I’ve Had my Survey Report Back – What Next?
If you’ve had a RICS Home Survey Report or Building Survey undertaken on a property you’re looking to purchase, you’ve taken the first positive step towards protecting your interests. But having received your report back, you need to consider what steps you will take next.
Here, our Chartered Surveyors give some advice.
Understand your report
Although survey reports are designed to be straightforward and easy to digest, understanding what the consequences of a report’s contents may mean in practical terms might not be obvious. If any defects have been identified, you will firstly need to know what the terminology means, and then how extensive the issue is and whether it currently effects any other parts of the house. If you don’t understand any aspect of your Survey Report, it is important to obtain clarity. To this end, you should contact the firm of Surveyors that completed the report, and ideally speak to the Surveyor that conducted the inspection.
Obtain further information
Whilst a RICS Home Survey Report or Building Survey by a Chartered Surveyor goes a long way to clarify the general condition of the property, it isn’t always possible to provide all the information you might want in order to decide what to do next. For example, for any works that are required, it will be impossible for a Surveyor to provide an accurate cost – as only the contractor undertaking the work would be able to give you this. Certain types of defect may also benefit from a specialist report – which would provide a more detailed breakdown of the extent of the issue and a cost to rectify it.
Decide whether to take action
If your report contains a long list of defects that you hadn’t anticipated, or any one defect is particularly severe, you may decide that it is best not to proceed with the purchase. Alternatively, if you feel the works required are manageable, and not too costly, you may choose just to proceed as it stands. The third option is to use the contents of your survey, and any other specialist reports, to renegotiate with the vendor. You will need to decide how much you are willing to contribute towards repairs, if at all, and set out your proposal for consideration. Not all vendors will be open to negotiation, so you may need to think about how much you really want the house – and at what cost.
In an ideal world, your Surveyor will be able to help you decide how to move forward having delivered their report. Matthew Parkinson Surveyors will always make ourselves available for clients to discuss our findings, giving further information and providing our honest, independent opinion on potential next steps.
To obtain a quote for a RICS Home Survey Report or Building Survey Report, please contact us.BACK TO NEWS