Wallace & Co. Solicitors and Notaries.

Q5: Do I need a survey?  

A5: We deal with the legal aspects of moving house. A surveyor deals with the condition of the property and its state of repair. If you have any doubts about the condition of the property you should have your own structural survey. This can be done at the same time as the building society valuation. There are two types of survey; the home buyer's report and the full structural survey.

The home buyer's report is not quite as detailed as a full structural survey but it is still quite full and usually adequate to reveal the most defects.

The full structural survey should provide you with a report of all areas of the property (except those which are not accessible because of fitted carpets etc.).

Remember that all properties suffer from some defect or other and it is very rare to find a property that does not need some money spent on it. If work needs to be done you can get an estimate and know what you are letting yourself in for.

N.B. The building society valuation is not a survey. Although it may refer to the physical condition of the property, the valuation is mainly to confirm to your lender that the property is worth enough to repay the loan if the property had to be sold. It is not intended to be a full report on the condition of the property. Most surveyors value the property in its present condition. If the valuation is the same as, or more than, the price you are paying then there is little scope to reduce the price.

Wallace & Co., Solicitors and Notaries. 11a Station Parade, Balham High Road, London, SW12 9AZ (entrance in Ravenstone Street).
Tel: 020 8675 6755. Fax: 020 8675 2001.
email:    Is available     

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