As many as three quarters of homebuyers are buying property without properly checking the condition of the building, new research suggests.

According to Allied Surveyors, as only 28 per cent of home buyers commission a home buyer report or building survey, and the remainder relying instead on a mortgage valuation, a number of serious defects could be missed.

Chris Rispin, technical director of Allied Surveyors, said: "Serious structural issues can prove incredibly expensive for a property owner and, if undetected for long periods of time, can cause many thousands of pounds worth of damage.

"While the relevance of any serious flaws would get picked up by a surveyor conducting a full structural survey on a property, they can often get missed or go unnoticed by the buyer."

He cautioned that buyers who refrain from having a survey on any property they plan to purchase are taking a big risk.

Mr Rispin said such buyers could face huge repair bills if these problems only become apparent once the sale has gone through.


©

Author:  Joanne McCabe

Mail to a friend  |   Print this news  |  Contact Us  |  About Us

Publish our Property values articles on your own site!

All our Property values articles are available for republishing, provided the links in the content remain intact. You can also use our RSS news feed to republish all of our Property values articles.