Buying a house is one of the most exciting investments you will ever make and we want to make sure your purchase lives up to those expectations and doesn’t turn into a nightmare.
But what exactly are the different types of surveys? We know it can get a little confusing, so here’s exactly what you need to know.
This is a brief report which includes our assessment of value taking into account the overall condition of the property and current market conditions. It is ideal in a wide range of situations where the value forms part of the financial portfolio planning. The property valuation report is ideally suited for:
- Inheritance Tax and Capital Gains Tax assessments
- Probate purposes
- Family property appraisals and planning
- Mortgage and bank lending security
HomeBuyer Survey & Valuation Report
This is a survey report popular with the majority of home buyers and is produced in a straight forward, easy to understand format under the regulatory umbrella of the Royal Institution of Chartered Surveyors (RICS).
This focuses on the main elements of the property, significant repairs and those matters requiring urgent attention. It is an ideal report to help you assess whether the property is a reasonable purchase at the agreed price, what actions to take before you exchange contracts and the repairs you will need to attend to once your purchase is complete. The report includes details of:
- The general condition of the property
- Any major faults including structural movement which are a threat to the fabric of the building and may affect value
- Urgent repairs which require further investigation and quotations before you make that financial commitment to acquire the property
- Results of damp tests to internal areas
- The condition of timbers highlighting any issues in regard to woodworm or rot
- The estimated re-building cost for buildings insurance purposes
- A market valuation of the property in present condition
Commonly referred to as a structural survey. This is the most comprehensive survey available. It provides an in-depth review of the condition and construction of the property within the report. This is detailed and can be designed around your particular concerns.
The report includes details of:
- A thorough and detailed overall assessment of the condition of the property
- Serious structural defects which affect stability and safety of the structure
- Faults both major and minor
- Essential repairs which require urgent attention
- Essential repairs which require further specialist investigation, perhaps requiring detailed quotations before you make a legal commitment to purchase
- General maintenance repairs
- Matters to be referred to your legal adviser
- General maintenance advice for sustaining and maintaining the condition of your property through your ownership
We know timescales will be very important to your plans. An inspection can normally be booked within a few days from receiving your instructions and the completed report forwarded to you following the inspection.
If you do have any further questions about our surveys, please give our survey team a call on 01900 821411