Within the current system, if my client pulls out of the purchase, the house remains on the market and will probably go on to be sold without being surveyed, given that only 20% of housebuyers actually commission a survey.
With the new HCR in place, should I encounter such a property and report these unfavourable findings to the owner, it is highly unlikely that they would pay for such a report. They would probably commission further reports until they found a surveyor who overlooked the problems.
What's more, according to the RICS, there are about 3000 surveyors undertaking surveys currently, and this will need to increase to about 10,000 in two years when this system comes in.
Jeffrey Elliott, Elliott Project Development, Warks.