A comprehensive report detailing the current condition of the property, any legal or health and safety issues and highlighting repair needs.
A bank or mortgage valuation carried out on a property you plan to purchase is NOT a survey.
Valuations are inspections carried out on behalf of the lender, to ensure that the property is considered safe for lending purposes i.e., the lender would have no issues in re-selling the property in the event of repossession.
This is usually very quick overview to ensure that no obvious structural failings, major damp problems or inappropriate/unregulated works have been carried out.
A Homebuyers Survey is specifically designed for the buyer to confirm the condition of all parts of the property. This ensures that the buyer is aware of any works and repairs needed, before completing purchase.
A (Level 2) Homebuyers Survey was undertaken on this 1960s bungalow in Flintshire, North Wales by Plumb Stone Surveyors. The property was generally well maintained with no obvious issues on initial viewing.
During inspection, Plumb Stone Surveyors viewed the underground drains and revealed parts of the system to be formed in pitched fibre.
Pitched fibre was used for drains mostly between the 1940s – 1970s but is now recognised as being a poor material for this purpose, prone to blistering, distortion, and in some cases, complete collapse.
Acting upon our advice, the buyers had a full drainage survey undertaken which revealed the drains to be mostly formed in pitched fibre, which was in poor condition. Full replacement was necessary, costing around £5000. The buyers were able to renegotiate the purchase price to cover the cost of this work.