What’s the point of a property surveyor?
By James Greenwood of Stacks Property Finders
The latest Which? Mortgage Advisers survey of movers shows that, of the buyers who commissioned a survey, 42% found a problem with the property. While this sounds extreme, the issues raised are increasingly helping buyers to renegotiate prices.
“The surveyor acting for one of my buyers found dry rot in a part of the cellar, and the cost of treating and making good — approximately £32,000 — was paid for by the vendor,” says James Greenwood, a director at the buying agency Stacks Property Search. “If a survey reveals problems that weren’t evident, the buyer should seek a price reduction or ask to have the problem fixed prior to purchase.”