SURVEYS

Why do I Need a Survey?

Buying a house is likely to be the largest single investment that most people make. Properties are not only expensive to buy but can be expensive to repair. The best way to decide on such an important investment is to have a professional survey carried out. To do without a survey may well prove to be a false economy as it could easily save you money if faults are revealed which enable you to renegotiate a price reduction. Indeed, if the house is poor value for money or requires substantial repair and maintenance, it may prevent you from making a serious financial mistake.

A survey undertaken by a chartered surveyor gives you a professional opinion about the property you are thinking of buying. Obtaining your own survey is a simple, cost-effective way of avoiding unpleasant (and often costly) surprises after moving in but you need to choose the type of survey most appropriate to your needs.

What Type of Surveys are available?

Standard Valuation

This is not a survey, it is a property inspection undertaken to provide an opinion on the Market Value of the property and is equivalent to a report provided for financial institutions including building societies and banks for loan security purposes. The inspection is limited and as a buyer you should not rely solely on the information provided by a standard valuation when deciding whether or not to buy a particular property. Most banks and building societies state within their terms and conditions that the standard valuation should not be solely relied upon and advise that you obtain an independent survey. This is reinforced by many legal representatives who also advise clients to have an independent survey prior to a legal commitment to purchase.

The principle benefit to this type of report is that it confirms the purchase price is reasonable and identifies any obvious defects, which may affect valuation. It is typically used for a variety of purposes including lending, probate valuations, matrimonial settlement valuations, taxation and relocation.

The Homebuyer Report

Intended for conventional, residential properties e.g. houses, flats and bungalows, which appear to be in a reasonable condition and have not been subject to significant alterations since construction. The report is written in a standard format and is around 10 pages in length. It is more comprehensive than the standard valuation and identifies significant or urgent repairs which may affect the value of the property, so far as these are visible and access is obtainable. Because of the practical limits on the type of property and the scope of its coverage, the Homebuyer Report is mid-range in price and represents good value for money.

This type of report designed by the Royal Institution of Chartered Surveyors is particularly suited for properties constructed since about 1900 although it may be appropriate for many Victorian properties, especially those of conventional type built during the latter part of the 19th century. The reports are laid out in an easy to read document prepared in accordance with the RICS Appraisal and Valuation Manual.

As a prospective buyer, this report will enable you to make an informed decision on whether or not to proceed with the purchase and assess whether or not the property is reasonably priced. It will also assist you to identify what decisions and actions should be taken before contracts are exchanged.

Building Survey

Often referred to as a "structural survey", or a "full survey", this is a visual survey, appropriate to all building types and provides a full picture of their construction and condition. It is more comprehensive than a Homebuyer Report and does not follow a fixed format. It is likely to be needed if the property is, for example, of unusual construction, dilapidated, has been altered or where a major renovation or conversion is planned.

A Building Survey aims to provide maximum confidence and assurance and is the most detailed of our standard reports.

We get to all parts that we can reach from the ground floors, fixed stairs or other vantage points. The surveyor will carry a ladder and will open all available/known access hatches and traps and manholes etc. that can be accessed safely. You will get detailed comment on construction, technical advice on problems and recommendations on remedial work. Photographs are included. Post report consultation is available if you have a query.

As with all standard surveys tests on services are specifically excluded although general observations will be included. We can arrange specialist testing of services, drains etc. as an chargeable upgrade where these are required. A valuation can also be included within a building survey as an optional extra if required.

Choosing Between Surveys

Click on the link below to view information from the RICS about surveys and other issues relating to buying or selling

Click on the link below for information on choosing the right type of survey

Survey & Valuation Fee Quotation

Click on the link below to complete our survey and valuation fee quotation form