Surveys

Valuation surveys are suitable in a range of circumstanses where a more in depth survey is not required. These include:

✓ For home buyers who want a value for a cash purchase with no mortgage

✓ On behalf of solicitors wanting a retrospective valuation from a RICS Registered Valuer when considering taking action in cases of potential negligence against valuers who overvalued during the property boom of 2006-2007

✓ In matrimonial cases needing a value of assets that are to be shared out

✓ A value for inheritance tax or capital gains tax

✓ For Housing Associations or Shared Ownership schemes

✓ On behalf of relocation companies

The RICS Homebuyers report aims to give you professional advice to help you to make a reasoned and informed decision on whether to go ahead with the purchase of a property taking into account of any repairs or replacements the property needs. The report also points out what further advice you should take before exchanging contracts.

It contains:

✓ The surveyor's professional opinion on the 'Market Value' of the property

✓ A insurance reinstatement figure for the property

✓ A list of problems that the surveyor considers may affect the value of the property

✓ Advice on repairs and ongoing maintenance

✓ Issues that need to be investigated to prevent serious damage or dangerous conditions

✓ Legal issues that need to be addressed before completing your conveyancing; and

✓ Information on location, local environment and the recorded energy efficiency (where available).

Often called a "Full Structural Survey", a building survey is a comprehensive report on the existing building, its current condition, and its likely future maintenance requirements. 

It is designed to tell the purchaser exactly what they need to know to protect themselves against defects and items of disrepair that may not come under a general buildings insurance policy.