want to not bother if a huge crack is found.

People's thoughts?[/quote]


the survey is probably worth more than the warranty..

pslewis

I suspect that the warranty may not pay out, if, subject to a survey, you would have been aware of a fault ...... if you claim on an existing fault. If that makes any sense?

Basically, your negligence I guess?

corradoboy

Surveys are the biggest rip-off in the house buying scene. I think the seller should have to have a full comprehensive building survey done, and the surveyor must then offer a guarantee to whoever buys it for any defects within 10 years. That way there would be ONE survey done per house, instead of the current system where every interested party gets a survey done on the same house. We paid for a full survey on a house and it did highlight massive problems with damp caused by the tarmacing of the drive and insufficient drainage. The ground floor walls and joists were rotting, but the seller refused to accept that the house that an estate agent glanced around and valued at £130k was worth less due to £8k of repairs needed. We walked away £750 worse off ! If it were done my way the estate agents price would be based on the survey which would be available to view by every interested party.

Dingdongler

Surveys are just the tip of the iceberg when it comes to rip offs in this particular industry. How about the ridiculous energy certificate things you have to pay for? Who on earth bases their house buying decision on one of these??

Since 2008 you have to provide one if you are a landlord as well. What is the point of these things especially if the property has been built in the last 10 years to the current building regs??

pslewis

It does show whether energy saving could be an option.

gpssti4

iTrader: (6)

I paid circa £1000 for a survey on my current house. Within 12 months I had a leak on a small lead roof over a bay window. I called the mortgage company and complained that their survey hadn't picked up the previous poor repair. They sent an 'expert' who had a look wrote a report, but wouldn't let me see it, and sent it to the mortgage company who them told me that my tiled roof was fine! Absolute waste of money IMHO.