Homebuyers Survey and Valuation
Surveys are a kind of ‘health check’ for buildings. If you’re buying a property, you should have a survey done before you enter into a contract – or before making an offer, if you live in Scotland.
A survey can actually save you money. If there are serious structural problems, you can often re-negotiate the sale price of the property to reflect the cost of necessary repairs – or you may even decide you don’t want to buy it at all.
Your surveyor will report on all the parts of the property they can easily reach. They don’t inspect under carpets or furniture, and they don’t test the water supply or wiring – though they’ll comment on their condition.
There are two main types of survey, a Homebuyer Survey and Valuation (HSV) and a Building Survey.
Keep in mind when you buy a home, you want independent advice, giving you the detail you need. A valuation from a mortgage lender may be free, but it only really tells you whether the house is worth the money they’re prepared to lend you. A survey from an RICS member will tell you a great deal more, and could save you thousands in the long run – especially in older properties, or when you want to make alterations.
What can you expect from a survey?
If you’re about to buy a property, you may have specific worries about the building you’re going to buy. Talk them through with us – we’ll be happy to discuss your particular concerns in more detail and help you decide which type of survey is right for you.
If you’re interested in making structural changes to a property, or you think there may be a damp or dry rot problem, an RICS member will be able to advise you about this too – or detect any faults that may cause problems in the future.
Our reports are totally independent and designed to help you make a more informed decision. Costs vary according to which type of survey you have, but both Homebuyer’s Survey and Valuation Reports (HSV) and Building Surveys can offer reassurance and real peace of mind.