Anyone who is in the market for property would do well to remember the well-established legal maxim caveat emptor, or "let the buyer beware''.

As purchaser, you will be acquiring the property, whether it is a condominium or a house, in the state that it is in at the time that you make the offer to purchase. The assumption in the Sale Agreement is that you have full knowledge of any problems associated with the property, and this means that there is no comeback on the seller for problems that may be discovered later.

Consequently, you should consider ordering boundary and structural surveys of any property that you are considering purchasing. The boundary survey will ensure the boundaries of your land are marked out on the ground in accordance with your title deeds to the land. A structural survey will require a surveyor to report on the condition of the property.

If you are purchasing the property with the assistance of a mortgage, you may mistakenly believe that, as your lender has requested a valuation survey, the surveyor will also be doing the job for you.

But the lender is only ordering a valuation survey to satisfy itself that the amount it is lending on the property is appropriate. As buyer, you cannot rely on such a survey even if you discover later that the valuation surveyor has made a mistake about the value or condition of the property.

For all of those reasons, we advise buyers to be more certain of what they are buying by obtaining a survey of the condition of the property before they actually commit to purchase it.

To ensure that you do not spend money on a survey, only to have the seller sell the property to someone else, we advise that the Sale Agreement be entered into conditional upon you obtaining a survey that you are happy with.

The seller will likely only give you a two-week period, after the signing of the Sale Agreement, to obtain such a survey. The Sale Agreement should give you the option of going ahead with the purchase, or backing out of the deal and having your deposit returned, depending upon whether you are happy with the survey results.

Buying a Condominium Should you decide to buy a condominium, you will be charged a monthly maintenance fee by the condominium association for the maintenance and repair of the development's buildings and grounds. These fees normally range from $400-1200 per month in Bermuda.

The condition of the actual condo itself, the building in which it is located, and the surrounding gardens and parking areas, will assist in determining what the monthly maintenance fee will be. Again, you should consider having a survey done of the condo and the building in which it is located.

You, or your attorney, should also ask the seller or condominium association whether any major capital expenditure is anticipated in the next year. If so, the monthly maintenance fee may be increased. Of course, such information will also help you to identify any repair problems that the condominium association is planning to remedy.

Remember that no survey will guarantee to reveal all defects. Some faults may be completely hidden from the surveyor when he or she inspects the property; for example, faulty drainage or termite infestation.

If you hire a surveyor, make sure that he prepares a new plan of the property or stakes out its boundaries.

Boundary disputes can be a great source of anxiety for you as a homeowner, but can be avoided if boundaries are identified before you buy a property.

As there is no land registry in Bermuda, property is sold by reference to a plan and a description, which sets out how many feet/metres each boundary measures.

However, it is important that the boundaries of your property be clearly marked on the ground as well, especially if there are no permanent features, such as walls. The boundaries should therefore be staked in accordance with the latest plan in the deeds to the property.

We recommend to buyers that a seller be obliged, in the Sale Agreement, to employ a surveyor to stake out the boundaries.

Should there be a difference between a description of a property in the deeds, compared with the boundaries staked on the ground, it will be have to be resolved with the seller, if possible. Potential solutions include an adjustment in the purchase price, if more or less property is to be conveyed, or a realignment of the boundary with the neighbouring owner.

Remember that your home is often your greatest asset and your mortgage is likely your largest debt. The hiring of a surveyor will help you to identify problems at the outset so that you are able to make an informed decision about whether to proceed to buy your home.

Attorney Georgina Simpson is a member of the Property Department at Appleby Spurling & Kempe. Copies of Ms Simpson's columns can be obtained on the Appleby Spurling & Kempe website at www.ask.bm.

This column should not be used as a substitute for professional legal advice.

Before proceeding with any matters discussed here, persons are advised to consult with a lawyer.

BUSINESS BUC