Where defects are discovered, it is often possible to renegotiate the purchase price to reflect the works required. It will also confirm whether a property is in reasonable condition. Comment is limited to those areas that are accessible at inspection. To save time and money you could ask the surveyor who carries out the mortgage valuation report to also undertake a Homebuyers report. This is more comprehensive than a Homebuyers report and provides extensive information on construction and materials used as well as both major and minor defects.
Costs are dependent upon the size and nature of the property.
In certain instances, where significant defects are identified, the surveyor may recommend further investigation by an engineer or other technician. Once the likely cost of repairs can be ascertained, there may be grounds to go back to the estate agent and renegotiate the purchase price. Building surveys do not automatically include valuations. This often leads to difficulties between buyer and seller given the prospect of price renegotiation is always an emotive one. If the property was not priced to take account of the defects, a rational approach is by far the best way forward.