Buying and selling a home is a huge process and at times, the sheer amount of work involved can get somewhat overwhelming.
One of the most important things you need to do is to get a survey. In fact, it is unlikely you will be granted your mortgage until the correct type of survey has been carried out.
Surveys give you an idea of the state of the property, highlight any issues and can save you money further down the line if you need to make repairs. It can also provide a bargaining tool should the results throw up any unexpected repairs needed and how much it will cost.
- Surveys must be carried out by qualified surveyors
- Most qualified surveyors are members of the Royal Institute of Chartered Surveyors (RICS)
- RICS qualified surveyors carry professional indemnity insurance.
- A local surveyor may have a better knowledge of market values in the area
- If you are buying an unusual house, like a listed building or a castle, get a surveyor with experience in that specific field
- Costs vary from company to company, and depend on the size and location of the property
There is more than one type of survey to choose from. Most surveyors provide three types of survey: a condition report, a HomeBuyer’s report and a building survey. Here is a rundown of what they have to offer.
The Royal Institute of Chartered Surveyors (RICS) provides a basic template for each of these surveys, and most surveyors who are registered with RICS will adapt the templates to fit their own style.
Surveyors registered with the Surveyors and Valuers Accreditation (SAVA) scheme offer an alternative – the Home Condition Survey. This survey is similar to the RICS HomeBuyer’s report, but without a valuation.