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First-Time Buyers: What Happens if a Survey Finds a Problem With the Property?
Many first-time buyers feel anxious about the results of a property survey. Surveys are an important part of the home buying process because they help identify potential issues with the property before the purchase is completed.
In a recent video shared during First Time Buyers’ National Home Buying Week, Sam Finn, Trainee Solicitor in our Conveyancing team, explains what buyers can do if a survey highlights problems with a property they intend to purchase.
Sam Finn explains some of the options available when a survey identifies problems, including seeking further information, asking for repairs, renegotiating the purchase price or deciding whether to proceed.
Video by Sam Finn, Trainee Solicitor in the Watkins Solicitors Conveyancing team.
A property survey is arranged to assess the condition of the property and identify any structural or maintenance issues that may not be visible during a viewing.
Common issues identified in surveys can include damp, roofing problems, structural movement, outdated electrics or other repair concerns. The severity of these issues can vary, and the survey helps buyers understand the potential risks and future costs involved.
If a survey highlights issues with the property, there are several options available to buyers.
One option is to renegotiate the agreed purchase price with the seller through the estate agent. If the survey identifies defects or repair work that will require additional expense, buyers may request a reduction in the purchase price to reflect those costs.
In some cases, buyers may ask the seller to carry out certain repairs before the sale proceeds. This may be appropriate where the survey identifies clear defects that the seller is willing to address prior to completion.
If the issues identified are relatively minor, buyers may decide to proceed with the purchase while planning to carry out repairs themselves after completion. The survey allows buyers to make an informed decision about future maintenance.
If the survey identifies serious structural problems or significant risks, buyers may decide that the property is no longer suitable and withdraw from the transaction.
While survey results can sometimes be concerning, they provide valuable information that allows buyers to fully understand the condition of the property before committing to the purchase.
Having this information early in the process allows buyers to renegotiate, plan repairs or reconsider the transaction if necessary.
Our Conveyancing team supports buyers and sellers with residential property transactions across England and Wales, providing clear advice and practical guidance throughout the home buying process.
If you are purchasing a home and would like advice about the conveyancing process, our specialist team can guide you through the legal work involved and help you understand how issues identified during the transaction may affect your purchase.
The full video, featuring Sam Finn answering this frequently asked question, is available above and on our social media channels as part of First Time Buyers’ National Home Buying Week.
If you are planning to buy your first home and would like advice about the conveyancing process, our specialist team would be happy to help.
You can contact our Conveyancing team by emailing MovingHome@watkinssolicitors.co.uk or calling 0117 939 0350 to discuss your situation and next steps.
Our Conveyancing TikTok features short videos from the Watkins Solicitors Conveyancing team answering common questions about buying and selling property, first-time buyer issues and the conveyancing process.
Follow @watkinssolicitors.convey for practical explanations from our team and to see our latest property videos.