Purchasing a property is a huge investment and one that you want to make sure you get right. No matter how experienced you are in the construction industry, commissioning a pre-acquisition property survey is essential. A pre-acquisition property survey identifies potential issues with the property before you finalize the purchase and helps you make an informed decision. In this blog post, we will discuss what to expect from a pre-acquisition property survey and why you should commission one.
1. Detailed Examination of the Property
One of the first things you can expect from a pre-acquisition property survey is a detailed examination of the property. This involves an inspection of the interiors and exteriors of the building and identifying any potential problems that may affect the structure. The surveyor will pay attention to the condition of the roofing, walls, flooring, foundations, and other essential parts of the building.
2. Expert Assessment of the Property
When you commission a pre-acquisition property survey, you can expect an expert assessment of the property from a professional who specializes in this type of work. The surveyor will provide you with an unbiased opinion of the property which will help you make an informed decision about the purchase. Furthermore, they will also offer an estimate of the costs to address any problems that they uncover.
3. Review of Permissions & Regulations
A pre-acquisition property survey should also look into the local authority’s regulations that govern property construction and the necessary permissions. If any works carried out on the property in the past were not up to code, a surveyor will identify them. This is essential, as you don’t want to purchase a property that is not up to regulation and may cause you problems in the future.
4. A Comprehensive Report
Once the survey is complete, you can expect a detailed report that explains any issues identified with the property. The report will be comprehensive, easy to understand, and will include images where necessary to explain the issues identified. It should also include recommendations and an outline of the costs associated with any repairs required.
5. Peace of Mind
One of the most important things a pre-acquisition property survey offers is peace of mind. By having a survey carried out, you can rest assured that you are aware of any issues with the property before purchasing it. This knowledge enables you to negotiate the price fairly, and either renegotiate or withdraw from the sale, if necessary.
Conclusion
Purchasing a property is a considerable investment and one that you should approach with caution. When commissioning a pre-acquisition property survey, you can expect a detailed examination of the property, an expert assessment of the property, a review of permissions and regulations, a comprehensive report, and most importantly, peace of mind. Therefore, if you are purchasing a new property, we strongly recommend commissioning a pre-acquisition property survey to ensure that you make an informed decision.