Survey Homes KOS Ltd

Where a surveyor has recommended further investigations be carried out, these should ideally be finalised, prior to a legal commitment to purchase. Depending on the results of the investigations, repair or replacement works may be necessary. The cost of any such works should be determined by obtaining competitive estimates from suitable contractors. Depending on the estimates/costs, the buyer may decide to withdraw from the purchase or seek a reduction in the purchase price, to reflect the likely costs of any necessary repair/replacement works. Typically these further investigations will be for dampness related issues, suspected progressive structural movement, Japanese Knotweed infestation etc. If the further investigations and the costs of any necessary works are not determined, prior to a legal commitment to purchase, the buyer runs the risk of paying for the works themselves after purchase. They will also have missed the opportunity of trying to negotiate the purchase price downwards to reflect the costs of any necessary works.

Where a surveyor has recommended further investigations be carried out, these should be arranged by the buyers themselves. It is not uncommon for the estate agents selling the property to offer to arrange the further investigations. However as they are acting in the best interests of the seller, there is the potential for a conflict of interest. Similarly, the sellers will often offer to arrange further investigations. However, as the results of the investigations will likely be addressed to the seller, the buyer will probably not be able to rely on any reports produced or guarantees provided. It is always best for the buyers themselves to arrange their own further investigations.