Buyers traditionally arrange and pay for a survey after an offer has been accepted. A good surveyor can spot things that are invisible to the untrained eye and give buyers an honest picture of what to expect in the future. Our investigators work to provide buyers with confidence and clarity about one of the biggest purchases of their lives. In fact, you can do this for vendors as well.
Arnold & Baldwin, the Foxton family's most trusted property research firm, says: 'Buyers who fail to get a survey end up spending an average of £5,650 on repairs, but this data pre-dates Brexit and inflation. “This is an important thing to consider.” If a survey is required, you must include it in your offer letter. You should make your reservation as soon as possible, as conducting a survey can delay your property purchase.
You can learn more about offer letters in our blog, “Making an Offer: How to Negotiate When Buying a Home.”
It is important to remember that mortgage appraisals are done for the lender's benefit, not the buyer's. These evaluations highlight only the most significant deficiencies for lending purposes. The lender may not even be able to send an inspector to inspect the property and an Automated Valuation Model (AVM) or desk valuation may be used. It is very important to request an independent inspection to get a more complete picture of the condition of the property and highlight any maintenance issues that may need to be considered. 
An important thing for buyers to do is to consult with the surveyor, especially if problems arise during the survey. Make sure you understand what it takes to solve the problem. If you like the property for other reasons, this may not prevent you from signing a contract. It may also be useful in negotiations. Once the property is yours, you can request a discount on the price and make repairs, or you can hire a contractor to make repairs before you complete the purchase. Arnold & Baldwin partners with experts to solve problems.
If the buyer requests a survey
When sellers are informed that a buyer has requested a survey, they often worry that the surveyor will find something unexpected. However, there are reasons to be positive. Vendors should keep in mind. This is a big step as buyers are not going to pay for a survey to be carried out unless they are really planning on buying the property.
If you're a vendor in need of a quick sale (say, you're trying to close your next deal), you might be annoyed to see a contingency listed on your offer letter that you should look into. Your agent may be able to discuss your term with the buyer. You may also want to find a researcher who can immediately participate in the study. However, there is one more thing vendors facing deadlines can do. They first conduct a survey on their own land.
Surveys reveal exactly what you're dealing with, so last-minute surprises don't interrupt your strong sales. If you have time, you can fix any problems that your investigation reveals. Otherwise, it's a good idea to factor them into your asking price and explain them to potential buyers at the outset. This attitude of honesty will help move things along quickly and build trust with buyers.
who we propose
Arnold & Baldwin are real estate surveyors who regularly provide expert insight to buyers and vendors. Arnold & Baldwin is regulated by the Royal Institution of Chartered Surveyors (RICS) and we cannot influence their surveys. They give you honest third-party information that you can use to make decisions, avoid costly surprises, and have confidence in your offer and asking price.
