Are you a Buyer Contemplating a Purchase?

• If you are a buyer contemplating a purchase, you should always take advice when buying something expensive.

• If you are buying a home with the assistance of a mortgage, the lender will most probably obtain a valuation report to confirm that the property has reasonable security for a loan.

• Although that valuation will be carried out by a qualified valuer and is often paid by you, the verifier is usually intended to satisfy the requirements of the lender and not you, the buyer.

• The valuation will provide brief details based on a limited inspection and if you receive a copy of it, the detail is not sufficient to provide you with enough information to base a decision to proceed with a purchase.

• A prospective buyer should therefore commission their own report which will cover in more detail areas not included in the valuation.