Pre-Acquisition

Question 1

What is a pre-acquisition survey and why are they undertaken?

Answer 1

• A survey undertaken by a prospective purchaser to a building or site.
• Understanding of the condition and design of the property.
• Suitability for proposed use.
• Identification of defects, required remedial works and associated costs.
• Identification of legislative compliance that affects the purchaser.
• Provides a basis for negotiation with vendor.