RICS Homebuyer Reports and Building Surveys

Clee, Tompkinson and Francis offer a full range of professional property services offering advice on all aspects of urban and rural Estate Agency

VALUATIONS
Most banks and building societies required a valuation to be carried out on a property before making a mortgage offer
A valuation is simply a property inspection carried out with the sole purpose of determining the value of the property so that the lender can assess how much it may lend.
A valuation is a very limited inspection and is not a survey.
A valuation should not be used as the only indication of whether to buy a property.

SURVEYS
There are two main types of survey which cover different levels of building inspection and are suitable for different types of property. A survey should be undertaken and the results considered before you enter into any kind of contractual agreement.

HOMEBUYER’S SURVEY
This type of survey is designed for particular types of homes, defined as "conventional in type and construction" and "apparently in reasonable condition".

This survey is less expensive than a building survey, (although more expensive than a valuation), and highlights any immediate problems or defects which will have an effect on the value of the property, allowing a purchaser to make a reasoned and informed judgement on whether or not to proceed with the purchase at the agreed price.

If you would like more information about this type of survey please e-mail any of our offices

BUILDING SURVEY
This type of survey is suitable for all residential properties and provides a detailed report on the construction and condition of the property. Because the level of detail is higher than the Homebuyer's Report, a building survey is more expensive.

You may require a building survey :
If the property is of unusual construction
If the property is old, dilapidated or in need of serious repair
If the property has had extensive alterations
If you are planning to convert or renovate the building in a major way

The report will include extensive technical information on the construction of the house, details about materials used in construction and a report listing all major and minor defects. The full building survey does not provide a valuation although this can be arranged as an extra report, on agreement with the surveyor.

If you would like more information about Building Surveys then please e-mail any of our offices or visit our new detailed page on Building Surveys

If you wish to find out more about Surveys then here to link to the RICS Website for Understanding Surveys.

Ammanford | Brecon | Carmarthen | Clydach | Crickhowell | Hay
Llandeilo |Llandovery | Morriston | Neath | Pontardawe | Ystradgynlais