Surveys - Why they're needed and what they mean

✅What this milestone means

Your buyer has booked and completed their inspection of your home. Depending on their lender and personal appetite for detail, this could be:

•Mortgage valuation– a brief, lender-ordered check to confirm the property is worth the agreed price.

•Level 2 HomeBuyer Report (RICS)– an on-site inspection looking at visible issues (damp, roof, services) and giving condition ratings.

•Level 3 Building Survey– the most in-depth option, suitable for older or altered properties; the surveyor inspects loft, sub-floor voids and structural elements.

💡Why the survey stage matters

1.Financing– the lender will only release funds if the valuation matches (or exceeds) the purchase price.

2.Confidence– a clean report reassures the buyer and speeds up mortgage offer and exchange.

3.Negotiation trigger– significant defects could lead to price renegotiation or requests for remedial work.

🛠️What’s happening in the background

•Surveyor– visits, compiles report, and sends it to the buyer (and lender if a valuation).

•Mortgage Broker / Lender– reviews the valuation figure before issuing the formal mortgage offer.

•Open Moove– logs the survey date and notifies you when the report has been delivered, so you know if questions or renegotiations may follow.

📌What you need to do now

1.Stay accessible– be ready to answer post-survey queries about warranties, guarantees or past building work.

2.Gather paperwork– have boiler service records, damp-proof guarantees or planning approvals on hand; sharing them quickly can neutralise concerns.

3.Keep perspective– most surveys flag routine maintenance; serious issues are rarer. Discuss any buyer feedback calmly with your estate agent.

⏭️Next 3 things to prepare for

1.Mortgage offer milestone– if the valuation is fine, the buyer’s formal offer should land within a week or so.

2.Enquiry follow-ups– the buyer’s solicitor may raise extra enquiries based on survey findings; respond promptly to avoid delays.

3.Negotiation strategy (just in case)– talk to your agent about your bottom-line position should the buyer request a price adjustment.

Have a survey question or need help interpreting “Condition Rating 3”? Ask in the Moove Room - MeredithAI will translate the report into plain English and suggest your next move.

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