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Pre Purchase House Survey - Older Report

  • 29-01-2020 6:28pm
    #1
    MarkJD
    Registered Users, Registered Users 2 Posts: 802 ✭✭✭


    Hi all,

    I was wondering if there is any period for which a structural survey on a property would not be accepted by your bank before the Letter to Offer is given?

    Reason i ask is that im in the process of buying a property and the company we where looking to hire to complete the Pre-Purchase House Survey already completed a report on this property in November. I have been given a copy of this report to use by the Auctioneer and was going to ring the company to verify all is above board with the document as per their completion. Bank is due to assess and value the property next week and im unsure if the timelines on the report need to be within the last 30 days, 90 days, 6 months etc.



    Conscious of delaying things and am aware the company would likely lap up the opportunity for another assessment / sale. Should I be a bit hesitant using a report that is a few months old but also dont want to flat out waste €500 for the same report. I dont suspect anything further or worse is wrong the with the property and I do know the houses well as I grew up in the same estate.

    Should i look at using another company? Will i regret not getting our own done or will the bank likely refuse to accept this one? I also would like an opportunity to save the €500 as that is some appliances etc.

    Appreciate any insight.


Comments

  • #2
    Sparky85
    Registered Users, Registered Users 2 Posts: 120 ✭✭Sparky85


    Banks don’t usually request the survey unless their valuer says it’s necessary. They advise you to get one done for due diligence etc. but don’t usually ask to see it unless its semi derelict, requires renovation or similar unusual circumstances

    Is there something on the survey that made the previous buyers in November pull out of the sale?

    This is the biggest purchase of your life, buyer beware and all that so piece of mind for the price of a washing machine would be worth getting your own done IMO


  • #3
    MarkJD
    Registered Users, Registered Users 2 Posts: 802 ✭✭✭MarkJD


    Hi,

    Thanks a lot for the response and the advice.

    The guidance given to us is that their Life Insurance & Mortgage Protection fell through and this is the reason the sale fell through. There isnt anything major that sticks out in the report of any major concern and other than some fencing issue with the property there isnt anything else raised as a concern from the report.

    Have some engineering and surveyor friends that will give it a quick review to get their perspective but you are right maybe we should just get our own done.


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