Bank survey and professional insurance

penguin00

Im not sure if this is the correct place but move it if necessary!

Im buying a second hand house and the bank need a professional arch or engineer to inspect the house not a snag list more a survey of the buildings soundness I suppose. Im a Civil/Structural engineer can I do this work myself with out my own Professional Indemnity Insurance?

Thank You in advance hopfully.

The Engineering Penguin.

Johnniep

Banks generally have a list of pre-approved engineers who can carry out this work, but almost certainly will not allow it to be carried out by anyone without insurance I am afraid!

Irjudge1

No afraid not.

First of all the bank wouldn't let you do it if you are an interested party in the purchase as your professional independence is compromised.

Secondly the engineer must have PI so the bank has some way of recouping loss if the building has problems post purchase.

penguin00

ah thanks lads for the quick reply!
:mad:
Fork out for this now, as an interest around how much would an engineer with pi cost? and how much does P.I cost for that kind of work roughly?

Irjudge1

Your lookin at between €250 and €450. Big differnce I know but the more experienced guys will charge around the higher figure for a three bed semi which gives you a full report on the building.

godtabh

How old is the house?

If you are a civil engineer you will work with some one or know some one who can do this on the cheap. I got my mates to help me out with stuff with things like this. Ask the lads who you think can do a job for you

Dundhoone

Unless someone has there own practice they wont have the required PI.