Services:

Surveys and valuations

There are three main types of surveys or valuations that you are likely to require:

 

Valuation report;

A valuation is an inspection carried out on either your behalf or that of a mortgage lender. A valuation is not a survey and is a limited inspection which identifies only those problems that affect the value of the security. When acquiring a property it is likely that a prospective purchaser would require a more detailed report than that within a valuation.

 

Homebuyer Report (HBR);

An HBR is a concise report that is carried out in a standard format as designed by the Royal Institution of Chartered Surveyors (RICS) and is suitable for properties built within the last 150 years or so, which are in apparently reasonable condition and conventional in type and construction. However, it is not a detailed survey of every aspect of the property.

It focuses on significant and essential matters of which the following will be included:

    • The general condition of the property and any significant defects which may affect its value and future resale.
    • Urgent and significant matters that need assessing before Exchange of Contracts, including recommendations for any further specialist inspections.
    • Particular points which should be referred to a legal advisor.
    • The market value of the property.
    • The recommended rebuilding cost for insurance purposes.

The HBR is priced mid range and is more expensive than a valuation but less than that of a Building Survey.

Building Survey;

A Building Survey is a comprehensive report suitable for all properties, but particularly older ones, those in apparently poor condition, any constructed in an unusual way or those requiring renovation or extensive alterations. A Building Survey involves a detailed examination and reports on all accessible parts of the property and can also be tailor made to suit individual needs or concerns.

It will include the following:

    • Major and relatively minor faults.
    • Results of testing walls for dampness and evidence of damage to timbers including woodworm and rot.
    • The implications of any defects with advice on those matters which should be dealt with as a priorty.
    • Recommendation of any further specialist inspections.
    • Technical information on the construction of the property.
    • Illustrative photographs where appropriate.