Choosing between surveys
Why do I need my own Surveyor?
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 which interests you. Before you decide to go ahead and commit yourself legally, you can minimise the risks by asking a qualified surveyor to answer these questions for you:
• Are there drawbacks I don’t know about?
• If so, what do I need to do about them?
Commissioning your own survey is the simple, economical way to avoid unpleasant--and perhaps costly--surprises after moving in. In some cases, the surveyor's report may enable you to renegotiate the price.
I already have a Mortgage Valuation report....,
Even if you are seeking a mortgage--and may be paying for a Mortgage Valuation report--it is still advisable and prudent to arrange a survey by your own surveyor. The Consumers' Association Which? magazine and the Council of Mortgage Lenders both give this advice.
The reason is simple: the Mortgage Valuation report is prepared for the lender--not for you, the borrower. It answers only the lender's questions concerning the appropriate security for your loan. You cannot rely on it to answer the questions which concern your personal interests.
What choice of surveys do I have?
We offer two forms of survey which are specifically designed to help homebuyers:
A Building Survey
(formerly called 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 their property is, for example, of unusual construction, is dilapidated or has been extensively altered - or where a major conversion or renovation is planned. It is usually tailored to the client’s individual requirements. The report includes extensive technical information on construction and materials as well as details of the whole range of defects, major to minor.
The Independent Surveyors and Valuers Association have developed a form of intermediate report which we consider is more appropriate than the revised RICS format. It is known as a HomeSurvey and provides a detailed summary of condition.
This report format has been available from 26 March 2010. You can download a copy of the Terms and Conditions which will give you a good idea of the nature and extent of the inspection. This is a new venture that has been organised by ISVA who represent nearly 600 independent chartered surveyors in England and Wales. Roger A. Wilkey FRICS was Chair of the working party who devised the report format and he would welcome comments or suggestions for improvement.
If you would like a quotation for a building survey of a particular property, please click here Alternatively, click here to download a leaflet which sets out our standard terms and conditions for a building survey. Click here to obtain a copy of the Term and Conditions for a HomeSurvey