What to Do I do after Receiving a Building Survey Report
Buying a home is a big decision, and it’s important to do your due diligence before you sign on the dotted line. One of the most important things you can do is get a building survey. This will give you an independent assessment of the property’s condition and identify any potential problems.
If you’ve received your building survey report and there are some issues, don’t panic. Here’s what you need to do next:
- Understand the results of the survey. The first step is to read the report carefully and understand what the surveyor has found. They will have highlighted any areas of concern and made recommendations for further investigation or repairs.
- Establish the cost of repairs. If the surveyor has recommended repairs, you’ll need to get quotes from contractors to get an idea of how much they will cost. This will help you to decide whether you still want to buy the property, or whether you need to negotiate a lower price with the seller.
- Decide whether you still want to buy the property. Once you know the cost of repairs, you need to decide whether you are still happy to buy the property. If the repairs are too expensive, or if you don’t have the time or skills to do them yourself, you may need to walk away from the sale.
- Negotiate with the seller. If you do still want to buy the property, you can try to negotiate a lower price with the seller. You can use the survey report to support your case, and you may be able to get the seller to agree to pay for some or all of the repairs.
If you’re not sure what to do after receiving your building survey report, it’s a good idea to speak to a qualified conveyancer or property lawyer. They can help you to understand the report and advise you on the best course of action.
What if I don’t have the money to fix the problems?
If you don’t have the money to fix the problems, you may need to walk away from the sale. However, you may be able to get the seller to agree to pay for some or all of the repairs.
What if the seller refuses to negotiate?
If the seller refuses to negotiate, you may need to decide whether you are still happy to buy the property at the original price. If not, you may need to walk away from the sale.
What if I don’t understand the report?
If you don’t understand the report, you should speak to a qualified conveyancer or property lawyer. They can help you to understand the report and advise you on the best course of action. Receiving a building survey report with some issues can be daunting, but it’s important to remember that you have options. By following the steps above, you can make an informed decision about whether or not to buy the property.
Do you have any other questions about what to do after receiving a building survey report?