If you are buying a new home you will be faced with a number of options regarding surveys on the property. Standard home buying surveys carried out by surveyors are an important part of the purchasing process, but they won’t always tell the whole story. Typically, standard surveys will note common asbestos materials but they won’t provide you with any details on the condition or the cost that could be involved in dealing with the asbestos.
This means that many homebuyers opt for a pre-purchase asbestos survey to check in further detail about the potential asbestos-containing materials found at the property. However, these sorts of surveys are most often associate with larger, older properties. But if you are buying an apartment you may be confused as to whether you need one.
When buying a flat it is important to recognise that aspects of the property that are managed by the freeholder (such as exterior of the building as well as internal hallways outside of your flat) are required to have an asbestos management plan. This will detail the asbestos and asbestos-containing materials in these areas of the building.
However, the internal contents of your flat are yours to manage and if asbestos is found here you will need to take your own steps to manage or deal with it. An asbestos survey will identify any asbestos on your property and can provide you with the details of any remedial work that might be required.
As these works can end up being a significant expense it is important to have this survey carried out before you commit to the purchase. If you find that you will have to put in money for remedial works, this could affect the purchase price.
Published 11th December 2020