Domestic Building Surveys Domestic Building Surveys 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. Before you decide to go ahead and commit yourself legally, you can minimise the risks by asking a qualified surveyor to answer these questions… Is the agreed price reasonable? Are there any drawbacks or problem with the property that I don’t know? If so, what do I need to do about them? Commissioning your own survey is a simple, economical way to have these questions answered and avoid unpleasant – and perhaps costly – surprises after moving in. In some cases the surveyors report may enable you to renegotiate the price. Even if you are seeking a mortgage, and maybe paying for a Mortgage Valuation Report, it is still advisable and prudent to arrange a survey by your own surveyor – a view supported by the Consumers' Association, Which? Magazine and the Council of Mortgage Lenders. The reason for this is simple: The Mortgage Valuation Report is prepared for the lender, not for you! It answers only the lenders questions concerning the appropriate security of your loan – you cannot rely on it to answer the questions which concern your personal interests. RICS members offer two form of survey which are specifically designed to help homebuyers: BUILDING SURVEY (also known as a structural survey) A Building Survey is suitable for all residential properties and provides a full picture of their construction and condition. It is likely to be needed if the property is, for example, of unusual construction, is dilapidated or has been extensively altered, or where major conversion or renovation is planned. The report is tailored to meeting client’s individual requirement. The report can include extensive technical information on construction and materials, as well as details on the entire range of defects. THE HOME BUYER SURVEY AND VALUATION (‘The Homebuyer Service’) By contrast the homebuyer service is in a standard format and is designed specifically as an economy service. It therefore differs materially from a Building Survey in two major respects. It is intended only for particular types of homes: houses, flats and bungalows which are… Conventional in type and construction Apparently in reasonable condition It focuses on essentials: defects and problems which require urgent or significant and thus have an effect on the value of the property – although it does cover other valuable information. The ‘Homebuyer’, unlike a Building Survey, provides not only a survey but also has a valuation as an integral part of the service. >>> Back to Services Main Page
		For further information please complete our online Enquiry Form or call +44 (0) 1590 676879, or email us at info@sangersurveyors.co.uk