There is a popular assumption that when the bank or building society sends round a "surveyor" to check out the house you are hoping to buy, that his report - if it results in loan approval - is a sufficient guarantee of the structural soundness of the house.
According to the Society of Chartered Surveyors, all the lender is doing "is ensuring that the property offers adequate security for the amount of money being borrowed". The society has just produced a booklet which stresses the importance of having a proper survey carried out, if only to avoid any nasty - and expensive - surprises after the mortgage is secured and the owner moves in.
A professional survey will, at the very least, result in an inspection of all visible and accessible interior areas, such as floors, walls, partitions, finishes, etc.
The surveyor will comment on the structure and fabric of the building, including chimney stacks, roofs, walls and finishes. Areas such as roof space, electrics, heating, plumbing and drainage will be inspected. He will check for damp penetration using a moisture meter and report on potential hazards near the property, such as the location of nearby trees.
A more extensive survey may be recommended if the surveyor suspects there is a problem that cannot be inspected visually.
Surveys and written reports carry a fee which can vary according to the size and value of the property, but ultimately will be worth paying, especially if you find out in time that the house of your dreams could have ended up being a house of horrors.
A copy of Buying a House - Have it Surveyed, which includes a list of 14 surveying firms, is available free from the Society of Chartered Surveyors, 5 Wilton Place, Dublin 2, telephone 676 5500.
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