29 Oct

Homeowners advised to have survey on houses for sale in UK

Homeowners advised to have survey on houses for sale in UK

Potential homeowners have been advised to have a building survey conducted on houses for sale in the UK that they intend to purchase.

This is after the Royal Institution of Chartered Surveyors (Rics) revealed that one quarter of homebuyers who have a mortgage valuation report done but not a building survey have to get repair work on their property.

A recent study found that 58 per cent of people thought the mortgage valuation report would include the condition of the building - a mistake that would later cost an average of £1,818 in building repair work.

Residential director at Rics David Dalby said that while no property is perfect, people "really ought to know what they are buying" when purchasing houses for sale in the UK.

"It can save them a lot of money if something comes to light subsequent to moving," he stated.

More people could be looking to having building surveys done on properties after the Land Registry revealed that average house prices dropped by 0.2 per cent in September 2010, which could encourage potential buyers to make a purchase. ADNFCR-1222-ID-800202372-ADNFCR

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