Strafford Associates Chartered Surveyors
48 Grange Park Drive
We offer two types of residential survey. The differences are relatively straightforward; however please contact us if you have any queries.
This is the most basic of our reports and establishes the value of a property for negotiating a sale or purchase. Essentially, it is a check to ensure the market value of the property accords with what a purchaser is paying. This is the type of valuation that a typical mortgage lender will carry out, and is usually included as part of the borrowers fees for the mortgage. Most lenders will provide a borrower with a copy of the valuation but it is unlikely to cover items of detail which would be picked up in a survey.
Importantly, there may be potentially costly problems or issues affecting a property that may not appear in a valuation report.
RICS HomeBuyer Service
The RICS HomeBuyer Report is a survey in a standard format approved by the Royal Institution of Charted Surveyors (RICS). It is most suitable for conventional properties built after 1920, of traditional construction, in reasonable condition and free from obvious structural defects. The report focuses on essentials such as defects and problems which require urgent attention, or are of significance to the value of the property.
It does not 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 HomeBuyer Report includes both a market valuation and an insurance replacement cost value.
If a property is being acquired without a mortgage, a purchaser should consider a valuation report as an essential minimum pre-requisite to the negotiation. You should always bear in mind that an Estate Agent is on commission to the seller, and is under a duty to obtain the best price possible for the property being sold. Valuation Reports have regard to comparable completed market transactions.