|An Attractive Bungalow...|
Do you know if it has
any serious problems?
Why do I need my own survey?
The best way to reach an informed decision on such an important investment as a home is to have a professional survey and valuation of the property which interests you. Before you decide to go ahead and commit yourself legally, you can minimise the risks by asking a Chartered Surveyor to answer these questions for you:
Commissioning your own survey is the simple, economical way to avoid unpleasant - and perhaps costly - surprises after moving in. In some cases, the surveyor's report may enable you to renegotiate the price.
- Is the agreed price reasonable?
- Are there drawbacks I don't know about?
- If so, what do I need to do about them?
If you would like us to carry out a survey on your behalf, please complete our simple Survey Enquiry Form.
I already have a Mortgage Valuation...
Even if you are seeking a mortgage - and may be paying for a Mortgage Valuation report - it is still advisable and prudent to arrange a survey by your own surveyor. The Consumers' Association Which? magazine and the Council of Mortgage Lenders both give this advice.
The reason is simple: the Mortgage Valuation report is prepared for the lender - not for you, the borrower. It answers only the lender's questions to determine if the property is adequate security for the loan. Little will be said about the condition of the property. You cannot rely on it to answer the questions which concern your personal interests.
What choice of surveys do I have?
We offer two main types of report specifically designed to help homebuyers. In both cases we will look at all reasonably accessible parts of the property, internally and externally (from ground level or publicly accessible areas). Roof spaces will be entered where safe and practicable. An overall impression of services will be given, but they will not be tested unless specifically requested. The surveyor’s opinion of the current open market value will normally be included.
The surveyor's main objectives in providing these reports will be to assist the prospective purchaser to:
The surveyor will also give his or her professional opinion on the particular features of the property which affect its present value, and may affect its future resale. Download our Guide to Independent Surveys (PDF 125kb).
- make a reasoned and informed judgement on whether or not to proceed with the purchase
- assess whether or not the property is a reasonable purchase at the agreed price
- be clear about what decisions and actions should be taken before contracts are exchanged.
1. Building Survey
A Building Survey, formerly known as a Structural Survey, is suitable for all properties, regardless of age, and provides a more detailed picture of their construction and condition. It is likely to be needed if the property is particularly large, is of unusual construction, is dilapidated, or has been extensively altered. The report can be tailored to the client's individual requirements, such as when a major conversion or renovation is planned. It will include more detailed information on construction, condition and building materials than a Home Buyer Report.
Click to see our Scale of Fees
2. Home Buyer Report and Valuation
The Home Buyer Report is prepared in our own standard format, by a Fellow of the Royal Institution of Chartered Surveyors (RICS). It includes an optional valuation, and aims to provide a cheaper alternative to the more detailed Building Survey Report. It differs materially from a Building Survey in that:
1. It is intended only for particular types of home: houses, flats and bungalows which are:
2. It focuses on essentials: defects and problems which are urgent or significant, or which have a material effect on the value of the property.
- not too large or old
- conventional in type and construction
- apparently in reasonable condition.
However, where the client has a particular requirement, the surveyor may also be able to provide an extra service which is beyond the scope of the standard package – perhaps by providing a schedule of minor defects, or room sizes.
|A Prefabricated House|
This would not be
suitable for a
Home Buyer Report
Click to see our Scale of Fees