Can You Get A Property Survey Done Before Making An Offer?

Several people underestimate the value of surveying before buying a  land or property, which can highlight possible problems that might have been avoided. While a survey is not a legal necessity, it does provide valuable advice and information about the property.

Before buying your home you should get a survey done for many valid reasons. You should appoint a home buying service for a detailed survey of your dream property.

Many mortgage companies will require a survey of the property and any land subdivision, or to ensure that the property is worth the sum of funds they are investing in the loan. In this article, we are going to discuss the importance of getting a property survey done when making an offer.

What is a Property Survey?

A survey is a report on a property’s condition that you can arrange after you have approved your offer on a property that you want to purchase. They are conducted by licensed professionals and can be used to assess an estimation of the value of the property, including the need for maintenance, any major damage, and the cost of restoration.

It is not ideal to depend on an outdated land survey given by the current property owner as it does not reflect changes and may be unreliable. When considering purchasing property, house and land packages (like these ones) can provide a comprehensive solution.

Moreover, surveyors differ in experience, ability, and expertise. According to experts from Ray Carlson & Associates, competency is of utmost importance in choosing a trustworthy surveyor whose expertise and judgment you will trust. Your decision will be made when you are confident experts such a Tauranga Land Surveyors have all the details and are completely aware of your needs and the governing body’s requirements.

Before making an offer, can you obtain a property survey?

Most people would make an offer and get the offer accepted before spending money on a boundary survey. This is also what most sellers expect, but it is all right to ask the vendor if they do not mind you getting a property survey done before you make an offer. However, bear in mind that you might potentially lose the money you spent on the survey because your offer has not yet been accepted, and there might be other potential buyers who may outbid you. This is why most people have a property survey done once the offer is approved, any future problems can be renegotiated with the seller. 

What are the Different Kinds of Surveys?

Condition Report 

It is the most basic type of survey that will show any significant or urgent hazards or defects that need to be repaired within the house. It does not go into as much depth as other surveys but is typically recommended for newer or in good condition properties. This is performed at a level that discusses each feature of the building, explains it, and provides descriptions of its current state.

Report for Homebuyer

This has a thorough study outlining concerns that may affect the value of the property and its maintenance expenses. It is essential to know that the report will only include what the surveyor initially observes, and they do not dig into walls or raise floors to examine concealed parts of the house. If the report mentions some fixes, and the surveyor gives them an approximate price, you may be able to use this to lower the property’s value. There is also an option to get a valuation report which calculates the value of the property on the open market.

Building Report 

It is the most comprehensive survey of a residential property that you can get. The surveyor inspects and reviews the entire structure and condition of the house, lists the damages, and recommends any repairs and maintenance that should be performed. All accessible areas of the property must be checked by the surveyor, including any roofs, attics, basements, and even walls and under floors. 

It is appropriate for older, listed properties, or an extensively restored property that you plan to build. By having a detailed knowledge of the property’s condition, you would be able to acknowledge the amount of work needed to preserve or improve the property, as well as the possible costs associated.

Many land surveyors would study the property before even looking at the land. They would examine the background of the deed, which could involve a search for the title. This requirement for the title ensures there are no inconsistencies about who owns the property. Most property evaluations begin with research into the legal history of the land and its background they will be inspecting. Eventually, the surveyor would go visit the property and map out the land, its borders, and different elements that make up the property, which is called the fieldwork. For all the information discussed in this article, buyers are often advised to always get a survey performed when buying properties.