The house buying process is considered as one of the most stressful events in our lifetime – and for good reason. Dealing with solicitors and estate agents, and organising movers and surveys isn’t always smooth sailing. So it’s important to know what you need to do – and when.
While house surveys are not a legal requirement, they are advised; they give you additional information and advice when buying a house, which you wouldn’t get otherwise. As such, they can save you both time and money by highlighting areas that need further investigation or repair, helping you to avoid any nasty surprises once your property purchase is complete.
Who organises a survey when buying a house?
It is usually the buyer who organises the survey when buying a house, once their offer has been accepted.
Your estate agent, mortgage lender or solicitor may recommend a chartered surveyor to you. They usually have deals with these surveyors so receive a commission. You are also free to find your own independent surveyor, but you should always use a qualified professional who is a registered surveyor that belongs to the Royal Institute of Chartered Surveyors (RICS) or Residential Property Surveyors Association (RPSA).
It’s also a good idea to choose a local surveyor as they will be more familiar with the area, while checking reviews and recommendations or asking friends and family for recommendations can also help you to choose a surveyor you can trust.
Does a solicitor arrange a survey?
No, a solicitor has nothing to do with house surveys. A solicitor is there to help you through the process of buying (and selling, if applicable) a property. The solicitor, also known as a conveyancer, specialises in the legal aspect of transferring property from one person to another.
Who pays for the survey when buying a house?
Whoever organises the building survey will usually be the one to pay for it. Mortgage lenders (if you are applying for one) will also request a mortgage valuation. This is separate from a property survey and does not provide an in-depth report of the building.
When should you instruct a surveyor when buying a house?
It is advised to start researching chartered surveyors as soon as you have had an offer accepted and the property has been marked as sold by the estate agent. While surveyors are flexible, it can be a number of weeks until they are able to conduct the survey itself. Getting a chartered surveyor booked early means it’s one less thing to worry about and ensures you are not holding up the chain.
Why do I need a property survey?
Although a house survey is not a legal requirement, it is generally recommended to assess the property’s condition. A home survey report gives you peace of mind that the property you are buying is worth the money you are paying. House surveys can also help you renegotiate the property price if issues appear on the report which will cost you money – or result in you walking away should big issues appear.
RICS, the industry’s governing body, implemented three different types of surveys in 2021. These are now known as Levels – from 1 to 3. Level 1 is the most basic survey and gives you a general overview and condition report, while Level 3 is the most comprehensive and gives you a more in depth survey.
It is completely up to each individual buyer which home report they choose, and the HomeOwners Alliance has the following guidance:
- RICS level 1 home survey (previously known as a condition report) is recommended for standard properties and new homes
- RICS level 2 home survey (previously known as a homebuyer report) is recommended for standard properties in a reasonable condition
- RICS level 3 home survey (previously known as a building survey) is recommended for properties over 50 years old, as well as larger, unusual properties, and those in poor condition
However, they do recommend using your own judgement on what you think is needed for your own home report. For instance, a level 3 survey may be more money, but they can offer more peace of mind – especially when it comes to older properties.
What is included in a property survey?
A property survey identifies potential issues which may cause issues for you down the line. It will highlight any risks – such as structural problems – and urgent defects – including damp. These can affect the property’s value and cost you a lot of money to fix in the future. While some issues may be known when you buy a property, if these issues are a surprise, you can use information in the survey to renegotiate the price or walk away from the purchase if you decide it’s not the house for you.
Depending on the level of the property survey you opt for, you will get a different level of cover. You can find more information from the HomeOwners Alliance website.
How much does a house survey cost?
Surveys vary in price, depending on a number of factors, including:
- the level of survey conducted
- the property’s value
- the property’s location
However, typically, you can expect to pay between £300 and £1,500, depending on the factors above.
What happens after a building survey?
Once you receive the survey findings, set aside time to go through it in detail. Usually, the surveyor will highlight any large areas of concern to you, such as structural issues, but it’s always a good idea to go through the report in detail yourself.
If the report finds issues that look to be costly or will need attention sooner rather than later, you can use the report to try and renegotiate the purchase price with the seller.
If significant issues have been found it’s advised you contact a structural engineer for expert advice and to look at the property before you go any further.
You can always walk away from the purchase if the issues found are too big.
How long does a house survey take?
How long it takes to carry out a house survey will depend on the size of the property and the type of property survey you choose.
However, as a general rule of thumb:
- A RICS Level 1 survey can take just an hour to complete
- A RICS Level 2 survey could take around half a day (up to 4 hours)
- A RICS Level 3 survey, which is a full structural survey, can take a full day to complete.
Find out more information in our article on How Long Does a Home Survey Take?
Are mortgage valuation surveys the same as house surveys?
No, they are different and are designed for different audiences. A mortgage valuation survey is carried out by your mortgage lender (if you have one) to make sure the property is worth the amount you are paying for it. It is a basic check and looks at average property values in the area, comparing style, size and condition.
A mortgage valuation is done to protect the mortgage lender’s investment and ensure that their loan amount could be recouped by selling the property if necessary. A house survey is a more detailed inspection and is designed to protect you, as a buyer.
