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Coveyancing Buyers Guide

We have created a buyer’s guide to property conveyancing in regards to the condition of the property. There is a lot to consider when it comes to the condition of the property in conveyancing. We hope this easy to follow guide will help you;

Get It Checked

When you are buying a property it is important to remember that it is your responsibility to ensure you’re satisfied with the condition of the property and the equipment included in the sale of the property. As the buyer, you need to ensure that the appropriate inspections, reports and surveys are all carried out on the property and the equipment included in the property sale before the exchange of contracts.

You will find that when you take out a mortgage you will pay a valuation fee to your Lenders. This is to enable their surveyor to check the condition of the property and the value of the property. However, this is for the purposes of the mortgage. We would highly recommend that you have your own surveys completed before contracts are exchanged.

How Old Is The Property?

If the house you are buying is 10 years old, or under then it will be covered by a guarantee from the National House Building Council, also known as ‘the NHBC’. Alternatively, this guarantee could be under Zurich Insurance or an Architect’s Certificate. If you are buying a house that is 10 years or under you need to ensure that you have these guarantee documents. This means any claims in respect to structural damage can be made to these guarantee holders, for the period of the insurance. We recommend readers to view our New Build Conveyancing Services for more information on this.

What You See Is What You Buy

Property is sold as it stands; you are buying the property in the condition you see it in. If you find anything to be wrong with the property after the purchase has gone through you will not be able to make a claim against the seller, except in extremely rare cases.

This is why surveys are so highly recommended. While a ‘full structural survey’ is the most expensive survey, it is also the one that covers the most and is highly recommended. Many house buyers will rely on the ‘House Buyer’s Report’ which is less costly, but will not cover as much.

Get Specialist Reports

We would always recommend that you get your central heating tested by an expert. You should never assume that it is working, as it may not be in safe working order. If you are purchasing an older property we would recommend that you also call in the specialists for timber and damp reports. A roofing contractor’s report may be worth considering too, especially if you are purchasing a much older property.

Again, these checks must be completed before you exchange contracts.

Repairs From Surveys

If there are repairs required from the survey then the lender will insist that these repairs are completed as a condition of the mortgage. You will need to obtain estimates of the work required so you are aware of the cost required. In some cases, on larger repairs, you can negotiate an allowance from the price of repairs. This negotiation needs to go through the seller or their estate agent. Ensure that you tell your property conveyancing lawyers as this will need to be amended on the contract.

If you need help with property conveyancing then please contact us directly. We would be happy to help you every step of the way, through buying your next property.

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