A recent poll has found that the majority of property professionals would opt for mandatory Pre-Sale Surveys if the option was to be adopted, highlighting the positive light in which property survey reports and Chartered Surveyors’ advice are viewed.
71% of respondents stated they would support such legislation as they believed the process would significantly speed up the homebuying process.
A Pre-Sale Survey is intended to be a comprehensive assessment of a property carried out by a qualified Chartered Surveyor before a house goes on the market. It aims to identify any potential issues or concerns that may affect the value of the property or pose risks to the future owner.
One of the most valuable aspects of property surveys is their ability to uncover potential issues that may not have been apparent to buyers. Surveyors have the expertise and knowledge to identify any potential issues with a property, such as structural issues, damp problems, or electrical issues. By identifying these issues, potential buyers would be well-informed from the outset.
By surveying the property before it is marketed, potential buyers would avoid the frustration and delays that can occur after an offer has been accepted. Pre-Sale Surveys would not only save time but also provide buyers with a clear understanding of the property’s condition, reducing the likelihood of costly surprises during the conveyancing process.
From a buyer’s perspective, knowing that a property has undergone a condition inspection by a qualified and experienced Surveyor can be reassuring that they are making an informed investment.
The poll also delved into the reasons that buyers do not always instruct a Condition Survey Report currently. The primary reason was found to be the flawed belief that a Valuation is a Survey Report, with 54% of respondents stating this to be the primary obstacle. Other barriers included (lack of) knowledge (47%), cost (45%) and not being offered a Building Survey Report or a Level 2 Home Survey Report in the first place (22%).
The poll provides an interesting insight and shows some of the benefits of residential property surveys – for sellers as well as buyers.
For more information on the range of survey reports we offer, please get in touch.
