If you need a mortgage to fully finance your purchase, your mortgage lender will ask a surveyor to ascertain that the price offered is realistic given the loan amount.
You are usually offered the opportunity to upgrade the valuation to a “Homebuyer’s Report” (or we can recommend a good local surveyor). This report gives a fuller picture of the condition of the property. Many buyers find the report’s findings a bit shocking, as it often highlights every last defect and potential problem with the property.
However it’s important to remember the surveyor’s job is to report on a property’s condition as accurately and fully as possible and even to point out the worst-case scenario.
In our experience, hardly any properties come to the market without any defects at all – particularly older properties. It then comes down to common sense to determine which areas as genuinely a cause for concern, and which are conditions with which you can live. It is often a good idea to schedule a call with the surveyor to discuss his/her findings in more detail.