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What do people do for surveys? Is a homebuyer survey sufficient or is a full structural survey generally required? Any recommendations in London and what price will I be looking at?
Depends how good you are at spotting things yourself - and value of property.
If you're wanting to haggle the price down based on condition then they can be useful for that purpose if it's not already cooked into the price.....
DISCLAIMER just my personal opinion - for legal advice consult a qualified professional grown-up.
I’ve only ever use homebuyers reports, in my humble opinion a full survey is more suited to older properties with obvious concerns. I found homebuyers reports useful on the first few refurbs I did but also quite limited as often stated a problem that was quite obvious but suggested further investigation is required. Eg Damp
However they have also been instrumental in my pulling out of a few deals due to dodgy extensions and structural issues.
As I’ve become more experienced I’ve not used them as I now know more of the pitfalls instead paying £45 for a comprehensive damp survey or using tradesman I’ve used before to give me a free quote for plumbing or electrics etc. The last terraced property I bought had some cracks in upstairs walls and ceiling I was concerned about but I was able to buy a partial structural survey just to look at those concerns for about £350, far less than a full survey.
I think I am going to do a full structural survey - the property looks in decent condition but it was built in the 1930s. Does anyone have any advice who to use?
Hi Joseph,A company called Skyline Surveyors has a specialist BTL survey product which may be of interest to you. Neither myself or Property Tribes has any affiliation with this company, I just happen to know about this product because I interviewed the surveyor who runs the Residential Property Surveyors Association and he talked about it.
Hope that helps?
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Don't waste your money on a structural survey. Anything worth mentioning will be on a homebuyers and any deal breakers will be on the lender's valuation.
They can be fluffy at times but as others have said, its a good tool for negotiating the price down
It's often worth getting a homebuyers report especially if you are buying an older property. If something arises that has cause for concern you can then instruct a specialist to investigate further. (*Moderator note: Recommendation removed as member has not passed probation and therefore not permitted to make recommendations*).