Especially for those who are new to the property ladder, the process of buying a house can quickly become overwhelming. After all, there’s so much you need to consider, from applying for a mortgage, to viewings, insurance, and more. Perhaps one of the most important steps when buying a property, however, is the survey phase. Despite being optional, they are incredibly important to identify any issues that may end up costing you down the line. There are three levels of optional surveys you can pay for, with the most basic being a condition survey. But exactly what is a condition survey and what do they consist of?
What is a Condition Survey?
A condition survey is a comprehensive visual inspection of the physical condition of a property. It looks to identify any urgent health and safety risks, defects, signs of deterioration, and potential future maintenance needs. The findings outline the identified issues within a condition report, documenting their severity and maintenance recommendations. This information enables buyers to make informed decisions about the property, including budgeting for repairs, negotiating buying prices, and more. More information on condition surveys can be found by clicking here!
When Should You Take Out a Condition Survey?
So, you’ve asked yourself, “what is a condition survey?” We’d hazard a guess that your next question will be along the lines of “when should I ask for one?” In a few words, as soon as possible! It’s strongly recommended to conduct a home survey before you finalise the purchase of a property. After all, you don’t want to pay full price only to be met with thousands of pounds worth of issues!
What Type of Properties are Condition Surveys Most Suitable For?
As they are only a surface-level inspection, condition surveys are predominantly recommended for newer builds in a reasonable condition. Whilst condition surveys will inspect the plumbing or electrics, for example, they won’t do a deep dive to asses every element of safety. They also don’t include specialist tests but may recommend further investigation within the documented condition report.
What Happens After You Complete a Condition Survey?
Typically, one of two things will occur. On one hand, the condition report may identify minimal risks or no damage. If you feel that no further action need be taken, you can proceed with the purchase. Should any serious damage or long-term issues be spotted, however, you may decide further investigation is required. This could involve conducting a more detailed house survey or employing the help of a specialist. Depending on the nature of the identified issues, you can either renegotiate, or pull out of the sale. Now it certainly seems worthwhile that you asked, “what is a condition survey?” Who knows, it may have saved you a fortune in the future!
At Munday and Cramer, you’d be surprised how often someone asks, “what is a condition survey?” Every time, we’ll always emphasise just how important of an investment they are. To find out more about our surveying services, get in touch! Call us today on 01245 326 200, or email email@example.com to reach the team.