3 Most Common Survey Issues
Snags on surveys can have a big impact on the sales process, sometimes even stifling sales or reducing offers. Find out what are the most common issues that surveyors pick up on.
What is a survey?
If you're not already familiar with the purchasing process in very basic terms a survey is a an inspection of a property's condition, which flags any potential problems to a prospective buyer. They are carried out by a surveyor who visits the house, carries out an inspection and then drafts a report on what they've found. This report is then passed onto the buyer's solicitors and where required, mortgage lender.
Types of Survey
There are different types and levels of survey that as a buyer you can opt for...
Most Common Snags
Based on digital home surveys carried out by Legal and General last year the 3 most common 'red' issues were...
Electrical, Space Heating and Water Heating.
Examples of these types of issues would be dated wiring, faulty fuse boards, leaking pipes, asbestos issues, damaged boilers or unlagged water cylinders. Vendors could head some these issues off at the pass by having an electrician carry out an EICR (electrical condition installation report) or having the boiler serviced and heating system checked by an engineer.
If you're looking for a quick 'no hitch' type of sale it might be an idea to arrange for these trades to check common issues before marketing your property. While it does mean incurring some initial additional costs, by providing your potential buyers with as much information as possible from the get-go, you might just save your sale or negate the risk of having offers reduced in the long-term.