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Multiple surveys carried out on houses for sale?

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  • Multiple surveys carried out on houses for sale?

    Hi all,

    Im new to the forum -Hi.

    Im in the process of looking for a house to buy, im a first time buyer and boy what a frustrating process this is. I have so far spent good money on two surveys, not including the mortgage vendor 'valuation' fees. Both houses fell through for one reason or another - one of those reasons being a direct result of the survey findings.

    Anyhow. The main reason for me posting on the estate agent's forum is to find out from any of you EAs out there what percentage of houses on the market have more than one survey carried out on a property that is commissioned by the buyer throughout the lifetime of the property being marketed?

    I see a business opportunity.............

    Graham

  • #2
    Re: Multiple surveys carried out on houses for sale?

    Hi,

    Let me explain. The way I see it is that the market is biased towards the vendor as far as surveys are concerned. Did I not hear rumblings a couple of years ago that the onus would be placed on the vendor to provide a homebuyers survey report, or is that what we see now - the energy efficiency survey of a house?

    Now the only blockage I can see to having the vendor providing a RICS survey and make that available to the prospective buyer is one of liability - namely 3rd party - non-transferable - I see vendor report, I like what I see, I buy house, house falls down because of surveyor negligence = tough luck buddy - no recourse through surveyor indemnity insurance.

    The above is a red herring really because that's a given - that's life with 3rd party liability/indemnity insurance but an interesting point that interests me greatly as it does affect development of a business model.

    Why not make a RICS housebuyer report carried out by a prospective buyer available to other prospective buyers - I know the arguments for and against - it's a rhetorical question, and lets face it the 'against' outweighs the 'for' considerably? Humour me - what percentage of houses for sale will go through more than one survey? And also, judging by the replies received, if the status quo of the current situation is upset, how would that affect you the estate agent, as I can not see how it would - and I've thought real hard about it?:-)

    Have a happy, merry new year celebration.

    G

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    • #3
      Re: Multiple surveys carried out on houses for sale?

      Happy New Year Estate Agents everywhere!;-)

      I'll tell you what - i'll go and have a chat with the RICS chaps and see if they are any more forthcoming and i'll report back to you chaps my finding if for no other reason than to satiate your curiosity.

      Perhaps the status quo does need to be rebalanced judging by the deafening silence around here.....:-)

      May god bless you with a great 2012.

      Comment


      • #4
        Re: Multiple surveys carried out on houses for sale?

        Perhaps estate agents have no strong views about this one way or another. After all, they earn their commission when the house is sold, regardless of how many surveys might have been undertaken on the same property.

        If you had widened your enquiry to include people other than estate agents, perhaps you might have got more of a response? Just a thought.

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        • #5
          Re: Multiple surveys carried out on houses for sale?

          A Single Survey is a fabulous idea, so much so that the Scottish Government has introduced it as part of our housing legislation.

          Every property marketed for sale since Dec 2008 has to have a Home Report - a surveyor's report with a survey of the property, a valuation, and seller's questionnaire.

          There was an attempt at a single survey scenario in England and Wales, but - as I'm sure you know, having done your research - they rescinded that a couple of years or so ago.

          So - not a new idea, been tried already in E&W, and ongoing in Scotland.

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          • #6
            Re: Multiple surveys carried out on houses for sale?

            But of course, Scotland has a different legal system (similar, I think to much of the Continent and to the Napoleonic Codes?) and so the duty of care/liability issue of a single survey may have been much more easily incorporated there than in England and Wales.
            Last edited by Jeannie D; 14-01-2012, 08:56 AM.

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