If you are obtaining a mortgage, a valuer will inspect the property on behalf of the lender. Although this report should give you an indication as to whether they think the property is worth the amount that you have asked to borrow, it is prepared for the mortgage lender not you. For an additional fee, you will usually be offered the option to arrange for the same valuer to carry out a more detailed report. This can be relied on if, at some later date, you discover a problem not mentioned in the report that you wish to take up with the valuer.
There is a golden rule when it comes to buying a property: ‘Caveat Emptor’ – “let the buyer beware” so, provided you have not been misled, you will be the one liable for any problems you discover after the exchange of contracts and on moving in to the property.