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Surveys and Valuations
Buy your home with confidence.
Buying a home will probably be the most important investment you will ever make. You should find out as much as you can about the property and the condition it is in before you agree to buy.
The best way to find out about any potential problems is to have a professional survey carried out. A property can look in tip-top condition to the layperson’s eye, but a professional assessment can reveal hidden problems. A thorough survey could prevent nasty surprises and unexpected costs at a later date. You may even be able to negotiate a better price for the property if the survey does reveal any problems.
Can’t I just rely on the mortgage lender’s valuation report?
The mortgage lender’s report simply ensures they are not lending you more money than the property is worth. The valuation will take into account the property’s age, general condition and location and will highlight obvious faults. However, valuations are very brief and sometimes only look at the outside of a property. Serious and less obvious faults may be missed.
How do I go about having a professional survey done?
For your complete peace of mind, Boulton & Cooper's’ professionally qualified staff can carry out a thorough survey of the property you wish to buy before you sign on the dotted line. To talk through the options available, please contact our Malton Office on 01653 602801, or email Helen Barclay.
The property I want to buy is under 150 years old, what survey should I have?
A HomeBuyer Report (HBR) is probably the best and most economical choice for you. HBRs are carried out to standards set by The Royal Institute of Chartered Surveyors and are usually suitable for younger, more conventional properties that appear to be in reasonable condition.
The HBR will assess the general condition of the property and highlight any significant or urgent defects or problems, such as damp, woodworm or rot, that may affect the property’s value. The HBR includes the valuation required by your mortgage lender.
To download a PDF describing the RICS HomeBuyer Report click here:>> HBR
The property I want to buy is older and more unusual, what survey should I have?
A Building Survey is your best choice if your property is:
- over 150 years old;
- constructed in an usual way;
- an unconventional shape; or
- extensively altered.
To visit our other offices click here : www.stephensons4property.co.uk
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