Is a survey for an apartment really necessary?

doctorg

For an apartment, is survey really necessary? While it might only cost a few hundred euros, what will the survey tell that can actually sway you away from the purchase. Hoping to get some advise so that an informed decision can be made.

My understanding is that the structural aspect of an apartment is covered by the management company and associated insurances and a survey wouldn't necessarily check for structural faults. The valuation report by the bank may cover this aspect? Even if structural issues pop up later in time, would it be correct to assume the building insurance would have them covered?

Outside of the structural issue, within the apartment, what would the survey tell that perhaps you could see for yourself. Even then, the issue would perhaps have to be major issue to cause someone to pull out of the sale.

dkRulez

https://x.com/crazyhouseprice/status/1789547900466274392

doctorg

Thanks for the video, its an unfortunate situation but I think it kind of emphasizes the premise of the question. The buyer had a professional survey done. The survey missed it and there's no protection for that. The surveyor is only going to be in the property for a number of hours which does not make it exhaustive and perhaps lucky if the right conditions happen to make an issue apparent during that time.

I'm not trying to discount what a survey brings, I understand it in the context of a house but in the context of an apartment, I'm trying to better understand.

Fiona

When I sold my apt the buyers were not interested in having a survey done, they then changed their mind and got one done.

The person came in and checked all the plumbing, heating system and windows etc. They still bought the apt after that. Not sure if anything came up in it, their was nothing broken so I wasn't bothered by it.

I am not sure if it was a bank requirement to get it done perhaps?

ELM327

When I bought and then sold my apartment, no survey was done. It's not really needed tbh. What's more important with an apartment is having a conveyance solicitor that knows what they are doing for apartment specific stuff like finances, block insurance, sinking fund, etc.

I even found out about the local crank (multiple legal cases against the mgmnt co regarding the aperture of the entrance!) from my solicitor.

doctorg

Good point about the solicitor checking the finance/insurance side of things.

I don't think the bank requires a survey report, at least for apartments so it's more so for the buyers peace of mind

Victor

Apartments on a basement / garden level / ground storey or a storey with a roof / terrace above risk having the exact same problems as a house, more so than apartments on a middle storey.

Sinking fund, any reports of problems with the building and annual accounts can be illuminating for apartments.

tigger123

I've never bought an apartment, but if I was I'd definitely get a survey done. It may pick up on stuff you'd have missed.

Would a survey be able to provide any info on the fire safety of the building?

monkeybutter

https://www.boards.ie/discussion/2058351387/is-a-survey-for-an-apartment-really-necessary

so save 300 quid on a 300k purchase?

surely that's all the information you need

on the rat infestation, if this was hidden by the seller, then the courts are the only recourse

SupaCat95

Surveys are great value for money and pay for the written report too. We almost bought into a money pit in Navan three years ago. We knew that there were some items that needed maintenance but had no idea of the disasters we couldnt see. The chimney was one, problems with the roof. The problems with the plumbing was more than we expected. Then there was rewiring..... We avoided a major disaster. There was also something shady going on with the Estate Agent, "convayence takes time, sometimes upto 3 or 4 months".

SupaCat95

There is always one crank in an apartment block, comes with the territory. In my experience they are people with too much mental time on their hands. One I knew had higher functioning Autism and the other was a disgrutled civil servant who famcied himself as a lawyer after watching one too many tv shows of Law and Order. He may be genuine or he love to get stuck into stuff legally.