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Date posted: 16/10/2013

Don’t Buy A Property Without A Building Survey

As chartered building surveyors it is quite staggering to us that we often see people/companies purchasing new homes or business premises without firstly having the property surveyed.

It really should go without saying that contracts should not be exchanged without having the building inspected by experts and due diligence undertaken.  After all, this is likely to be the single biggest acquisition that any person or business is ever likely to make. 

Yet, whilst most people would never consider buying a car without a test drive, they do sometimes buy a property without a building survey. The RICS recently identified that person’s buying a home who didn’t commission a survey were found to have occurred costs in excess of £7,000.00 due to not identifying defects.

A building survey can of course uncover any issues with the property and highlight any areas that may become problematical in the future.  This information is of course vital when judging the value of a property prior to purchase and could well strengthen the buyer’s position when negotiating a final price.

It will also, of course, ensure that there are no expensive surprises with unexpected repairs after the sale has gone through.

For more information on building surveys call DMP on 01482 623955.