| Should
I obtain a survey? |
A property,
in most cases, will be the largest single purchase
a person will make. It therefore makes good sense
to find out more about it before being committed
to it.
If there are any defects, it could
be expensive, even very expensive, to put them right.
You the new owner will have to foot the bill. If
you have been wise and had a survey, that has made
you aware of the defects, you will then have the
opportunity of taking the appropriate action. In
some cases the surveyor’s report may enable
you to re-negotiate the price. |
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| What
about a mortgage valuation report? |
If
you are buying a property with the assistance of
a mortgage, the lender will probably obtain a mortgage
valuation report to confirm that the property offers
reasonable security for the loan. The valuation is
solely intended to satisfy the requirements of the
lender – NOT THE BUYER. It provides brief details
based on a limited inspection. Even if you receive
a copy of it, it is not sufficiently detailed to
provide you with enough information upon which to
base a decision to proceed with the purchase.
Both
the Consumers Association and the Council of Mortgage
Lenders agree that it is advisable and prudent to
arrange a survey by your own surveyor.
Remember, a mortgage valuation is not
a survey. Spend a little more now and you could save
a great deal later. |
|
| The
Homebuyer Survey & Valuation |
The
survey is based on a standard format drawn up by
the Royal Institution of Chartered Surveyors.
It is suited to many 20th Century properties
which are of conventional type and construction.
Munton & Russell will be able to advise during
the preliminary discussions as to whether this survey
is suitable for your proposed purchase.
The Homebuyer Survey does not go into
minute details but provides a wide ranging and concise
appraisal of the property. It also includes an open
market valuation and an estimate of the reinstatement
cost for insurance purposes. |
|
| EPC’S
- Energy Performance Certificate |
As
of 14th December 2007, all properties being sold
must have a Home Information Pack (HIP). From October
2008 this also applies to all Lettings.
Part of this pack contains an EPC.
We have our own qualified energy assessor available.
For further information and to book
an appointment
Email: property@muntonrussell.plus.com or Telephone: 01775 722475
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