isurv

Vendor surveys

Vendor surveys

This section outlines the processlimitations, and key legal issues surrounding vendor surveys.

A ‘vendor survey’ is the term commonly used to describe a pre-acquisition survey commissioned by a vendor for an asset in the divestment stage of its ownership cycle. The vendor survey is commissioned and funded by the vendor for the benefit of an eventual purchaser.

Vendor survey reports are rapidly becoming the norm in commercial property transactions, but have not been widely accepted in the residential property market. As such, the information covered in this section relates to commercial property vendor surveys only.

This section is maintained by Chris Gibbons of Tuffin Ferraby Taylor LLP.