Freehold transactions

Question 1

what are the pre-exchange surveys that can be taken out?

Answer 1

1. Basic valuation- cheapest- is it worth the payment?
2. Homebuyer’s report- much more detailed- need more of a visual inspection.
3. Full structural survey- for older properties and ones that have been completely reconstructed. Look at materials that have been used and defects within the property. if it has had extensive renovations.

Question 2

what does caveat emptor mean?

Answer 2

let the buyer beware.