Do I Need a Survey When I Buy Property?

Emma Selfridge Lawyer
Nov 30, 2023
3 min read

survey buyer beware — Buyer Beware / Caveat Emptor

Do I Need a Survey When I Buy Property? The short answer is YES.

Buyer Beware applies and means the property is “as is” or subject to all defects. It is vital that you carry out searches, inspections and survey so that you are aware of any defects. From completion you will take the property subject to any defects (structural or legal). To avoid buyer’s remorse it is recommended that you ask relevant questions of the seller and record all statements in writing. Have everything confirmed by an expert.

Searches

Local, Coal, Environmental, Drainage & Water. Your Conveyancer will obtain your searches for you but Conveyancers do not attend the property and property inspection and survey* are yours to arrange. Your Conveyancer also cannot check the seller’s replies are correct. They can only report to you what the seller has stated. You must also employ experts to check things like the gas and electrics. The seller is not obliged to have these checked for you.

* Surveys are now referred to as RICS Survey levels 1, 2 and 3. They used to be called a Homebuyer’s Survey and a Structural Survey. The latter being the most detailed and expensive.

Survey Levels

Additionally the Survey should be as detailed as you can afford. A Homebuyers Survey (Level 2 RICS Survey) is great but if you can afford a Structural Survey (Level 3) it is worth it. You can use the Survey to raise with the seller any issues revealed and to obtain a price reduction. However, always remember to have your mortgage offer reissued to reflect any new price. Alternatively, the seller may be prepared to carry out the works pre-exchange. Negotiate this via the Estate Agent. That is their role.

Adverse Surveys

Your survey may reveal structural concerns. It is advisable to reveal the survey to the seller and their Conveyancer in order to negotiate terms. Make enquiries or request a discount as soon as possible via the Estate Agents and your Conveyancer. NB: You cannot raise enquiries after exchange. Resolve all matters before exchange. Once exchanged you are legally bound and cannot raise things.

Lender Valuations

Do not rely on the lender valuation. It is NOT for your benefit. It is a simple valuation (not survey) and only the Lender may rely on it. Plus, it is NOT sufficiently detailed and may be a desktop valuation with no physical attendance at the property.

New Builds

If you are buying a new build plot you may still want a surveyor to look at the build quality and point out any snagging issues or potential defects. A new build comes with a 10 year structural guarantee. Mainstream developers will offer NHBC. Other developers may use a different provider but you need to check that they are accepted by your lender. Each lender has different lending criteria and requirements. Again, buyer beware applies and NOT all developers are equal.

Even if you are buying from a respected nationwide developer, it would be against legal advice to proceed without a Survey. On all New Builds a surveyor’s “snagging report” is advisable.