Mike Carter

Mike Carter,
Head of Conveyancing

Paul Crowley & Co solicitors is urging Liverpool home buyers to conduct an independent survey before buying a new property.

According to the firm, many buyers are relying on their mortgage valuation report, rather than instructing a specialist to conduct an independent survey.

The firm’s head of conveyancing, Mike Carter, is urging buyers to beware that mortgage valuation reports are for valuation purposes only, and may not identify any defects to the property.

He says: “The valuation process is simply a superficial inspection to check on the value of a property, and does not offer an in-depth inspection of the building. I recently saw a mortgage valuation from a high street lender which stipulated it was desktop only, meaning the valuer had not even visited the property.”

“A prudent buyer should give serious consideration to having their potential home surveyed by an independent surveyor to identify any structural or other defects likely to give rise to problems and expenditure in the future. This could either be through a full structural survey, or a RICS homebuyer survey and valuation as a cheaper alternative.”

“If items are identified by your survey report then you will have the opportunity to get any relevant costings, giving you the power to negotiate over the price with the seller.”