Homebuyers' Survey

A VALUATION IS NOT A SURVEY!

Since the downturn in property prices in 2008 and subsequent price rises our team here at Eyesurvey know that it is increasingly difficult to know exactly what your home or property is worth. With the prices rising and falling month on month it’s tricky to predict. Also depending on what region, county, town or even village you live the prices vary hugely from one house to the next. Factors also effecting the price of a property include local planning, transport links, new build housing, any emerging infrastructure, nearby school catchments and many more.

 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.


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WE COVER ALL ESSEX AND SOUTH SUFFOLK POSTCODES, IP, CO, CM, SS, RM & IG

 (IPSWICH, COLCHESTER, CHELMSFORD, BRAINTREE, SOUTHEND, ROMFORD, ILFORD, ETC.)


Is it a leaky pipe or something more?

Our team here at Eyesurvey are able to offer Building Surveys or Condition Reports depending on the level of detail you require. It doesn’t matter if your buying a property for the first time or the fifth it is still extremely easy to miss out small but very key details that may have repercussions later on. We know what is a major issue and what isn’t and can pick out the smallest of details that you may have not noticed. This means that when carrying out a survey on a property nothing will be missed.

 

It doesn’t matter if you are downsizing, buying a property for business purposes or are a first-time buyer it is always difficult to decide on which survey would be best to carry out. Now that property prices have spiked again many people overpay for a comprehensive survey when that money could be used for something else. However, you do not want a cheaper survey that misses out a fault within the property that later causes you problems. To help our customers with this there are three main surveys that our company carry out, the details for each are listed below.

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.