David A Kelsall Chartered Surveyors
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Valuations
| There are a number of reasons why you may require a valuation on a property, but typically these include a valuation for mortgage purposes, probate, matrimonial and insurance. It is important to be clear that this type of valuation is not a survey. Mortgage lenders require a valuation report to ensure the property is worth the money they are lending. You will probably be expected to pay for the valuation. Lenders may provide a copy of the mortgage valuation to the buyer but it is unlikely to cover items of detail which would be picked up in a survey. Many mortgage valuations are now undertaken on a 'drive-by' or 'desk-top' basis and often the property is never physically viewed. |
Homebuyer Survey & Valuation
 | Devised by the Royal Institution of Chartered Surveyors (RICS) this involves a more detailed inspection and comprehensive report than a valuation. Buying a property is considered to be one of the most important financial and stressful transactions in peoples lives as well as the biggest purchase they will ever make. Despite this many purchasers still tend to rely on the valuation report carried out by their mortgage lenders who instruct a valuer to carry out a limited inspection to help them decide whether to give a mortgage or not. The valuer is only concerned with problems that might affect the security of the loan. |
| A Homebuyer Survey & Valuation is generally considered suitable for traditional properties built within the last 150 years and in reasonable condition. It provides a concise report detailing any significant problems and includes the value of the property on the open market and an estimated cost of rebuilding the property for insurance purposes. |
Building Survey
| This is suitable for all residential properties, providing a detailed report on their construction and condition. It is particularly useful if the property is dilapidated, has been extensively altered or you’re planning a major conversion or renovation. |
The best way to reach an informed decision on such an important investment as a property is to commission a survey by a Chartered Surveyor as no one wishes to discover costly problems following a house move.
Please contact us for professional advice and to discuss your specific requirements.