Homebuyer Survey and Valuation

As one of the leading firms of Chartered Surveyors, we have established residential departments and a network of offices nationwide. Our local expertise enables us to advise on all aspects of house purchase and sale, from basic mortgage valuation to a detailed Building Survey - usually undertaken in conjunction with our Building Surveyors. We act for all major Building Societies, Banks and Lending/Financial Institutions.

We will be pleased to discuss and advise on the type of survey required at the time of instruction.

1. MORTGAGE VALUATION REPORT

(SCHEME 1) (normally instructed by the purchaser or their lender)
1.1 This is a valuation only and not a survey. It is the most limited form of inspection. It is intended solely for the purposes of arriving at a mortgage valuation to enable a lender to determine the amount of any advance. We reserve the right to make the mortgage information available to other prospective borrowers/lenders.

1.2 This valuation is not a detailed inspection of the property. Any major defects which are visible and apparent at the time of inspection which have a material bearing on the value will be reported on. Subject to reasonable accessibility the roofspace is inspected only to the extent it is visible from the access hatch without entering; common roofspaces will not be inspected. Cellars are also inspected to the extent that they are reasonably accessible but underfloor voids are not inspected. Floor coverings will not be lifted nor will furniture and effects be moved. The exterior of the building, including roof coverings, will be inspected from ground level only. For the purposes of arriving at our valuation these inaccessible areas will be assumed to have no significant defects. None of the services, water systems, heating or electrical circuits will be checked or tested. This report therefore must not be treated or relied upon as a detailed report or survey on the existing or future condition of the property. If such a report is required then a more detailed Homebuyer Survey and Valuation (Scheme 2) Inspection should be instructed.

2.HOMEBUYER SURVEY AND VALUATION

(SCHEME 2): (normally instructed by the purchaser)
2.1 The survey and valuation report provides a more detailed report and will assist in making a reasoned and informed judgement on whether or not to proceed with the purchase, to assess at what price it would be reasonable to purchase the property and to be clear what decision and action should be taken before an offer to purchase is concluded. The survey and valuation therefore provides a report on the general condition of the property and features which affect its value and may affect its future re-sale. The report will focus on matters which we judge to be urgent and/or significant. Significant matters are defined as matters which could reasonably be expected in negotiations over the price to be reflected in the amount finally agreed.

2.2 The inspection is a general surface examination of those parts of the property which are accessible, i.e. visible and readily available, for example an examination from ground and floor levels without risk of causing damage to the property or injury to the surveyor. As such therefore the inspection is limited due to concerns regarding safety, practicality and the constraints placed by virtue of the property being occupied. Furniture, floor coverings and other contents are not moved or lifted, no part of the building is forced or laid open to make it accessible.

3. BUILDING SURVEY

(SCHEME 3):
This is the most detailed type of inspection and generally should be undertaken by a building surveyor. It is uncommon for this type of inspection to be requested in Scotland due to the limited period available under the current house purchasing system which in most instances will not allow sufficient time to carry out the inspection. This is a very detailed report, the inspection takes several hours and may involve some disturbance to the building itself. The surveyor will examine closely the structure and condition of the building and in order to prepare this type of report may wish to consult outside contractors and plumbers, electricians and those engaged in timber preservation. Our firm employs a number of building surveyors who will be pleased to undertake this type of inspection.

4. VALUATION FOR OTHER PURPOSES

(SCHEME 4):
There are a number of occasions when clients require valuations for other purposes such as Taxation, Pre-sale or Matrimonial. A detailed inspection is not normally required and therefore the valuation will be a mortgage valuation report (Scheme 1) as defined earlier in this brochure. Fees for building surveys should be arranged specifically and discussed with us prior to finalising our instructions.

Full details of our services are described in our brochure ‘Guide to House Surveys and Valuations’, outlining the type valuations: Scheme 1 (Mortgage Valuation Report), Scheme 2 (Homebuyer Survey and Valuation, Scheme 3 (Building Survey), Scheme 4 (Valuations for other Purposes such as Court proceedings, Tax and Insurance purposes).

As one of the leading firms of Chartered Surveyors, we have established a residential departments and a network of offices nationwide. We understand that speed is vital in the Residential market. We ensure that a thorough inspection of the property is carried out at the earliest opportunity to meet the client’s requirements.

Our residential team will be happy to discuss any query arising.