Homebuyers' Survey

A VALUATION IS NOT A SURVEY!

Since the downturn in 2008 property prices have rocketed then decreased a little, then risen again over the last few years so getting an exact valuation on your home or property can be very difficult at the best of times. This is not helped by the fact that the prices of properties available all depend on the region, county, towns or even the village in which it is situated. There are many circumstances which can have an affect on house prices nationally and locally, including local planning issues, how well the economy is performing and emerging infrastructure.

 With the use of our expert knowledge an accurate valuation will be carried out whilst making sure these factors are all taken into account so you can be assured your valuation is correct and reliable. Local knowledge is key to providing a reliable valuation. 


At Eyesurvey we always have our finger on the property price pulse, Please call us to arrange an appointment.

Is it a leaky pipe or something more?

When buying a home or property many of us can easily be caught up in the process perhaps missing very important details. This leads to us making decisions that are not quite thought out fully. This is where our experienced team can help you. We can offer a number of surveys from Conditional Reports to Building Surveys subject to how much information you need on the matter. So, this way any small issues that you may have breezed over when viewing a house will not affect you in the long run. Our team will tell you the difference between minor and major issues which could potentially save you thousands.

 

Whether you are a first time buyer, downsizing or buying a business premises, whatever the reason it can be difficult to decide what sort of survey to commission. Buying property is expensive so you don't want to pay more than you need for a comprehensive survey if it's not needed. You also don't want to have a basic survey to later find out something is wrong with the building that a complete survey would have found, but how to choose? This is where Eyesurvey can help you decide. There are three main levels of survey available from Chartered Surveyors. These are detailed below for your information.

1. RICS Condition Report

 

Based on a traffic light system, this report focuses on the condition of the property only and flags up any areas that need attention. It does not give advice or a valuation.

 

Suitable for: Fairly recently built, small properties, such as new builds or conventional homes in good condition that you're not planning to do any extensive work to.

 

2. RICS Homebuyer Report

 

This report is more detailed and gives you a valuation of the property. It includes an extensive inspection and highlights defects or anything which may affect the property's value with the traffic lights system, but the Homebuyer report doesn't look beyond the floor coverings, boards or behind the wall finishes, but does give advice on further inspections or investigations needed. Does include loft areas, damp checks, any signs of building movement found.

 

Suitable for: Most conventional properties built around 1900 onwards, in a reasonable condition and/ or on which you are considering small scale alterations but does not include advice on the alterations or extensions to be made.

3. RICS Building Survey

 

This survey gives an extensive inspection of the property condition including detailed information about the fabric of the property and its structure. The report also includes descriptions of visible defects and warns of potential hidden flaws together with an outline of additional investigations and repair options. 

 

Suitable for: Unusual, older or non-traditional buildings or those that have been significantly altered. Buildings that are conventional but in poor condition or that you are planning major alterations to - but does not include advice on the alterations or extensions to be made. If you are unsure if a Building Survey is what you need, please ask.

Below is an at-a-glance feature list to consider when choosing your report:

Do I really need a survey?

 

Of course, you could purchase a property without carrying out a survey, but may later find out the entire roof needs a complete rebuild, landing you with a bill of around £15,000. Consequently, once contracts have been exchanged, the vendor is then no longer liable. If you are paying £400,000-500,000+ for you next home, would you risk not having a survey carried out for the sake of around £500? It really isn't advisable.

Bad Advice on Home Surveys from the Daily Telegraph

 

On Saturday 18 October 2014, the Daily Telegraph published an article in “Property Doctor – Ask Jeff” on Home Buyers surveys for home purchasers. The Article contained a number of factual errors and ill-researched advice.

 

The article covered a question from a buyer who has just had an offer accepted and wished to know if he should pay for a “Home Buyer survey report”, or whether that would be a “waste of money”.

 

The RICS Home Buyer Report was introduced in 2009 and has proved very popular with consumers.

The article mentioned that:

1. “Surveyors rarely, if ever, took along a ladder to look in roof spaces”. RICS Guidance requires surveyors carrying out all three levels of surveys to use ladders where it is safe and reasonable to do so.

2. “Surveyors rarely open drains to check them”. RICS Guidance requires surveyors to lift drain covers, where that is safe and reasonable.

3. “Surveys are filled up with standard paragraphs”. Surveyors will use standard wording, if appropriate, in the interests of providing consistent, clear advice. Personalised text will naturally be provided as necessary, for that particular case. That is what word processors are for, and in turn helps the client.

4. It was suggested that “many readers” said they felt their Home Buyers surveys were a waste of money, and based on many errors and bad research, the article then advised every buyer to have a “full Building Survey” carried out.

Home Buyers should not always be advised to pay for a “full” Building Survey – some limits on inspection always exist, including what the property owners will allow or make possible, so no survey can ever truly be “full”. It is incorrect and misleading to suggest otherwise.

 

The extent of what is, and what is not, normally done in each case must be explained. That must be made clear in the written Terms & Conditions of Engagement, provided before the job is accepted and the inspection carried out.

If some otherwise usual part of the inspection is not found practical or safe to do, it must be made clear to the client. It will not normally be appropriate in the case of a new or very recent building to advise that a Building Survey is the right format to be carried out.

 

A Home Buyer's Report may offer the client better value for money than a Building Survey, if the building is recent or straightforward, and without complex alterations or extensions. The buyer does have a choice and it is the surveyor's responsibility to advise the client of the options and to guide them according to the circumstances.

Homebuyers' Survey News

A home buyers’ survey or homebuyers’ report as it is often referred to will tell you about any obvious major problems with the house such as rot, damp or subsidence etc. 

 

A home buyers’ survey includes a valuation of the property and a reinstatement value for insurance purposes. With this type of survey, the inspection is non-intrusive and non-destructive. It is a visual inspection which means no drilling holes, looking under floor coverings or moving furniture etc.

For most of us at some point in our lives it will be time to buy your first house or property or you wish to move out of your current house due to several different reasons. So, if you are thinking of buying a standard property or one that has been built relatively recently then a Home Buyer’s Survey will be the right one for you. However, if the property you are hoping to purchase is older then our friendly staff will suggest another property survey more suited to your needs. After all we strive on giving our customers the best service possible. For an informal chat about your requirements, please call us today.