The value of surveys
Surveys come in a number of shapes and sizes, but I am referring specifically here to the surveys that are produced as part of the process of buying a house. This would either be a valuation survey, homebuyer’s survey or a structural survey – which is where I come into the equation.
There is an inherent conflict in the production of these documents. On the one hand, the surveyor wants to present relevant information to the person who commissioned the report – usually the purchaser – but on the other we all have to keep one eye on the institution that required the report in the first place. The purpose of the report, as far as the lender is concerned, is to safeguard their investment. Insurance companies take an interest in the report as, in the event of a claim, they will be seeking ways to recover their losses.
As a consequence of this, we authors have to put all sorts of caveats about how the report is a “snapshot of the building at the time of the inspection”; how only the person to whom the report is addressed can rely upon the report and various other phrases that are intended to protect the surveyor.
The fact is, when it comes to bringing an action against a consultant it is less to do with what is wrong or right and more to do with where the defense is weakest. For instance, if I do not explain to a prospective client that I am actually carrying out a visual inspection rather than a structural survey, the Court will ask why I did not lift floorboards to measure floor joists or dig trial holes to examine foundations.
The consequence of all of these ifs, buts, whys and wherefores that surveyors would be foolhardy to exclude from their reports is that it becomes bloated with incidental paragraphs and the reader has to wade through much verbiage to find points of interest.
The brutal truth is that surveys of this nature are only useful in that they facilitate a loan or the completion of a transaction. When it comes to actual hard and fast information they are about as useful as a chocolate teapot. If simply want to know whether or not your prospective new home has any indication of becoming a bit of a money pit, you would be better off asking someone you know and trust in the building game to have a quick squint on your behalf. It is unlikely that you will get anything that you can rely upon in a court of law, but you are more likely to get an honest assessment of the issues you may face should you complete the purchase.
This is one of the reasons why I carry out the initial inspection at my cost. It provides me with an opportunity to describe precisely what will go in my letter report and allows the prospective client to make an informed decision.
Besides it gives me a chance to nose around other people’s houses. Always fun!
Keith