WTG are able to arrange full building surveys, homebuyers surveys, home condition
reports and valuations nationally, we only instruct RICS qualified surveyors and
valuers.
Why have a survey
Buying a property is probably the largest expenditure that we may make in our lives.
Astonishingly as many as 80% of purchasers do not commission an independent survey.
A survey may cost several hundred pounds at a time when money is tight, but it will
certainly draw your attention to any defects that you did not know existed.
Any defect may require considerable immediate or future expenditure, or in the extreme
make a property virtually impossible to sell.
A survey will give you peace of mind and may help gain a discount from the offer
price.
What type of survey will I need
Each individual and house may require a different survey, dependant on age, size
of the house, and price or risk profile of the individual. We can arrange a Home
Buyers survey through to a full structural survey through our team of National surveyors.
What is the Difference between the types of survey available
Please see the sections below for more information.
Full Building Survey (structural survey)
This is the most comprehensive type of survey and suitable for any building but
is especially recommended for all listed buildings and older buildings built before
1900,or those constructed out of unconventional materials; and properties which
have had lots of alterations or extensions, or which you intend to alter or renovate.
A building survey involves a detailed examination of all accessible parts of a property
and can be tailor made to suit your individual needs and concerns.
Surveyors are not experts in electrics, gas or plumbing, they will not test services
such as the wiring and water supply, but they may recommend that an expert examination
be carried out.
Surveyors should comment on all parts of a property that are readily accessible
but they may not be obliged to inspect arrears that are difficult to access. They
will not lift carpets, move furniture or move items stored in the loft.
A building survey includes the following:
- All major and minor faults.
- Results of testing walls for dampness and timbers for damage including woodworm
or rot.
- Comments on the existence and condition of damp-proofing, insulation and drainage
(although the later will be tested).
- Recommendations for any further specialist inspections Technical information on
the construction of the property and details about material used in construction.
A building survey will not include a valuation, although we are able
to provide a separate valuation report if required.
Home Buyers Report
A Home Buyers Report is a combination of a Valuation and a Survey (HSV, HBSV and
should help you identify any major faults in the property that you are considering
buying. A Home Buyers Report is not as in-depth as a full buildings survey.
An HSV is a service carried out to a standard format, defined by RICS (Royal Institution
of Chartered Surveyors), designed for properties built after 1900, which are of
conventional construction and in a reasonable condition.
An HSV includes the following information:
- The properties general condition.
- Any significant defects, in accessible parts of the property, which may affect its
value.
- Urgent matters that need assessing.
- Results of testing walls for dampness and timbers for damage including woodworm
or rot.
- Comments on the existence and condition of damp-proofing, insulation and drainage
(although the later will not be tested).
- The recommended reinstatement cost for insurance purposes (the anticipated costs
of re-constructing a building in the event of damage by an insured risk eg.fire)
this is not the same as the market value of the property.
- The value of the property on the open market.
The HSV is not a detailed survey of every aspect of the property
and focuses only on significant and urgent matters.
It is not suitable for properties built before 1900, those in need
of renovation or that you are planning to extend.
What is a Home Condition Report
The Home Condition Report is designed to be an objective report on the condition
of the property that can be relied upon by buyers, sellers and mortgage lenders
written in a standard format and will describe the general condition of the property
taking account of its age, character and location; how energy efficient and any
defects or other matters requiring attention.
The Home Condition Report is designed to be a ‘mid-range’ survey, similar to the
current Homebuyer Survey – not as detailed as a Building Survey.
This is an objective report complied during a detailed and careful inspection of
a home. The report will be undertaken by a qualified Surveyor or licensed home inspector.
A Valuation
A valuation is an inspection carried out on behalf of your mortgage lender to determine
the amount and terms of a mortgage offer. Your mortgage lender will probably ask
you to pay for the valuation and will send you a copy of the report.
WTG are able to provide a valuation; but your mortgage lender may insist on you
using their in house service; however please call us on 0208 313 6550 to discuss.
A valuation is not a survey. It is limited to identify problems
that affect the security of your mortgage lender’s loan. You should not just rely
on the information provided by a valuation when deciding whether or not to buy a
property.