SURVEYS & VALUATIONS

Purchasing a property is one of the largest financial commitments that we are ever likely to undertake, and I can therefore only advocate that one be carried out prior to exchanging contracts by a Chartered Building Surveyor. Surveys are designed to give you the information you need to make an informed and sensible property purchase, whilst at the same time allows you the flexibility of possible re-negotiation of the asking price.

Click here to see the RICS advice sheet "Choosing Between Surveys" for help on which service you require.

If you would like a quotation for a survey by email, please complete the form. We will respond to your request within 24 hours. Alternatively, please contact us by telephone on 01932 820 374. We will be happy to provide you with a quotation and give further advice on which survey is most appropriate for the property you are considering buying.

If you would then like us to proceed with the survey inspection, we will arrange access with the estate agent or vendor to inspect the property and write to you to confirm your instructions. After the inspection has been undertaken we will send you two bound copies of the report within 5 working days.

There are three main types of residential survey available:

1. Valuation

A limited inspection to check that the property is worth the amount being paid and to identify any problems that could affect the security of the loan. Generally these are arranged by and on behalf of the mortgage lender. You cannot therefore rely upon a Valuation Report to answer the questions that only a more detailed building survey by a chartered surveyor will provide.

2. RICS Homebuyer Survey and Valuation Report (HSV)

These reports provide considerably more detail than a Valuation Report and focus on highlighting if a property suffers from significant defects that require urgent attention. The HSV is a service carried out to a standard format defined by the Royal Institution of Chartered Surveyors (RICS).
The purpose in providing this economical service is to assist the prospective homebuyer to:

1. Make a reasoned and informed judgement on whether or not to proceed with the purchase. 
2. Assess what would be a reasonable purchase price for the property. 
3. Be clear what decisions and actions should be taken before contracts are exchanged.

The Report also contains an opinion on the amount the property should be insured for and is ideal for properties of conventional construction that have not been extensively altered, and are generally less than 80 years of age.

3. Building Survey

Building Surveys (formerly known as structural surveys) are a specialist report on the construction and condition of a building. The purpose is to discover the nature of existing or potential defects and to provide advice on how to overcome any problems. These are comprehensive reports providing detailed advice regarding the construction and condition of a property, highlighting both small and significant defects. A building survey can be as in-depth as you want and can be tailor-made to suit you and your property.

Tel: 01932 820 374 | Fax: 01932 821 671 | Mobile: 07957 323 145
Email: info@jlewissurveyors.co.uk © 2009 JAMES LEWIS SURVEYORS LTD
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