Buying a House? - HAVE A SURVEY!
It is most
important for you to know that when buying a property either new or old it is
sold "as seen". If you buy a house and find that there are problems
with it, for instance damp or a defective roof, then, except in very limited
circumstances where the seller has made representations or comments, you have
no claim against the seller whatsoever. It is therefore vital to have the
property surveyed prior to committing yourself to buying it. If you are having
a mortgage, your mortgage lender will have a valuation carried out. However,
this valuation is usually of a very limited nature and is purely to enable the
Lender to assess the value of the house and, crucially from the lender's point
of view, whether if sold, it would realise at least the amount of the mortgage
loan. It is a valuation not a survey and if problems come to light after you
have purchased you would have difficulty in bringing any claim against a
mortgage lender's surveyor. Quite often
the Mortgage Lender will give you the option of having a fuller survey carried
out at the same time as the mortgage valuation and that is generally the most
cost effective option. However, if you wish us to advise or recommend a
surveyor to carry out a survey on your behalf we would be pleased to do so. Contact Tom O'Neill or David Bennetts in Lancaster (01524 386500) ton@bsglaw.co.uk drb@bsglaw.co.uk or George Mercer in Preston 01772 253841 gam@bsglaw.co.uk
Remaining
with the physical condition of the property
- it is also the responsibility
of the buyer of the property to check and ensure that all of the services are
working properly. This is especially important in relation to central heating.
Unfortunately, if you move into your new house and find that the central
heating boiler does not work then, once again, you will have no claim against
the seller of the house and almost certainly no claim against the mortgage
lender’s surveyor. It is therefore most important that before you commit
yourself to buying a property you carry out any checks and inspections that you
require.
