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What you need to know about property survey

One of the researching jobs that is requested of solicitors by buyers is property surveys. Solicitors conduct property survey to determine the structural and physical qualities of the properties before the buyers purchase the property. Results of search surveys enable the buyers to know their position with regards to the conveyance of that property. Buyers can proceed with conveyance if they find the property fit to buy. The property may be in relatively good conditions, but still in need of minor repairs. In this case, the buyers may negotiate for a decrease in the price of the property to accommodate for expected costs of renovation. If the buyers find the property totally uninhabitable, they will request for a termination of conveyance.

Solicitors never actually undertake the actual property survey. This job is better left to building and construction specialists, also known as property surveyors. What solicitors do is organise for property surveyors to review the building or structure in question. The buyer must be aware of this arrangement because he is paying for it. The cost of property survey is different from the solicitor’s fee and are accounted as disbursements. The cost varies from one surveyor to the other and is to a large extent dependent of the size and type of the property being surveyed. Larger buildings and older buildings attract more surveyor fees.

The seller must be present during property survey. He is the one that authorises the survey. Property survey cannot be carried out without the seller giving his approval. The seller can sometimes prevent the surveyor from accessing some parts of the property. This usually happens when the seller fears that some parts of his properties are so damaged that they will reduce the total cost of the property. A survey is expected to report his findings to the prospective buyer. If the seller prohibits him from reviewing some parts of the property, then he must notify this to the buyer. The buyer will then find out from the seller the reasons why his surveyor could not access those parts of the property.

The surveyor cannot report on everything about a building. Structural issues such as the inability of a pillar to support a building are better reviewed by a civil engineer. The seller cannot advise on extension plans on the building or other structural changes since this is the work of architectures. However, they can measure the shapes of various rooms or parts of the property and report these findings to the buyer. The buyer can then decide if he needs extensions, reductions, or if these rooms are large enough for his needs. The surveyor can also not report on the intricacies of electric and electricity systems that are used in the building. This job is for electrical experts. They can, however, mention whether lights and other electrical devices in the property work as expected. They can find this out by simply turning on and off the various electrical appliances. Experts like civil engineers and electrical engineers are rarely engaged during property survey for conveyance.

There are different kinds of property surveys that the solicitor might suggest. These property survey allow you to analyse the intricacies of the building, which may not be visible easily. A proper property surveyors will make a report that you can analyse to check if your investment is going to be worth what the seller is offering it for.

Posted by on 20/12/2016 in Property survey

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