why should you have a survey report

<p>When buying a home most people will buy blindly, taking the property at face value and will not have a survey done before committing to a purchase. A Survey report would be able to tell you everything you need and want to know about the property you wish to buy and is also likely to open up doors for negotiation when it comes to setting a price as well as your eyes to any faults in the property and what it might cost you to get them resolved. Equally it may be as you wished, and tell you that the property is as good and faultless as you had hoped.</p> <p>Many people wrongly believe that when they have a mortgage valuation this does the same job as a survey. However this is incorrect a mortgage valuation completed by the bank is for their benefit, so if you were to default on your mortgage payments they would be able to sell the house on and get their money back. This in no way opens your eyes to the true nature of the property you’re buying, and for that peace of mind the best option is to have a survey report done as well.</p> <p>There are generally two types of surveys, a full building survey; this should bring to light any unseen problems, and is a very detailed survey, and is the more expensive of the two options. This is recommended though if the property you wish to buy is an older property or has had many alterations or a complex structure. In contrast to this you could have a Home buyers report, this will highlight any problems that would affect the value of the property and is usually the survey option taken for those wishing to buy a property built in the last 150 years that is generally in a good condition.</p> <p>You should have a survey report completed before you are committed to buying the property and exchange any contracts. If you do this you will get no nasty surprises after you’re already bound by contract to buy the property.</p>