You are probably about to take one of the most important investment decisions of your life, and it therefore makes good sense to find out as much as possible about your proposed purchase. It is not prudent to rely wholly on your own subjective judgement.
A mortgage valuation report provides neither proper assurance, nor adequate insurance. The lender is primarily interested in your ability to repay the loan - the security of the property is of secondary importance. Defects and maintenance liabilities may not be discovered from a brief superficial inspection.
The cost of an independent survey is a small amount to pay for peace of mind and to help you decide if your choice is the right one. 'Forewarned is forearmed'.
There are two common types of survey – Homebuyer Report and Building Survey.
For a comprehensive downloadable
guide to property surveys,
please click here