Once a sale is agreed, the purchaser may want to arrange for their own survey of the property although it is not always necessary, especially if you are buying a flat in a large purpose built block for example.
 
If the purchaser is applying for a mortgage, the bank or mortgage company will send their own panel valuer to inspect the property and report to the lender on whether they think the property is suitable for lending the amount of mortgage applied for by the purchaser. This is not a substitute for a formal, independent survey but if there were any major issues, it is likely that they would be flagged or mentioned by the valuer to the lender. Remember, however, that although the purchaser pays the fee for this valuation, it is not commissioned by the purchaser - it is commisioned by and is for the benefit of thye lender.

There are two types of formal survey that a purchaser can choose:

HOME BUYERS INSPECTION/SURVEY
This is the most common and cost-effective option It gives a comprehensive overview of the main structural elements of a property. This type of survey is adequate for most types of property purchase.

FULL BUILDING SURVEY
If you were purchasing a derelict property or if you just wanted a highly detailed report on a property, then this type of survey would most likley be the best option, although the cost is significantly higher than a Home Buyers Inspection/Survey.

TMD can recommend surveyors, should you need one. Contact us for further details.