If you are selling a house, you are probably planning to instruct a building survey on the property you are moving to, to make sure you are aware of any serious or dangerous defects that you would become liable for, and to highlight any costly repairs and maintenance that you will be taking on.
…But should you also get a survey on the property you are selling?
The short answer is ‘yes’, especially if you are looking to speed up the sales process, or your property has unique features that you would want to reassure buyers about, such as thatch, previous alterations or successful subsidence works.
A Vendor Survey is very similar to an RICS Level 3 Survey. It is a comprehensive, thorough visual inspection of all areas of your property, providing a report of the condition and structural integrity of your home at that moment in time. The surveyor will look for evident defects and potential problems, and will discuss projected costs for repairing any defects and for any particular recommended maintenance measures.
Vendors can use this information to plan repair works ahead of selling, to make their property more desirable. Alternatively, the findings in the report can help you anticipate areas a buyer might negotiate on, and prepare accordingly. The report will also contain detailed descriptions of the construction and arrangement of the property, which can be extremely useful when laying out the property particulars with estate agents. Your surveyor can also comment on the feasibility of works such as loft conversions or extensions, which could provide additional selling points.
Importantly, because vendor surveys are independent and unbiased, they can often be passed to the purchaser of the property on request, speeding up the buying process significantly by avoiding the need for the buyer to conduct their own survey.
Of course, a buyer may still choose to conduct their own survey to get an up-to-date assessment of the property; this might differ slightly to your report, given that time will have passed and, of course, surveyors’ professional opinions can differ. However, factual data around serious defects should be consistent across surveyors, and your report should give you the confidence of being able to anticipate any deal-breakers that your buyer could encounter.
Find out more about vendor surveys, or contact our team by phone or email to discuss your requirements.