Property Surveys In Fitzrovia, Soho, Covent Garden, Bloomsbury, Marylebone
A typical pre-purchase survey includes a property's electrical, plumbing
and heating systems as well as its interior and exterior construction from
roof to foundation. But it does not include the soil around the house, ponds,
septic systems, building code violations or environmental hazards, which
can require a specialized surveyor and can cost more.
Make certain that the survey contingency in your purchase contract gives
you ample time to conduct a general survey and perform any specialized surveys
that may be required. Remember, repairs or remedies are negotiable and can
reduce the final price you pay for the house.
To find a qualified surveyor, check with the National professional body of surveyors RICS - Royal Institute of Chartered Surveyors
- Ask friends or co-workers who have recently bought a home in West Hampstead
if they would recommend their surveyor.
- Ask your estate agent to recommend an surveyor or chartered surveyors
company.
- You should interview the chartered surveyor or surveying firm you've
selected about their qualifications, experience and errors-and-omissions
insurance.
- Building surveyors, who offer to also do the repair work for you, should be avoided because that may influence their analysis.
Property Survey Types - Get the Right Survey
The most common property surveys include:
- Standard Pre-Purchase Survey: This covers a home's interior and exterior
construction and condition and includes electrical, plumbing and heating
systems. It can cost from £200 to £500 and is usually paid
for by the buyer.
- Wood Damage Survey: Is required by many lenders and includes all interior
and exterior wood structures of the home. It costs from £75 to £200
and payment is negotiable between the buyer and seller.
- Lead Survey: All homes built before 1978 must disclose the presence
of any lead. The survey looks for the presence of lead in paint, plumbing
or other areas. It costs about £400. Old water pipes may need updating.
- Radon Survey: If the seller is aware of elevated radon levels in the
house, they are required to tell the buyer. The inspection looks for the
presence of this naturally occurring radioactive gas above certain levels.
It costs approximately £150 and is negotiable between the buyer
and seller.
- Environmental Hazards Survey: The surveyor looks for the presence of
any substance (such as: asbestos, formaldehyde, petroleum, toxic chemicals)
in building materials, soil, water or air that is a health risk. The price
varies with the exact type of inspection and is negotiable between the
buyer and seller.
- Soil Survey: The inspector examines the condition of soil under and around foundation and retaining walls of the house looking for problems like excessive moisture. It costs anywhere from £300 to £2,000 and is negotiable between the buyer and seller. The inspector examines the condition of soil under and around foundation and retaining walls of the house looking for problems like excessive moisture or evidence of shrinkage that may cause subsidence.
Defect Disclosures
The better you understand defects the better prepared you are to negotiate
with the seller on which repairs are needed and which are be reflected in
a discount from your offer. Surveyors focus on two kinds of defects:
- Patent defects, or those that you can see, which may include water stains,
ceiling cracks, sticky windows or sagging floors, and
- Latent defects, or those that are not readily visible, which could include faulty plumbing, asbestos ceilings or dry rot.
Defects of either type could be trivial or serious. Only an inspection
can help you decide which defects require immediate action and which can
be postponed.
Remember the risk is always with the buyer
When a seller or estate agent reveals to you a material fact about the physical
condition of a property, that is called a disclosure. A material fact is
any information that can affect the price of the home or your decision to
buy it at all.
This could include information about periodic flooding in the basement or a proposed commercial structure on nearby property. The Property Information Form which the seller should be obliged to complete contains a mandatory section covering aspects of disclosure including problems with neighbours and other issues. Be sure to check the information thoroughly whether making disclosures or receiving them.
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