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Why is a Property Survey so Important?

Why is a Property Survey so Important?

Although an exciting time for many of us, the process of buying or selling a home can be stressful and extremely complicated. One such complication is the need for a property survey.

Although it is not a legal requirement to carry out a property survey, the benefits involved are huge. According to the Royal Institution of Chartered Surveyors (RICS), more than one in five homebuyers who have not had their property independently surveyed say they would not have made an offer had they been aware of the property’s true condition.

So, whether you’re looking to ensure your property is up to scratch or are looking for peace of mind before signing on the dotted line, a survey is essential to the real estate process.

Home reports

Here in Scotland, it is a legal requirement for sellers to create a Home Report made up of three documents that provide more information about your property for potential buyers. Two of these documents require a Single Survey and the production of an Energy Performance Certificate (EPC).

As this is essential to selling your property, it is important to enlist the help of a quality property surveyor to ensure you’re staying on the right side of the law.

Aware of repairs

When investing in a property, you’ll want to feel as though your getting the most out of your money. However, if you don’t have a complete picture of what could be your dream home, you may end up with more problems than you bargained for.

Those who simply rely on the mortgage valuation are putting themselves at risk of having to fork out thousands of pounds in repairs that they may not have been aware of. Therefore, a property survey can help you to make a decision with all of the information to hand.

Negotiating power

Everyone wants a property transfer to go well and if someone is selling, the onus for a quality survey falls on the buyer. With this in mind, by discovering any faults with your property through a quality survey, you can gain significant bargaining power.

You may look to drop the price of the property in order to cover the cost of repairs or ensure that the seller carries out any repairs before the deal goes ahead.

Invest with confidence at Shepherd Chartered Surveyors

As you can see, a quality property survey can save you from a huge amount of stress and money. However, it’s also important to only enlist the help of the best. Here at Shepherd Chartered Surveyors, we have been offering our clients industry-leading surveying services since 1880.

For more information, visit our website.