Over 90% of home buyers did not pay for a home survey during the first three months of this year.

[70PC]

Zombie market. People cutting costs at every opportunity.

"The percentage of buyers who opt to pay between £450 and £850 for a more comprehensive survey than the mortgage valuations completed by their lender has dropped dramatically, the CSS figures suggest.

In the past many surveying firms have reported that approximately 20% of buyers pay for an additional survey but the new data would suggest this has halved as cost of living pressures have born down on many buyers."

https://thenegotiator.co.uk/news/products-services-news/big-firm-alarmed-over-most-buyers-rejection-of-home-surveys/

[fellow]

Have the surveyors thought about dropping their prices or are they happy losing their jobs?

[lie to bet]

Is it worthwhile paying the extra £900 to receive a large document which is mainly standard blurb, plus

1. Roof timbers not inspected as it is not safe to enter the loft.

2. Weather dry.

3. Unable to inspect floor boards and joists due to carpets.

4. Wiring should be checked by an electrician.

5. Heating should be checked by  a qualified heating engineer 

Etc.

 

[A.steve]

1 hour ago, fellow said:

Have the surveyors thought about dropping their prices or are they happy losing their jobs?

Given my personal experiences, I doubt they've even considered either attempting to do their job competently... or treating their customers with superficial respect.

Edited April 25 by A.steve

[MerchantNavy]

8 hours ago, lie to bet said:

Is it worthwhile paying the extra £900 to receive a large document which is mainly standard blurb, plus

1. Roof timbers not inspected as it is not safe to enter the loft.

2. Weather dry.

3. Unable to inspect floor boards and joists due to carpets.

4. Wiring should be checked by an electrician.

5. Heating should be checked by  a qualified heating engineer 

Etc.

 

Yes it does appear to be a quarter of an attempt to survey but isn't the whole point to utilise what little info they do provide to knock down the offer.

[70PC]

14 hours ago, A.steve said:

Given my personal experiences, I doubt they've even considered either attempting to do their job competently... or treating their customers with superficial respect.

Fair comment but the precipitate drop in surveyor instructions is interesting. 

[A.steve]

6 hours ago, 70PC said:

Fair comment but the precipitate drop in surveyor instructions is interesting. 

I agree.  Despite (at least some) surveyors being spectacularly incompetent and unhelpful, I would still expect them to be instructed in the context of negotiations to buy substantial homes.  With a small standard-construction house, the surveyors fees will be more significant relative to the purchase price... with more substantial real-estate, there is a much greater prospect for expensive urgent repairs to be needed... and any hint at that would be a bargaining chip worth more than the (even exorbitant) price of the report.  I've bought two houses in my lifetime - the second costing ten times the first.  With the first, I didn't bother with a separate surveyors' report... because it would have been a significant cost relative to the purchase price - and I deemed my money better spent on any necessary repairs, if there had been flaws I'd overlooked.  With the second, I commissioned a full report - top-of-the-range... the only problem was that the surveyor was obnoxiously unhelpful after he had been commissioned - and his report contained only irrelevant misleading gibberish and boiler-plate text.  I have zero respect for the surveyor... but recognise that it's hard to commission services from competent providers when you only need the service once in a lifetime.

[sta100]

23 hours ago, lie to bet said:

Is it worthwhile paying the extra £900 to receive a large document which is mainly standard blurb, plus

1. Roof timbers not inspected as it is not safe to enter the loft.

2. Weather dry.

3. Unable to inspect floor boards and joists due to carpets.

4. Wiring should be checked by an electrician.

5. Heating should be checked by  a qualified heating engineer 

Etc.

 

I think the main purpose is a tickbox if you ever need to demonstrate your house was not problematic when you moved in to an insurance company if you ever need to make a claim

 

 

 

 

Edited April 26 by sta100

[SlimJ]

When we bought our (grade 2 listed) house we had the survey done, but generally found it to be pretty basic and useless. Suggested things like the loft was ‘insulated’ - but when we moved in we found there was barely any in place!!

Better off getting a trusted general builder / trade friend to check the property as they will give more insight into issues than a surveyor.

[winkie]

2 hours ago, SlimJ said:

When we bought our (grade 2 listed) house we had the survey done, but generally found it to be pretty basic and useless. Suggested things like the loft was ‘insulated’ - but when we moved in we found there was barely any in place!!

Better off getting a trusted general builder / trade friend to check the property as they will give more insight into issues than a surveyor.

Different types of survey.......the basic one lenders usually want most people could do themselves, walking around looking and maybe asking questions.......full structural survey might want to pay for if buying an older listed building.........you can use the survey to negotiate on the price if it flags up issues that need rectification and associated costs to do the work.....woodworm, subsidence, dry rot, wiring,plumbing, damp proofing etc or walk away......so survey could quite easily pay for itself.

[A.steve]

On 27/04/2024 at 09:50, winkie said:

Different types of survey.......the basic one lenders usually want most people could do themselves, walking around looking and maybe asking questions.......full structural survey might want to pay for if buying an older listed building.........you can use the survey to negotiate on the price if it flags up issues that need rectification and associated costs to do the work.....woodworm, subsidence, dry rot, wiring,plumbing, damp proofing etc or walk away......so survey could quite easily pay for itself.

That would make sense if the top-of-the-range survey report were to contain accurate information.  The most recent two "full surveys" I've read were actively unhelpful.  The "minimal-survey" - which does little more than confirm the existence of a building - at least avoided introducing inaccurate nonsense into proceedings.  Where reports contains misleading/incorrect information about things which are not issues - and completely fails to identify the issues that do require attention... the report is an expensive waste of time.

[winkie]

9 minutes ago, A.steve said:

That would make sense if the top-of-the-range survey report were to contain accurate information.  The most recent two "full surveys" I've read were actively unhelpful.  The "minimal-survey" - which does little more than confirm the existence of a building - at least avoided introducing inaccurate nonsense into proceedings.  Where reports contains misleading/incorrect information about things which are not issues - and completely fails to identify the issues that do require attention... the report is an expensive waste of time.

Yes, it can very much be a waste of time, in most cases telling us what can see for ourselves, always opt out of responsibility clauses, didn't see the rot underneath the fitted carpet and so on.....they are not cheap either.

[nothernsoul]

The cheapest, level 1 type of survey has really just one purpose. That is to let the lender  know that the property is worth the  mortgage they are providing( it is a condition of the mortgage). It will consist of a quick look round the inside and outside of the property. The surveyor will then look on Zoopla sold and asking prices to ascertain a value for the lender. In my opinion this type of survey is more for the banks benefit than the homeowner, and for a cash buyer not much more than they could do themselves.

When I bought my house I opted for the homebuyers report( level 2 ), this provided more detail( he got ladders out and checked the loft and under the floor, and because he was getting a few hundred pounds more for his expertise, the surveyor let me come round the empty property with him and ask questions. As a first time buyer with little knowledge of houses,this saved me several thousand pounds ( he pointed out property needed a new damp course, rewire, realistically gave a cost for updating etc) as I could reasonably ask the buyer to reduce the price, which they did. In my opinion, definitely worth the money, not just for the cash saved, but also the peace of mind.

[MerchantNavy]

On 4/28/2024 at 2:08 PM, nothernsoul said:

The cheapest, level 1 type of survey has really just one purpose. That is to let the lender  know that the property is worth the  mortgage they are providing( it is a condition of the mortgage). It will consist of a quick look round the inside and outside of the property. The surveyor will then look on Zoopla sold and asking prices to ascertain a value for the lender. In my opinion this type of survey is more for the banks benefit than the homeowner, and for a cash buyer not much more than they could do themselves.

When I bought my house I opted for the homebuyers report( level 2 ), this provided more detail( he got ladders out and checked the loft and under the floor, and because he was getting a few hundred pounds more for his expertise, the surveyor let me come round the empty property with him and ask questions. As a first time buyer with little knowledge of houses,this saved me several thousand pounds ( he pointed out property needed a new damp course, rewire, realistically gave a cost for updating etc) as I could reasonably ask the buyer to reduce the price, which they did. In my opinion, definitely worth the money, not just for the cash saved, but also the peace of mind.

That's good to know. I'll be a first time buyer, one day, I hope.

[Will!]

On 28/04/2024 at 14:08, nothernsoul said:

The cheapest, level 1 type of survey has really just one purpose. That is to let the lender  know that the property is worth the  mortgage they are providing( it is a condition of the mortgage). It will consist of a quick look round the inside and outside of the property. The surveyor will then look on Zoopla sold and asking prices to ascertain a value for the lender. In my opinion this type of survey is more for the banks benefit than the homeowner, and for a cash buyer not much more than they could do themselves.

I'm seeing houses with the asking price well above the Zoopla price.  I suppose few buyers will be able to get a mortgage for more than the Zoopla price.

[Adrian Mole]

 I didn't bother getting a survey beyond the basic valuation one last time we moved house, neither did our buyer. 

Nothing to do with cutting costs as suggested by @70PC

Everything to do with most of them being a waste of money with so many caveats they are next to useless. In most cases it's only worth paying for one if you intend to use it as ammunition to get your seller to knock a few quid off the price. 

Having said that, probably would get one if I was ever buying a very old house but for newer houses, no.    

 

[70PC]

49 minutes ago, Adrian Mole said:

 I didn't bother getting a survey beyond the basic valuation one last time we moved house, neither did our buyer. 

Nothing to do with cutting costs as suggested by @70PC

Everything to do with most of them being a waste of money with so many caveats they are next to useless. In most cases it's only worth paying for one if you intend to use it as ammunition to get your seller to knock a few quid off the price. 

Having said that, probably would get one if I was ever buying a very old house but for newer houses, no.   

It was the words "dropped dramatically" prompted the original comment. I agree with you to some extent but not completely. A 30 page report listing scratches and dents would be of no interest.  More serious issues however do matter as does the surveyor's insurance cover. Some years ago an elderly relative was buying flat without a survey. I pressed her into getting a survey. The surveyor called her to say a survey would be a waste of money. The whole building had concrete problems. My relative withdrew the offer. The seller phoned her and let rip with an avalanche of expletives. 

[Adrian Mole]

Ok so occasionally people do get useful information from surveys I won't deny that. 

However, I do stick with my original comment that most of them are a waste of time. They scare the pants off FTBs but most only list what problems a property of that age could have or may have and are written using copy & paste set phrases. We see that all the time over on Mumsnet where people post sections from their surveys. 

My main point is that I think buyers are less willing to pay for them these days because they have become more savvy to how lacking in meaningful information most of them are. It's a perceived lack of value, even if (as you say) sometimes they can be useful. Potential buyers often prefer to get builders round to check what needs doing or specialist surveys re damp etc if they suspect that might be a problem rather than a general property surveyor. 

[Unmoderated]

On 25/04/2024 at 23:34, lie to bet said:

Is it worthwhile paying the extra £900 to receive a large document which is mainly standard blurb, plus

1. Roof timbers not inspected as it is not safe to enter the loft.

2. Weather dry.

3. Unable to inspect floor boards and joists due to carpets.

4. Wiring should be checked by an electrician.

5. Heating should be checked by  a qualified heating engineer 

Etc.

 

Bingo!

It's so heavily caveated it's worthless.

I didn't bother with one when i bought mine. Even if i had they wouldn't have found the asbestos - it was burried in an internal wall.

[Timm]

I think I might be in a minority of one here.

I surveyed* the latest house myself before making an offer. I spotted 3 missing lintels and a sagging gutter. Also the house was 70 years old, needed rewiring, re plumbing (micro bore central heating) and a full refurb. I estimated costs and made an offer on that basis.

Then I paid for a full structural survey. Why? To potentially spot anything I had missed. It's the same reason I indicate when changing lanes even if the lane is clear - I'm not indicating for cars I have seen, I'm indicating for cars I have failed to spot.

In the event, the surveyor did spot moisture around the chimney breast and recommended new flashing and repointing. I did not renegotiate the price, because the agreed price was based on the works I had spotted and was already more than fair.

 

 

*I'm not a qualified surveyor.

[70PC]

1 hour ago, Timm said:

I think I might be in a minority of one here.

I surveyed* the latest house myself before making an offer. I spotted 3 missing lintels and a sagging gutter. Also the house was 70 years old, needed rewiring, re plumbing (micro bore central heating) and a full refurb. I estimated costs and made an offer on that basis.

Then I paid for a full structural survey. Why? To potentially spot anything I had missed. It's the same reason I indicate when changing lanes even if the lane is clear - I'm not indicating for cars I have seen, I'm indicating for cars I have failed to spot.

In the event, the surveyor did spot moisture around the chimney breast and recommended new flashing and repointing. I did not renegotiate the price, because the agreed price was based on the works I had spotted and was already more than fair.

*I'm not a qualified surveyor.

Minority of two of us, if/when I buy. Who is more likely to spot problems including ones the owners may have tried to cover up? Me or someone who does it every day? Things like asbestos, drains and structural problems etc are a pain and can be expensive to fix.  

[Unmoderated]

2 hours ago, 70PC said:

Minority of two of us, if/when I buy. Who is more likely to spot problems including ones the owners may have tried to cover up? Me or someone who does it every day? Things like asbestos, drains and structural problems etc are a pain and can be expensive to fix.  

Don't expect that level of detail for your few hundred quid survey - even more perhaps. I saw a report suggesting the water tank 'could' be made from asbestos. It was made of plastic. Apparently I'm not qualified to determine that lol. 

If you need one you should get teh top end survey which is a detailed homebuyers report and ensure you get a clear scope of what the report covers ahead of time. Most surveys are done in very little time. 

[Timm]

9 hours ago, Unmoderated said:

(..)

If you need one you should get teh top end survey which is a detailed homebuyers report and ensure you get a clear scope of what the report covers ahead of time. Most surveys are done in very little time. 

My bold.

Just to flag up, a Homebuyers report is not a top end survey. It is a Level 2 report.

[Timm]

A mortgage valuation is for the benefit of the lender.

A Home Condition Report provides a summary of glaring defects and is a Level 1 report.

A Homebuyers report is as above but also checks for damp and timber issues and is a Level 2 report.

A building / structural survey looks for potential problems in more detail, plus structural issues and is Level 3.

[Stewy]

17 hours ago, Timm said:

 

Then I paid for a full structural survey. Why? To potentially spot anything I had missed. It's the same reason I indicate when changing lanes even if the lane is clear - I'm not indicating for cars I have seen, I'm indicating for cars I have failed to spot.

Always remember the Teesside Rule - once you have indicated, you then have right of way. 

😉