The R.I.C.S. Homebuyer Survey & Valuation Report

This report is an inexpensive alternative to the building survey. It uses a standard format and is suitable for most properties of conventional construction. Very large or old properties and those of unusual construction, such as an old timber frame cottage or a converted barn, are unlikely to be suitable. The format is designed to be easily understood and, like all reports from ABS Surveyors - it is written in plain English. It highlights the relevant matters, particularly in respect of condition, which in the opinion of our surveyors influence the value of a property. The report will cover: Description of the construction The general condition of the property Whether or not the agreed price is reasonable Particular features which affect value or future resale

The HomeReport Building Survey

A building survey - often known as a structural survey - provides all the information contained in a Homebuyer report and in addition: Describes the construction in greater details Identifies the defects, explains the possible causes and the repairs required Gives advice on future maintenance Includes photographs of defects and other appropriate areas The HomeReport Building Survey provides a full picture of the construction and condition of a property. Although suitable for all types of property it is recommended if a building is old, of unusual construction or just large.

Residential Valuation Report

A valuation report can be required for a number of different reasons. The Mortgage Valuation - required by a bank, building society or other lending institution, to establish the value of a property before a loan is advanced, is the most commonly used. It is prepared for the lender to make sure that it will get its money back if you stop paying for the loan and the property has to be sold. It answers questions important to the lender before making its lending decision but not necessarily for you in making your decision to purchase. Tax, probate and separation / divorce are others. The inspection is, by comparison with a Homebuyer or Building survey - limited. It is only sufficient for the valuer to make a general assessment on condition and whether there are any obvious visible defects that could have an effect on value. The purpose of the report is to establish the value of the property only.

The Cost

The cost of a survey is negligible when compared to either purchase price of your property or the amount you could pay for structural repairs which come to light after you have moved in.