Why the home buyers survey should not be feared.
The process of buying a home might seem like a long and arduous one. In some cases it is and in others you’d be surprised at how smoothly they go. It’s still a great fear of many buyers when it comes to the time of the valuation report. This is where you get a detailed breakdown of the condition of the property so that you can be totally sure that what you are buying is of good quality. There is an old Latin saying that applies to house purchase that you might have seen on some of the contracts. It states “Caveat emptor” which literally means “let the buyer beware”.
It never feels good when Latin is employed in a document or sentence but do not be afraid. As solicitors Sam Conveyancing will tell you this is why the Homebuyers Survey is needed. Introduced in July of 2009 the Homebuyers Survey was designed by the Royal Institute of Chartered surveyors to have a unified one stop shop of a report for buyers, lenders and conveyancers to work from.
You should indeed beware when buying anything but the place that you are expecting to spend the rest of your lives in should get a higher degree of concern. The report will highlight any issue that the property has and the conveyancers will highlight any possible negative convients on it that might restrict what you can do with the place. If not then another saying comes into place namely “decide in haste, repent at leisure”.