Valuations & Surveys

Regulated by RICS.

Valuations

In addition to selling a property valuations may be necessary for a number of reasons and expert professional advice at such times is essential. We undertake valuations for many of the leading finance lenders in the country to undertake Qualified valuations on their behalf.

Our wealth of local knowledge allows us to provide such advice for any of the following:

• Help to Buy Loans
• Shared Ownership
• Probate
• Matrimonial Disputes
• Estate or Inheritance Tax
• Capital Gains Tax
• Insurance Re-instatement Value
• Surveys

Why do I Need a Survey?

The best way to reach an informed decision on such an important investment as buying a home is to commission a professional survey and valuation which suits your needs and is appropriate for the type of property in question. Obtaining your own survey is a simple, cost-effective way of avoiding unpleasant (and often costly) surprises after moving in. In some cases, your survey may enable you to renegotiate the purchase price. If you are not obtaining finance through a lending organisation for your house purchase you are strongly recommended to obtain a survey.

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What Type of Surveys are available from Abson Blaza?

Standard Survey & Valuation

This is a property inspection usually required by lending organisations to confirm that a property provides suitable security for mortgage purposes. A Standard Valuation is not a survey. The report includes a valuation figure and an estimate of re-building costs (for insurance purposes), as well as covering basic property details and a general overview of its condition.

The inspection is limited and as a buyer you should not rely solely on the information provided by a mortgage valuation when deciding whether or not to buy a particular property.

The RICS Home Survey – Level 2 (Survey & Valuation)

Formerly referred to the RICS Homebuyer Report, The RICS Home Survey – Level 2 (Survey & Valuation) Report is intended for conventional, residential properties e.g. houses, flats and bungalows, which appear to be in a reasonable condition and have not been subject to significant alterations since construction. The report is written in a standard format and is around 45 pages in length. It is more comprehensive than the standard valuation and focuses on essentials (e.g. urgent or significant defects and problems which may affect the value of the property).

It doesn’t detail every aspect of the property, and only focuses on urgent matters needing attention. It Is not usually suitable for properties in need of renovation, or if you’re planning major alterations.

The RICS Home Survey – Level 2 (Survey & Valuation) Report includes details of:

• The general condition of the property
• Any major faults in accessible parts of the building that may affect the value
• Any urgent problems that need inspecting by a specialist before you sign a contract
• Results of tests for damp in the walls
• Damage to timbers – including woodworm or rot<
• The condition of any damp-proofing, insulation and drainage (though drains aren’t tested)
• The estimated cost of rebuilding the property after a fire, for insurance purposes
• The value of the property on the open market.
• Because of the practical limits on the type of property and the scope of its coverage, the RICS Homebuyer Report is mid-range in price, more expensive than a Standard
• Valuation but less expensive than a Building or Structural Engineers Report.

As a prospective buyer, this report will enable you to make an informed decision on whether or not to proceed with the purchase and assess whether or not the property is reasonably priced. It will also assist you to identify what decisions and actions should be taken before contracts are exchanged. The valuer will give his/her professional opinion on the particular features of the property which affect its present value and may affect its future marketability. The valuer can only comment on visible areas where access is obtainable.

To request further information (including pricing information) on the The RICS Home Survey – Level 2 (Survey & Valuation) Report, send us an email

Condition Report

If you are just wanting a report that refers to the property’s condition as it may require renovation this is a tailor made report to suit your requirements.

The Surveyor will undertake an inspection of the property and the report will include details about:

• The general condition of the main structural elements, such as the roof, walls, floors etc…
• Those major faults in accessible parts of the building that may affect the value
• Recommendations for any specialist reports that may be necessary.
• Results of tests for damp in the walls
• Damage to timbers – including woodworm or rot to those timbers that are visible to inspect
• The condition of the services and drainage (though services and drains are not tested)
• The estimated cost of rebuilding the property after a fire, for insurance purposes
• Items that should be brought to the Solicitors atttention.
• To request further information (including pricing information) on the Condition Report, send us an email.