What is a property survey? Why do you need one? And what are the costs? Find out all you need to know about surveys from this property terminology glossary post.
A property survey is a detailed, professional report of your property’s condition. A surveyor will inspect the property and the land it sits on, reporting on its structural soundness and general state, as well as research the property’s deeds and legal history.
Although a property survey is not obligatory, most mortgage providers will require a property survey to be carried out of your property before agreeing to the mortgage.
A property survey can also help you decide whether you want to buy a new property, as it can give you insight into how much work a house may need after you have bought it. This can strengthen your position when you come to negotiate the purchase price of a property.
You can obtain a survey of your property from a property surveyor. You will need to find a qualified surveyor who is accredited by a recognised governing body such as the RPSA (Residential Property Surveyors Association) or the RICS (Royal Institute of Chartered Surveyors).
While accredited by these governing bodies, surveyors can work for themselves, or as part of a larger company. One of the best ways to find a reliable surveyor is to ask friends, family or business associates for a recommendation. Alternatively, there are many reputable property surveyors online, just make sure to do your research properly and pay attention to user ratings.
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