HomeBuyers Report or Building Survey
30 July 2003, 01:18 PM
#1
Scooby Regular
Thread Starter
Join Date: Jun 2000
Posts: 4,413
Likes: 0
Received 0 Likes
on
0 Posts
We're in the process of buy a 1920s three bed house. We've had a valuation report done for the mortgage, but we want to have a more detailed report.
I've spoken to some surveyors and one said that they look at the property in the same detail for both, but the report is shorter and written in more laymans terms for the HomeBuyers report.
First is £350 and second about £500. Anyone want to comment? I was going to plump for the building survay, but if the look for the same things in the hombuyers, is it worth the extra (and will I understand it..
)..
I've spoken to some surveyors and one said that they look at the property in the same detail for both, but the report is shorter and written in more laymans terms for the HomeBuyers report.
First is £350 and second about £500. Anyone want to comment? I was going to plump for the building survay, but if the look for the same things in the hombuyers, is it worth the extra (and will I understand it..
)..
30 July 2003, 01:28 PM
#2
Scooby Regular
Join Date: Feb 2002
Location: nix fur bremser...
Posts: 1,757
Likes: 0
Received 0 Likes
on
0 Posts
We've just moved and went for a full structural survey more for peace of mind than anything else. The placa is 400 years old so you could argue that if it's been around that long, it's not going to fall over now.
The thing to bear in mind is that these guys cover themselves with all sorts of get-out clauses. If the building society you're borrowing from is happy that it represents a safe bet, you should be OK.
If you want something more detailed, I can recommend a good guy who covers (broadly) Northants & Leics.
Cheers
Kav
The thing to bear in mind is that these guys cover themselves with all sorts of get-out clauses. If the building society you're borrowing from is happy that it represents a safe bet, you should be OK.
If you want something more detailed, I can recommend a good guy who covers (broadly) Northants & Leics.
Cheers
Kav
30 July 2003, 01:47 PM
#4
Scooby Regular
Join Date: Jun 2003
Location: use the Marauder's Map to find out.
Posts: 2,041
Likes: 0
Received 0 Likes
on
0 Posts
The Homebuyers report will be full of get-out clauses saying things like they didn't lift any fitted carpets so no warranty is given about the condition of floorboards. They'll also look in the loft, but will not move anything to check on the condition of what lies behind.
If they do more detail than that in the structural survey it may be worth the extra.
Doug
If they do more detail than that in the structural survey it may be worth the extra.
Doug
30 July 2003, 02:08 PM
#5
Scooby Regular
Join Date: Mar 2000
Location: Weston Super Mare, Somerset.
Posts: 14,102
Likes: 0
Received 0 Likes
on
0 Posts
Certainly worth the relatively small extra IMHO. Surveyor might just pick up a problem (e.g. damp, settlement, wiring or whatever) in what is an 80 year old construction that could be missed in homebuyers only report. This could be a price negotiating tool if there is some work to be done. Also added peace of mind if given all clear. DL
30 July 2003, 02:09 PM
#7
Scooby Regular
iTrader: (1)
Join Date: May 2001
Location: Berk (s)
Posts: 2,491
Likes: 0
Received 0 Likes
on
0 Posts
If the Homebuyers report doesn't save you the difference in identifying problems to reduce your offer, you've got the wrong surveyor. Do it !!!!
1) It's self financing (& more)
2) What's £150 in the scheme of things for added detail.
3) I'll eat my pants if it doesn't identify a good reason to reduce your offer by more than £150. (particularly on an older property.)
D
[Edited by Dunk - 30/07/2003 14:09:23]
1) It's self financing (& more)
2) What's £150 in the scheme of things for added detail.
3) I'll eat my pants if it doesn't identify a good reason to reduce your offer by more than £150. (particularly on an older property.)
D
[Edited by Dunk - 30/07/2003 14:09:23]
Trending Topics
30 July 2003, 03:46 PM
#12
Scooby Regular
Join Date: May 2002
Posts: 633
Likes: 0
Received 0 Likes
on
0 Posts
Having seen one of these reports on a flat we owned I think they are a waste of money.
The report stated that the washer needed changing in the bathroom tap. The taps were the washerless kind and we had told the surveyor this...
The report made a number of serious mistakes and missed what we felt were obvious problems.
The report stated that the washer needed changing in the bathroom tap. The taps were the washerless kind and we had told the surveyor this...
The report made a number of serious mistakes and missed what we felt were obvious problems.
30 July 2003, 04:55 PM
#14
Scooby Regular
Join Date: Oct 2002
Posts: 358
Likes: 0
Received 0 Likes
on
0 Posts
I had two houses in succession fall through because the full structural survey found they were both sinking - one 1890s one 1960s - the guy felt sorry for me the second time and called me with the news so I didn't have to pay for the written report.
It's shedloads of money and you have to have the best security possible - just like our cars
It's shedloads of money and you have to have the best security possible - just like our cars
13 August 2003, 07:00 PM
#16
Scooby Regular
Join Date: Nov 2000
Posts: 26,619
Likes: 0
Received 0 Likes
on
0 Posts
main difference is that you have no comeback for a homebuyers report, so they only check obvious stuff.
If they miss something on a full structural you can claim against their PI insurance, so you can be sure they will check everything.
As dunk points out above, they will always try to justify the report by finding some hidden flaw, which can be used to knock a few quid off the price. As this happens in about 99.99999% of cases I am sure dunk will be able to keep his pants on for another few months
hew: :holds nose:
If they miss something on a full structural you can claim against their PI insurance, so you can be sure they will check everything.
As dunk points out above, they will always try to justify the report by finding some hidden flaw, which can be used to knock a few quid off the price. As this happens in about 99.99999% of cases I am sure dunk will be able to keep his pants on for another few months
hew: :holds nose:
14 August 2003, 10:51 AM
#18
Scooby Regular
Thread Starter
Join Date: Jun 2000
Posts: 4,413
Likes: 0
Received 0 Likes
on
0 Posts
LOL.
Should get the report on Tuesday. Already spoken to our agent and said that will speak to the other agent on our behalf if we want. So we'll do that. It found a few things that needed attention, so very glad we did it.
Purchase is in late stages now, so not sure what the vendor will say. They've already had offers acepted on the houses they're buying (couple splitting up). Not sure what there reaction will be, but our agent said that they will probably not be supprised that some faults were found, concidering the age of the house.
Now just need to see how much to reduce it by...
Should get the report on Tuesday. Already spoken to our agent and said that will speak to the other agent on our behalf if we want. So we'll do that. It found a few things that needed attention, so very glad we did it.
Purchase is in late stages now, so not sure what the vendor will say. They've already had offers acepted on the houses they're buying (couple splitting up). Not sure what there reaction will be, but our agent said that they will probably not be supprised that some faults were found, concidering the age of the house.
Now just need to see how much to reduce it by...