Posts Tagged ‘Private Survey’

Follow the rules, use common-sense and take professional advice and you will never look back again. Here are some guidance techniques to help you survive and perhaps prosper.

1. Let us start with wanting to place your own home on the market. Go to successful local Agents first (try to find testimonials as to each Agents good record and reputation – but don’t believe everything you read on their websites).
2. At the same time consider asking for loan finance and go to at least two sources for provisional advice – perhaps even apply for a Loan Certificate in advance of selling your home so the loan finance deal can be begun asap (remember that the loan valuation is not a survey).
3. When you find a home to buy make your offer subject to loan finance/verification, subject to contract and subject to private survey.

Q1 – Which Estate Agent?

Ans 1 – Choose three local Agents (try to match your idea of who will buy your home to which Agent might most appeal to that profile of Agent: EG: if you think that a family will buy your home from your nearest Town, perhaps a family wishing to get out “of the smoke” then it might be important to choose an Agent who has a satellite Office in that Town).

Get each budding Estate Agent to commit to paper what they think they could get for your home, how soon and how they intend to market it (see below). Look very hard at their terms of business.

Q2 – Marketing Plan?

Ans 2 – Get a written commitment from the Agent about when they are going to advertise your home, how and in what papers and magazines? Perhaps even get them to understand and agree a time limited sole rights to sell your home but after that period they be dismissed and no costs or charges will be paid unless you have agreed an offer that came via their agency services. A good Agent would agree to this whereas a dodgy Agent may not. This tactic may also get the Agent to actually tell you what they really think you might achieve – the actual value rather than what they believe you want to hear.

The Agent must produce full Property Details: this must mean several colour photographs, a room layout plan, the Energy Performance Certificate and all usually provided location, features, services, dimensions etc.. for room listing data. We would also suggest that the details provide a simple listing of all guarantees and planning documents that are in your possession and are valid (why not tell potential buyers something of value to help sell the house? Why not tell potential buyers where they can safely park their cars when viewing?).

Q3 – Instructing your Estate Agent.

Ans 3 – No sell, no fee is the way to proceed. Also never give sole selling rights – at best give Agents a clear run at selling your home but retain the right, at any time frame and at no cost/penalty to you, to instruct other Agents (but do not do so yet). Also make it very clear that should somebody they introduce to you, who visits your home but does not bid and then bids AFTER you have dismissed that Agent will mean the old Agent gets no commission (you will need to specifically agree this – in writing).

Q4 – Which Solicitor?

Ans 4 – This very much depends on the type and age of your home but I am not in favour of these massive Call-Centre type regional offices, especially those that are linked to loan companies or Banks.  I am also a believer in keeping this decision out of the ambit of the estate agent as just too many potential conflicts of interest can otherwise cut in to your potential detriment. Buy and sell via an Agent but that is all – do not buy any extras.

Call Centres are fine if you have a simple home, with a registered title, nothing unusual or altered and located in an area without any flooding, coal-mining, contamination, radon gas, mundic or other such issue. However, for the most part a local, experienced but young Practice is to be preferred. A Practice that is not too busy, does its homework long before exchange of contracts is due and is well connected with local, independent Surveyors. A Practice that goes on even if the lead staff member is ill or on holiday.

Q5 – Found a home to buy? When should you instruct the loan Valuer and your private surveyor?

Ans 5 – Arrange finance first: get your offer in writing/verified after the Valuer has visited. Clear the finance with your solicitor and then ask when the solicitor thinks is the right time for the private survey. Never instruct the loan source (your mortgage Valuer) to do a simultaneous private survey with your loan valuation.

In my view the private survey can wait until the chain is complete and all loan valuations have been completed and loan offers verified by each parties legal team: by this route you are limiting the chances of survey expenses becoming abortive because a chain has fallen through.

Q6 – What type of survey should you have?

Ans 6 – This is a difficult question as it boils down to your personal bias, your budget, the type and age of home you are buying, the characteristics of the location of the home, how much information you need, what services you may wish to link to that inspection, etc…..

For a mainstream, fairly modern, good condition home of traditional construction and in a non-clay or non-high-risk position a standard Homebuyer Report is fine (the most popular form of survey in the UK).

However, it always makes sense to actually speak to a surveyor – not a solicitor, not an estate agent, not a builder, not your neighbour, not your dad, not a secretary of a surveyor. Call an actual surveyor and get him or her to recommend a survey product and want they will charge you for it. A real professional surveyor will ask you many questions before a survey is suggested to you. Don’t think they are being officious and nosy – they are trying to focus your attention on the right issues and to give you value for money.

Q7 – Can you use your private survey to re-negotiate the purchase price on your next home?

Ans 7 – Yes, you can. Once you have your private survey do not be frightened to call the surveyor to discuss the report and how you should proceed. Once you have had that discussion immediately call your solicitor and bounce the surveyors thoughts off your legal team leader. This will give you the confidence needed to get stuck in and start a process that might just save you a lot of money (this is the point where you begin to understand the benefit of a good solicitor and surveyor – they can save you thousands of pounds whereas a Call-Centre probably will not).

The rest is in the lap-of-the-gods. Good Luck.

Stuart Parrett at PROinspect Consultancy provides free advice via his website at www.proinspect.co.uk -alternatively initial calls and product quotations are also free (078 3636 3040).

What have you got to lose? A lot if you get your team choices wrong!

PROinspect – surveying to protect you and your investments.

Independent thought and action rely upon professional integrity and a genuine belief that the “client should come first”.

I passionately believe this is true and it drives my thinking and how I conduct my life. Recently I have self produced a YouTube video so I express my thinking to a wider audience. I invite you to take a look and give me some feedback.

To access the video click this link — http://www.youtube.com/watch?v=8n5Cj5yliRI

I emphasis that as a Chartered Surveyor I am heavily regulated and abide by a Ethical Code: it is not the words that are important here as it is my believe in such matters that counts – others seem, at times, to stand for a lesser code and these are the Surveyors who get into trouble and I find myself working against them in Court.

Typically I work for Buyers but increasingly Sellers are requesting surveys. the latter to flag the home has no serious faults OR to define exactly what is wrong and so begin to manage the damage to saleability and potential purchasers expectations. As stated above I also, increasingly, work against Surveyors and Valuers when cases of alleged negligence raise their ugly heads.

So- nothing is more important to anybody involved in housing than receipt of unbiased professional advice: your own surveyor or valuer should only receive a fee or commission from YOU and nobody else (often behind the scenes commissions are paid by Surveyors/Valuers for the initial introduction from an Estate Agent – an action that I strongly object to).

Remember – a loan valuation is not a survey and you are advised to separate out the private survey from the loan valuation: why would you think that a simultaneous survey and valuation could ever be in your best interests – THINK, you are telling the loan company what is wrong with your home and they may, as a result, not issue the finance you need.

The most popular form of UK survey product is the R.I.C.S. HOMEBUYER REPORT (and Valuation) but remember the stat – only 1-in-12 home buyers take any independent professional advice on purchases.

The choice is yours: buy with good advice behind you or take a serious gamble.

Take my advice – call me find out what are your survey options – the call will cost you next to nothing and you might just save yourself a lot of money or a giant headache.

Stuart Parrett +44 (0)1489 896 174 or 078 3636 3040.

As only a small minority of buyers have any private survey we at PROinspect are concerned for thePublic. HIPs were to have Sellers Surveys, the best thing possible for buyers, but disinformation and politics managed to knock it out of sight.

So What do you need to do – When and How?

Don’t ring a Surveyor and say “I need a survey, how much do you charge?”. This does not give the Surveyor a chance to understand what you are buying and making a recommendation on the best survey product. The Surveyor could, in many scenarios, save you many pounds if you will only take the time to listen.

It all starts with how you approach your private Surveyor………..

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What are you buying – House Bungalow Flat.

How old is it? – Victorian Modern 1930′s etc….

How big is it? – No of Bedrooms? No of reception rooms? etc….

What is its general state? – Modernised? Well presented? Derelict?

What price have you offered OR what is the Asking Price?

Where is it? – Which Town or Post Code etc….

Do you have specific plans for the home?

Do you have specific concerns about anything?

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These matters allow the Surveyor to understand YOU and what you are BUYING. Once you have agreed the survey product and a fee cost and issued an clear instruction for us to proceed we will need the following type of data from you:-

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Required Customer Information

PROinspect and our customers must communicate and agree at least the following data and terms:

1. Client name and full address (if more than one person then multiple data is needed).
2. Home, work and mobile call details of each client.
3. Preferred E-mail address of each client.
4. Full address of home to be inspected (including post code).
5. Home access method and details (typically an Estate Agents full details).
6. If a home HIP exists – the full reference number of that document in sufficient detail to allow us to download it.
7. If the client knows what survey product they need then please provide the NAME of that product OR tell us what is worrying you about the home.
8. What extras to the standard service level are needed?
9. Fee agreement – the sum, how and when it will be paid etc… We usually require full payment before we submit our Report or findings to the customer.
10. The urgency of the transaction (do you have any pre-agreed deadlines?).
11. Full details of your solicitor (including call number, name and personal e-mail address).

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PROinspect will then e-mail or mail our verification, business Terms, product scheme, Conditions plus fee Invoice.

We will contact the Agent or Home Owner and do all that is necessary to inspect the premises and to report to you. Once you have our verified Fee Quotation and Terms/Conditions, and have indicated your full agreement o our service(s), then we do everything leaving you free of the stress and worry of having to organize anything.

It really is simple – if you are looking, or live in, Southern England call me for further advice and opinion.  +44 (0)1489 896 174 or use the CONTACT FORM above. Stuart Parrett.

LEGAL COMPLIANCE ISSUES REMAIN?

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A DAY IN THE LIFE OF A HOUSE SURVEYOR

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Picture the recent scene – House for Sale, price agreed, finance settled, legal matters done, only the survey to be done.

Surveyor finds various disrepairs and works are needed. No problem – most matters are said (on the Agents Details) to be newly refurbished/completed and therefore assumed to be covered by guarantees. BUT – the HIP had not had any of the usual Report and Certification documents uploaded to it and the requested HIP did not include a copy of the Property Information Questionnaire (which is mandatory) to point the surveyor in the right direction.

Result?

The Surveyors’ private survey report to the purchaser had to include detailed “what if” (with guarantee and without guarantee) comments for each defect plus valuation advice on the basis of with and without guarantees. This created greater uncertainty and complexity such that we had to hold a one-to-one meeting with the clients to re-assure them that it was worth continuing and how they should proceed.

Our Surveyors role was extended from defect diagnosis to part legal and part marketing advice to hold things together. PROinspect have no problem with this but many Surveying Practices would not go that extra mile and so the Agents and Seller got lucky (to date we have received no thanks from Seller or Estate Agents).

The Sellers interest could have easily been disadvantaged had ANother surveyor been choosen to act for the clients.

All for the sake of taking HIPs seriously and using them intelligently. The Sellers, but probably the Agents, in the context of this specific case, could have uploaded -

(1)   Multiple Contractor Reports and Certificates/Guarantees

(2)   Building Control Approvals, with Plans

(3)   Details of rights-of-way

(4)   Boundary ownership

(5)   Simple list of what recent work was completed (more than just “main items”).

PROinspect have experienced a sequence of transactions where the Agents had not acted legally: HIP documentation was not forthcoming, or was incomplete, when requested by us. This is the first occasion where we have been critical of Sellers/Agents and so compliance is generally not an issue, it seems.

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Lets compare the performance of the Commercial Markets is getting its act together on mandatory commercial buildings Energy Certification. The following is an article from QUIDOS recently –

Commercial landlords ignore energy performance legislation

• Survey highlights compliance rates of just 22% with recent commercial energy legislation
• Landlords show reluctance to commission surveys amidst depressed market conditions
• Trading standards officers to use report to target property without an EPC

Quidos Limited, experts in property energy assessment and compliance matters have published the results of an autumn study into commercial energy efficiency certification across several South West regions, conducted with assistance from local Trading Standards officers.

The report shows that Landlord compliance with the 1-year-old Energy Performance Certificate legislation for commercial property (currently for sale or let) was still very low, with only 22% of commercial property appearing to carry a valid energy certificate.

Areas surveyed with their compliance ratings:

Although these results must be qualified by the methodology used they have surprised many industry professionals who had considered EPC compliance to be over 80%. Whilst Quidos have stressed that the figures are at best illustrative and focused only on the South West, they do highlight a lack of industry compliance which is likely to be repeated across the UK.

Speaking after publication, Quidos Operations Director Nick Branch spoke in favour of moves to improve awareness of energy efficiency; “These certificates provide a valuable asset rating of the energy performance of buildings. This data can and is being used by forward thinking landlords to improve the energy efficiency, and value of their property portfolio. With low cost loans available from the Carbon Trust, these energy saving improvements can be capital neutral in the short term and revenue generating in the longer term.”

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SAVING ENERGY

UpMyStreet’s room by room guide to energy saving. You could save up to £383 a year. Data taken from the public “upmystreet” website on 26/10/09:

Indeed, if you insulate all walls and all loft spaces to today’s thermal standards you could then change the space and water heating timeclock such that the fuel is off for about 30 extra minutes a day; you could also turn the thermostat down one or two degrees. These factors will save you money but continue to achieve the same comfort standards as before you upgraded your insulation – Why? – because your home heats up quicker and does not cool so quickly.

Kitchen:

1. Fill up your dishwashers and washing machines before you use them: one full load uses less energy than two half loads. By only using your dishwasher when it is full you could save an extra £15 a year.
2. Turn the temperature on your washing machine down from 60 to 40 degrees or, if you can, 30 degrees. Most washing powders will work just as well at a lower temperature.
3. Try to defrost your freezer regularly to keep it running cheaply. An over-iced freezer will have to work much harder to stay cool, in turn wasting more energy.
4. Only fill and boil your kettle with the amount of water you need when making a cup of tea.

Bathroom:

1. By turning off the tap while brushing your teeth you could save a massive five litres of water each time.
2. Place a Hippo (water saving device) in your toilet cistern and each time the toilet is flushed this will save you around three litres of water and money off your water bill.
3. The Energy Saving Trust recommends swapping one bath a week with a five minute shower to save up to £15 per year off your energy bill. Just make sure it’s not a power-shower as these can consume just as much.
4. Fix those nightmare leaky taps to save approximately four litres of water a day.

Living Room:

1. Switch your normal light bulbs to energy saving ones and you could use 80% less electricity. Energy saving bulbs last up to ten times longer too, just don’t forget to turn the lights off when leaving a room.
2. Rather than leaving your appliances on standby, turn them off at the source and make yourself a saving of £33 a year.
3. Insulate your home. Cavity wall insulation will help reduce the amount of energy you need to heat your home and keep it warm. This will make you a saving of £115 a year. While insulating your loft can make an extra saving of £150.
4. Turn the thermostat down by just one degree and although you probably won’t feel the difference you will be able to cut your bills by 10% making a saving of around £55.

So, in conclusion it seems we can save fuel and therefore money in order to pay the fines imposed for non-compliance issues. Great.

No – but seriously, well done residential Estate Agents but look out Commercial Agents: Trading Standards Officers will have picked up on these issues.

Firstly, let’s dispel a myth: if you ask an Estate Agent to give you a Valuation what do you get? They call them a Free Market Appraisal and some might not put that opinion in writing. Why? Because what you get is simply an opinion: it is not a professionally binding opinion and liability does not stem from that opinion (you cannot sue them).

Secondly, let’s dispel another myth: if you request a Loan Company mortgage Valuation what do you get? One – the valuation is prepared for loan purposes and the sum quoted may be lower than market value for in-house Loan Company reasons unrelated to your needs. Two – if you are buying a brand New Home the chances are that in this post-recession world the loan company will have instructed their Panel Valuer to down-value your purchase because the security offered (the new home) is in its re-sale value when it is not “new”.

Football in the sun: before the rain.

Valuations can be needed for Court purposes eg: divorce settlements, Probate and Capital Gains tax purposes, Tax Planning purposes, to advise of whether alterations may be wise and economic, for sale or purchase etc……. The circumstances that surround the request may lead us to consider other market and property aspects that alter our opinions of worth.

So, what is the definition of market value?

The only way to get a professional opinion of value, one where you can sue the Valuer if he/she is wrong, is if you request that report yourself. The wise purchaser does this via either a request for a private valuation or asks for a private survey that includes an opinion of market value. The most popular form of survey product can fits this description is the R.I.C.S. Homebuyer Report (for details see elsewhere on this site).

PROinspect can provide Market Valuations. We would need to inspect the property and complete market research, including a analysis of price-paid data (that is historic) and take into consideration the market and the property.

Why would you need a professional opinion of value? This depends on why you need advice and whether you agree that independent opinion is of worth. Some might say that a Loan Company valuer can provide an impartial opinion – conversely, the credit-crunch has told us that millions of mortgagees are out of pocket because of the Banks and of home buyers had taken advice from professionals outside of the Estate Agency and Loan Company then perhaps the hole they are now in wouldn’t have been so deep.

If you believe that a Sellers’ Estate Agent and your own Loan Company place your best interests over their own then you do not need PROinspect.

If you don’t believe this then use the CONTACT FORM to ask for help and advice once you believe the time is right for you. Initial advice is free so what have you got to lose?

We are:

• Chartered Surveyors (residential market buildings/services plus on some commercial units)
• House/Flat Market Valuers
• Home Inspectors
• Domestic (non-new Homes) Energy Assessors
• Thermal Imagers
• Residential Property Consultants
• Expert Witness Reports (dispute and Court Action reports).

We work with:

• Private Individuals
• Portfolio Owners
• Local Authorities
• Solicitors
• Estate Agents
• Relocation Companies
• Building Companies
• Developers
• Accountants

We work in:

• Bournemouth, Winchester, Southampton, Portsmouth across to Chichester
• Salisbury, Andover, Newbury, Basingstoke, Petersfield across to Midhurst.
• New Forest, Totton, Romsey, Bishops Waltham, Wickham, Fareham, LocksHeath, Titchfield, Eastleigh, Havant, Waterlooville…..
• All Villages in-between; all Towns aroundabout: into surrounding neighbouring Counties.
• For higher value services and premises we will travel greater distances (including for Brits buying abroad).

Our Survey Products

The right choice is essential to match your needs:

Our surveys come in three differing levels:  1, 2 and 3.