Who Arranges the Survey When Buying a House : Understanding the Role of Surveys in Home Buying

When purchasing a home, understanding the survey process is essential. Typically, the responsibility for arranging a survey falls on the buyer, although it's a good idea to discuss this with your real estate agent. Surveys are vital as they assess the property's condition and value, ensuring that buyers are aware of any potential issues before finalizing the purchase.

What Types of Surveys Are Available?

There are several types of surveys you can consider, including:

1. Homebuyer Survey: A basic survey that highlights significant problems and provides recommendations.
2. Building Survey: A more detailed inspection that covers the entire property, ideal for older homes or those in need of renovation.
3. Valuation Survey: Primarily for lenders, this survey assesses the property's market value for mortgage purposes.

Who Pays for the Survey?

Usually, the buyer is responsible for the cost of the survey. It's crucial to budget for this expense, which can vary significantly based on the property's size and location.

When Should You Arrange the Survey?

It's advisable to arrange the survey after your offer has been accepted but before you complete the purchase. This timeline allows you to address any issues that may arise from the survey's findings.

FAQ

Q: Can I skip the survey when buying a house?A: While it’s possible to proceed without a survey, it is highly discouraged as it can lead to unforeseen costs and issues later on.

Q: How long does a survey take?A: The duration of a survey can vary, but most surveys are completed within a few hours, with the report typically delivered within a week.