Why have a survey?
Any buyer contemplating a substantial purchase should take advice when buying something expensive. A property, in most cases, will be the largest single purchase a person will make. It therefore makes good sense to find out more about it before being committed to it.
If you are buying a home with the assistance of a mortgage, the lender will probably obtain a valuation report to confirm that the property offers reasonable security for the loan. That valuation, although carried out by a qualified valuer and often paid for by you, is solely intended to satisfy the requirements of the lender - NOT THE BUYER. It provides brief details based on a limited inspection. Even if you receive a copy of it, it is not sufficiently detailed to provide you with enough information upon which to base a decision to proceed with the purchase.
A prospective buyer should therefore commission his/her own report which will cover in more detail areas not included in the valuation.
Click here to download a leaflet which sets out more details of a building survey. Alternatively, you may wish to consider an intermediate report. Further information can be obtained here