As a cash buyer, you may be wondering whether you need a house survey before you buy a property. After all, you won't need a mortgage valuation survey, which is required by lenders to assess the value of the property and ensure that it is worth the amount being borrowed.
However, even if you are not required to have a survey, it is still a good idea to get one as it gives you a professional opinion on the condition of the property and the suitability to purchase and can help your solicitor spot any potential legal issues surrounding planning or boundaries.
What is a house survey?
A house survey is a detailed inspection of a property carried out by a qualified surveyor. It can help to identify any defects or issues with the property, such as structural problems, dampness, or subsidence. There are several types of surveys available, including a condition report, homebuyer report, and building survey. The type of survey you need will depend on the age, condition, and construction of the property.
Why should cash buyers get a survey?
While it is not a legal requirement to get a survey if you are a cash buyer, it is still recommended. A survey can help you to make an informed decision about the property and identify any potential problems that may need to be addressed. Without a survey, you may be unaware of issues that could be costly to repair or impact the value of the property.
A survey can also provide you with peace of mind, knowing that you are buying a property that is in good condition. It can also give you leverage in negotiations with the seller, as you can use any issues identified in the survey to negotiate a lower price or request that the issues be resolved before the sale goes ahead.
In many cases, your surveyor will spot an alteration to the property which requires planning permission, retention permission, or a certificate of exemption. They can also spot potential issues with the boundary such as encroachment or a service like a septic tank that is not confined within the boundary. Your solicitor will need to then investigate these to ensure you are legally covered.
How to choose a surveyor
If you decide to get a survey, it is important to choose a qualified and experienced surveyor. Look for a surveyor who is a member of a professional body, such as the Royal Institution of Chartered Surveyors (RICS), which sets high standards for its members. You should also check that the surveyor has professional indemnity insurance, which provides protection if they make a mistake or miss something during the survey.
So, while it is not a legal requirement to get a house survey if you are a cash buyer, it is still a good idea to do so. A survey can help you to identify any issues with the property and make an informed decision about the purchase. It can also give you leverage in negotiations if there are any major issues.
When choosing a surveyor, be sure to choose a qualified and experienced professional who is a member of a professional body and has professional indemnity insurance.
At GetHouseSurvey.ie all of our surveyors are experienced, registered, and covered under PI Insurance up to the value of €1m.
To book your survey, just go to GetHouseSurvey.ie and click on "Get Survey Now".