What’s the point of a property surveyor? Mark Lawson spoke to The Sunday Times about a recent purchase where the Buying Solution arranged a specialist survey. Due to the asbestos findings TBS were able to negotiate £150k off the sale price.
Mark Lawson Buying Agent at The Buying Solution says; “On the whole surveys read badly because they will only highlight the negatives. Surveys need to be read and understood in that context and often require an expert eye. Usually the negatives are not as bad as they sound on paper – sourcing costings to rectify the issues from the word go is helpful and important and can ultimately impact on the purchase price.
A recent survey that was undertaken on behalf of a client looking to buy a large country house flagged up asbestos, we got a specialist asbestos survey done and managed to negotiate £150k off the price. Another flagged that the building had not been built in accordance with the planning permission granted, our client was prepared to proceed with the purchase but it enabled us to organise an insurance policy should there be any recourse in the future.
A good tip for purchasers looking to buy country homes with outbuildings is to ask their surveyors to always produce a schedule detailing the correct amount all buildings at the property should be insured for should they need rebuilding in the event of a disaster. The existing policies of the vendors tend to be under insured so this practice means buyers can start ownership of their new property in the knowledge they are fully covered in the event of a disaster.”
To read the whole article click here; https://www.thetimes.co.uk/past-six-days/2018-06-24/home/whats-the-point-of-a-property-surveyor-7g9jwg5qp