Posts Tagged ‘Case Scenarios’

Surveyors get told to do all sorts of things and at all sorts of times but do you know the options available to you? Do you know how to get the best out of a Surveyor? Do you know when it might be best to speak to a Surveyor?

Everybody seems to think differently when it comes to what to expect of a House Surveyor. Here I outline what I think you might need to know for the most common case scenarios.

1. Thinking of Selling? One option is to consider placing a Home Condition Report (HCR) within the Home Information Pack (HIP) on your home. The same Surveyor could also complete the Energy Performance Certificate (EPC). The HCR is something a potential purchaser, and the Mortgage Valuer/Company, can rely upon and sue the Surveyor if it is negligent. You may think a HCR is a good idea if you wanted to prove your home was in good condition OR if it had serious problems and you wanted to define those problems so bidders did not make over-cautious purchase bids to you.
2. If you own a home that is “System Built” (or is registered under the Defective Premises Act 1972) again you may wish to consider the benefit of a Sellers Survey (HCR) to attempt to remove some of the stigma that can attach to such homes.
3. If you are considering buying a home at Auction you have a greater number of survey options. On the one-hand you don’t want to waste too much money and so you might wish to consider simply asking a Surveyor to walk around the home with you to discuss what he is seeing and to verify no major defects exist. Such a “look around” is not a proper survey but provided you can accept that the Surveyor will not produce a written report and cannot accept any liability for such a restricted inspection then you are on track to buy that bargain and have reduced your risks considerably. Alternatively, you could ask a Surveyor to produce a R.I.C.S. Homebuyers Report (that includes a Valuation opinion).
4. Buying any type or size of Home – remember you always have the option to ask a Surveyor to take an informal look around for you (often with you so you can ask questions etc…). This may be termed a pre-survey meeting at the premises. PROinspect have 15 inspections products and so we can cover nearly every customers request for surveys.
5. Buying a fairly simple, modern home – The most popular survey product in the UK is the R.I.C.S. Homebuyer Report (2010 version) – termed the HOMEBUYER REPORT (HBR). This is a product designed by the Royal Institution of Chartered Surveyors (RICS) and is the middle-tier product designed to be brief but factual. It includes a proper site inspection, survey report on condition, market valuation and an estimate of the Rebuild Cost of the building for insurance purposes. The HBR is termed a Level 2 survey product.
6. Buying a larger, expensive or Period home, perhaps in a Conservation Area or one that is Listed – Your options are a Level 2 survey product such as the Homebuyer Report (if the Surveyor thinks this is wise) or a full Building Survey with or without Market Valuation and/or Rebuild Cost assessment. A Building Survey is a top-of-the-range product and I add a word of caution- (1) only experienced surveyors should be completing such products and (2) many products exist that look like Building Surveys but are not. MAKE SURE your Surveyor comes recommended and that you have spoken to the Surveyor – one to one – before you proceed so you can get some idea of his Professionalism and general attitude.

The Golden Rules are –

• Instruct a Surveyor when your solicitor gives the OK after your loan valuation has been completed and your mortgage finance is verified (not simply offered, subject to terms).
• Always speak to the Surveyor who is to inspect your new home: do not be palmed off with only speaking to a secretary, junior assistant or office manager.
• Ask for a survey product recommendation AFTER you have provided full details of the property you are buying (age, price, number of bedrooms, address, etc…).
• Make sure your Surveyor is locally based, knows of the property construction type and is generally experienced both professionally and locally.
• Make sure you will be able to speak directly with your Surveyor after he has delivered your Report.

If your home/property is in southern England I invite you to call me to discuss your exact needs. Stuart Parrett +44 (0)1489 896 174.