Understanding a Property Survey

When you are looking at buying a new home, this is a huge decision, financially as well as emotionally, so it makes sense to do all you can to make sure the choice you make is right. In real estate terms, it is doing your due diligence. It means making sure you know the real state of the property you are intending to buy so you are prepared for what that means in terms of repairs, costs and moving in concerns. There are some things you can control and some you cannot, but with professional help from people including a house surveyor you can do all you can. A property survey is an important part of your due diligence. Not having one for many buyers has led to some really difficult situations. Here is what a property survey is.

What a property survey is

Sellers can also have a property survey done by trusted RICS surveyors, but it is more commonly thought of for buyers or when people are adding a new structure or extension to the property. Banks require a value survey or title insurance to assess the value before they approve that as a loan or mortgage. But that is not the same as having a proper property survey.

If there is a lot of land to consider they will look at the history of the deed and possibly do a title search. This is to ensure there are no discrepancies in who claims ownership, and who actually does own it. It will include research into legal descriptions of the land, and it may include looking at the boundaries, and what other structures are on the land. The more detailed version of the survey will include a sketched map of the land, a description of the land, its address, adjacent properties, and improvements to the land that might be needed. Things like easements and right of ways when there are shared driveways and shared gardens.

A house surveyor will also look at the house itself and look at changes made and whether they are to code and come with permission. What state the home is, what improvements are needed, how things like the plumbing or electrical system look, and generally any major and minor issues you need to know as a potential buyer.

Save yourself money and stress by getting a property and house survey

So basically you have a professional expert who can take a look at your property or your house and tell what state it is in. Then you can consider what stipulations you might make to any offer you make, you can make sure everything is legal and to code, and you will not be shocked when you have to spend another five grand on repairs, or plumbing, or levelling the driveway. RICS surveyors cost you a little bit in the grand scheme of what could happen if you do not do your due diligence, it is well worth the investment.