Flats and Surveys

[anon_private 0]

Is it necessary to get a survey on a flat to be purchased. The building is the responsibility of the owner - assume leasehold

[Zak Arden 1]

Hi,

 

You are quite right that usually the freeholder is responsible for the building, however your lease will set out who is responsible for carrying out repairs to your flat and to any shared facilities. Most leases say that the leaseholder is responsible for maintaining and repairing the inside of their home. This usually includes repairs to:

 

·       all internal decoration, including carpets and paintwork

·       furniture and appliances

·       internal plumbing and wiring

·       plasterwork

·       floorboards

 

The freeholder is usually responsible for arranging repairs to the building's structure or shared areas - but as a leaseholder you may have to contribute to the cost of these repairs.

 

Therefore a survey will offer you a number of benefits and it is advisable to still undertake one before purchasing.  For flats, the best type of survey is an RICS HomeBuyer Report. This is the middle tier RICS survey and is the most popular condition and valuation report, due to it's concise format 

 

The first benefit is that it will highlight any areas within your flat that may need repairing now, or in the near future. It will look to see if the electrics and plumbing are safe and up to modern standards (though the Surveyor cannot test these) as well as any other internal problems such as damp. These are things you, as the leaseholder, will need to pay to repair.

 

The Surveyor will briefly look at the communal areas to look for any large, obvious defects. It is beneficial to know this before buying, as any required works may largely inconvenience you or you may have to contribute towards the repairs.

 

Finally, the RICS HomeBuyer Report includes an independent market valuation. This will tell you whether you are paying the correct amount for the property – if you are overpaying, you can use it as a negotiation tool.

 

On average, HomeBuyer Reports cost under £400 but they are worth their cost due to all of the benefits listed above.

 

For more information, please visit www.surveybooker.com.

 

Kind regards,

 

Zak Arden

Managing Director

Surveybooker.com