Buying a property is perhaps the largest investment you will ever make. The home you are proposing to purchase may have the appearance of being in a good state of repair, but a survey report from a Chartered Surveyor will put your mind at rest and identify any major structural issues as well as diagnose general maintenance problems likely to be encountered during your term of ownership. Only by understanding the true condition and value of a property can a buyer make a fully informed decision upon purchase.
Indeed, 'Which Magazine' in its report 'The point of viewing -May 2008', stated "..where independent condition survey had been commissioned and a problem was uncovered, 44% of respondents negotiated a reduction in price for the property, a further 10% ensured that the problem was rectified before completing the purchase"..
Valuations FOR PURCHASE – A valuation report should not be mistaken as a survey. It is a limited visual inspection of the property that advises on value at the time of purchase. The valuation report is not intended to identify defects unless they severely affect value. You should ensure you are confident that you do not need to commission a more detailed report.
INSURANCE VALUATIONS – The value of your home or the council tax band valuation have no direct relationship with the rebuilding costs for insurance purposes. Providing an accurate reinstatement cost for your insurer is vital. Without this you not be adequately insured leading to potential problems when making a claim. The Fletcher Broadbent Partnership can quickly and efficiently undertake insurance valuations on all types of residential property.
Home Survey Report
This is a level two survey report often referred to as a Homebuyers Survey. As members of the ISA (Independent Surveyors Association) our level two survey is completed to a standard format and is most suitable to conventional properties built within the last 150 years which are in reasonable condition. The survey includes details of:
Known previously as a 'Structural Survey', this is a more comprehensive inspection and report. It examines all accessible parts of the property including underfloor areas if possible. You can ask to have specific areas included so it can cover any particular concerns you have about the property. This type of survey is suitable for all property types including:
The Home Survey Report and Building Survey do not contain a valuation figure. However, this can be included for an additional fee.
SCHEDULES OF CONDITION – A schedule of condition is carried out in order to determine the condition of a commercial property prior to entering into a lease agreement. This ensures that existing defects and their repair costs are identified in order to offset any potential liability and claim for repairs by the Landlord at the end of the lease term. The Fletcher Broadbent Partnership can act in this capacity on behalf of either the Landlord or the Tenant.