As if the outright purchase of a property isn’t costly enough, but then lenders insist that a number of additional homebuyer reports and related surveys are completed to safeguard any investment. The majority of which are for things that ‘general joe-blogs’ knows little, or nothing about, or would be deemed to have little relevance to the actual sale of a property.
Regardless of which camp you reside, the reality is that these assessments predominantly look at the physical performance of certain variables, and how they may positively or negatively impact on the property itself; architectural, structural, drainage, and energy, to name just a few.
Interestingly, the outcome if adjudged to be unsatisfactory doesn’t necessarily require any further action, or prevent any potential transaction taking place, which brings in to question the validity of the checks in the first place.
All well and good, but this becomes particularly unnerving when potentially harmful substances are identified, that could have catastrophic effects longer-term and prove costly to remove.