Buying Premises

6. Using a Surveyor

A chartered surveyor can advise you throughout the purchase process. At the outset, find out what the fee will be, plus any extra charges.

6.1 Your surveyor can do the initial search for premises and shortlist the suitable ones.

• He or she can assess the condition and investment value of these premises.

6.2 Before buying premises, a full survey (not just a valuation) is essential, to check:

• The actual size of the premises. This may vary from the agent's details.
• Whether the building complies with building regulations.
• The estimated cost of any current and future building repairs.
• The condition of services, such as lifts.
• Whether any dangerous materials were used in the construction, such as asbestos or high alumina cement, which may need to be removed or replaced.
• Any unusual problems that might otherwise be overlooked.

6.3 Choose a surveyor recommended as being experienced and reliable.

• Check who will do the work. You may be impressed when you meet a partner from the firm, only to find that a junior employee then does the work.
• Ask what type of survey the surveyor recommends, and why. For example, a specialist mechanical survey of lifts and air conditioning equipment. Make sure the survey covers all your areas of concern. The surveyor cannot be not held responsible for things he or she does not agree to check.
• Check the cost and timing of any work that needs to be carried out.
• Check that the surveyor has professional indemnity insurance.

6.4 If you are planning to get a mortgage, liaise closely with your bank.

• Check whether your surveyor's report will be acceptable to the bank, to reduce your mortgage set-up fees.
• Do not rely on a survey commissioned by your bank. If the bank's survey overlooked faults, you would usually have no comeback, as you would not have been the surveyor's client.