Survey - When to get it done?

[andweallloveclover]

Looking for some advice on when to get a survey done on our forward purchase. We are at the point where the chain is almost complete (will be complete early this coming week) We have a grade 2 listed cottage and our buyers, understandably, are having a L3 survey done. We also want to have a survey on our forward purchase which is a bungalow built in 1992.

Our cottage is quirky and old but, in our opinion, in good condition. We really look after it. We have, in the 10 years we have lived here, not had a problem with damp or mold and as far as we can see, there are no issues with the roof/chimney/structure etc. However we know the house is old and that a L3 survey may pick up issues that we can't see or don't know about.

We think we should wait for the results of the survey on our house before booking a survey on our forward purchase just in case something gets flagged that our buyers then have a problem with and want to renegotiate or worse case scenario they pull out.

Obviously with our forward purchase being an 'in good condition' bungalow, any survey issues are more likely with our current house and we don't really want to spend on a survey if, for some reason, our buyers end up pulling out.

So would it be okay to wait? Would you?

Unfortunately the way it works in this country with buyers (and sellers) being able to pull out for any reason and at any time up to exchange, waiting for the survey on your own property doesn’t guarantee anything. They may think about it for a couple weeks or want to get more specialist reports. So you could possibly be delaying the chain for weeks. And what if the survey you get throws up something? Or others in the chain get fed up with waiting? Or your sellers decide you aren’t serious if you delay booking a survey?
I personally would take a positive approach and go ahead and book the survey on the assumption that anything flagged on their or your survey can be dealt with.

As said anyone involved can pull out at any time and I think you have to just get on with it. Another reason for someone pulling out in the chain could be a delayed completion date, so if you delay yours than could impact when you're ready to exchange on your ongoing purchase and others in the chain could be frustrated with you.

Your buyers know they're buying an older property, so will be expecting one or two things to come up on survey. They just want to be sure what they're taking on.

We were in a chain of seven, just happened the survey was done on our old house the day before we had ours done on our ongoing purchase.

Thank you.

I think once the survey is booked on our house, I will then go straight ahead and arrange the one for our forward purchase.

I think I was just feeling nervous about spending money on a survey that might be pointless if our buyers survey throws up unforeseen issues and they pull out. They are hardly cheap are they? 😬But I also don't want to piss people off and slow down the process so I guess we have to just go with it and trust that our buyers will be happy to renegotiate if anything does come up.

DS and DD both did survey and mortgage application as soon as a chain was complete.

They engaged the solicitor so the engagement paperwork was done but asked for work to be held off and only paid for searches once the survey was OK. My DD renegotiated after her survey, DS pulled out of one and then bought the next at the agreed offer price.

This way they didn't have any significant legal costs until they knew the purchase had legs.

Surveys can take a while to arrange (although the reports themselves seem to.come through fairly quickly) so I think.its worth getting on with that.