In a word, yes. Prospective home buyers need to be aware that none of the usual consumer protections apply when buying a house and the principle of ‘Buyer Beware’ applies here.
There may be defects in a property such as woodworm, damp, structural cracks that may prove very costly to repair. Accordingly all house purchasers should arrange to have a thorough structural survey carried out on a property before contracts are signed and returned to the Vendor’s solicitor.
A surveyor should examine the property in detail and furnish the Purchaser with a detailed report on the condition of the property. The report will also refer to any alterations or extensions carried out on the property which may require planning documentation to be furnished to the Purchaser’s solicitor.
In the event that an issue arises this will have to be dealt with pre-contract and therefore a survey should be commissioned as soon as a booking deposit has been paid to the auctioneer.
A surveyor’s report should not be confused with a valuation report which is requested and usually commissioned by a purchaser’s lending institution. The valuation report is merely to confirm that in the valuer’s opinion the property is worth what the purchaser has agreed to pay for it and does not refer to the structure of the property.