Surveys when buying and selling a property I The Property Fox Leicester
Posted on 7th February 2022
Moving house is a big step and it can be daunting to know what you need before you start.
This blog post will give you some insight into the surveys that are needed for buying or selling a property.
It'll also mention some of the other documents that may come in handy during your move as well as some other things to consider.
Please take into consideration that you will not need every survey or certificate, so speak to your estate agents on which ones you need for your own situation.
- Home Report - This survey provides you with information about your home, including any major defects which have been identified by the inspector. It is designed to help you make an informed decision on whether or not to proceed with your move.
- Extensive Survey - This is more in depth and covers off any issues that were not identified by the Home Report (if you needed one). It will also provide you with a valuation of the property.
- Building Survey - Similar to an Extensive, but this is more suited for commercial properties and can include detailed structural surveys as well as other inspections.
- Condition Report - If you're buying a property and want to know what works and what doesn't, this is the survey for you. It provides details of all major defects as well as an estimated costs of repairs required to bring it up to scratch.
There are also some other surveys that could be needed depending on your circumstances:
- Leasehold Enfranchisement Questionnaire - If you're buying a lease on your property, this survey is required to see if it's possible for the freeholder to sell their rights over the property.
- Home Buyer Report - This provides more information than a Home report and can be used by first time buyers.
- RICS Condition Report - Again similar to the one mentioned above, but can be requested by solicitors or estate agents if they have a buyer lined up and want more detailed information about the property being viewed.
Other documents you might find helpful:
- EPC - This is a document which provides you with an indication of the energy efficiency rating of your property. It's used to help determine how much it will cost for heating, hot water and lighting during occupation.
- Gas Safety Certificate - Every landlord needs to provide this within 28 days if they have a gas appliance on their property as well as provide a copy to their tenants.
- Energy Performance Certificate - This provides an energy rating for properties and is mainly used when renting out property, but can also be requested by buyers so they have more information about the running costs of the house.
- Contract of Sale - This document details what you are purchasing and who from. You will need to provide a deposit with this contract, usually about ten percent of the purchase price.
You should make sure that your conveyancer or solicitor has access to each document before you begin any work on either buying or selling a property in the UK. It is also important to note that you will need to pay for each survey and document, so make sure you budget accordingly!
Some other things to consider:
- You may be required to provide proof of funds for your purchase, such as a bank statement or letter from your solicitor which confirms you have the deposit funds.
- Make sure you get proof of identification (such as a photocopy of your passport). You may need to show this when arranging the Home Report or Survey for your property.
- You will also require proof that you are registered on the council's housing list, if applicable. This is called an 'allocation letter'.
- Your solicitor will need to provide proof of their authorisation.
Surveys are extremely important when selling your property in the UK. If you're not sure what surveys or certificates you need, then please contact us below and we'll be more than happy to help! We can offer advice about any of these documents depending on which type of survey is required for your specific situation.
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