The reason a survey is instructed is to satisfy not only the mortgage lender that a property is worth the price you are paying for it but also peace of mind for yourself.
Welcome to Connect UK’s Auction Academy – Here to answer all your property auction questions.
So, should you have a survey carried out on a property you’re looking to buy through auction?
It is important to know that a survey is not a legal requirement if you are paying cash and it is your choice as to whether to have one instructed. If you are unsure about the properties structure or condition then you may decide to get an expert advice.
Remember, when the gavel falls contracts are exchanged and these contracts are not subject to a survey taking place so if you’re thinking of buying through auction make sure that you have done your research first.
Remember you are the buyer and you are in control. The auction company you are buying from will always be on hand to answer any questions you may have.
Check out our other videos on what is a buyer’s premium and what to look out for when viewing a property.
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