BUYING A PROPERTY?
ARE YOU SURE OF ITS CONDITION?
ARE YOU GETTING VALUE FOR MONEY?
IT MAKES SENSE TO HAVE THE RICS HOMEBUYER SURVEY AND VALUATION
FOR FURTHER DETAILS AND A FEE QUOTATION CONTACT OUR QUALIFIED CHARTERED SURVEYOR
MR JAMES SMITH ON 01775 722475
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 approparate action. In some cases the surveyor's report may enable you to re-negotiate the price.
What about a Mortgate 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 avisable and prudent to arrange a survey by your own surveyor.
Remember, a mortgate 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.
The surveyor's main objective in providing the service is to assist the prospective home buyer to:
The cost of the report will depend on the size and type of the property, its location and value.
Please contact Munton & Russell for further details and a fee quotation.
Munton & Russell are an independent firm of Surveyors and Valuers. We are neither owned by nor a subsidiary of a corporate organisation such as a bank, building society or insurance company. Our surveyor is both RICS and ISVA quyalified. Our surveyor will be acting for you and nobody else and will give you a totally unbiased report tailored to your specific needs and offer independent advice upon which you can base a decision, uninfluenced by any external considerations.
Remember, apart from your solicitor, all the other people you deal with during a house or other property purchase have a financial interest in making sure that the sale and purchase go through.
An independent survey is essential.