Surveys and Valuations

Buying a new home is often the most important financial commitment you will make. Surveys are essential in helping you decide whether to buy and how much to pay for, a property.

Sheldon Bosley undertakes all types of Surveys and Valuations carried out by experienced Chartered Surveyors, to meet your individual needs. We offer impartial, independent advice and are insured and regulated giving you real piece of mind.

Reaching an informed decision on such an important purchase as a home for yourself or for investment can be greatly assisted by a professional prepared Survey or Valuation report. Before becoming legally committed minimise the risk by asking Sheldon Bosley to answer these questions:-

• Is the building sound?
• Is the agreed price reasonable?
• Are there drawbacks I don’t know about?
• If so, what do I need to do about them?

Commissioning your own survey is the simple, cost effective way to avoid unpleasant and perhaps expensive surprises. You may even be able, in some cases, to use your surveyor's report to renegotiate the price as a result of valuation advice or to cover the cost of repairs.

Mortgage Valuations

A valuation is not a survey. It’s a limited inspection of the property that your mortgage lender carries out to ensure it’s worth the money they’re lending you. Mortgage lenders often require the borrower to pay the cost of the valuation. This is not a substitute for an inspection by your own surveyor to meet your particular concerns and requirements.

The Consumer’s Association magazine “Which?” and the Council of Mortgage Lenders both give this advice.

"The Mortgage Valuation report is primarily for the Lender – not for you, the borrower – giving only information needed to establish whether the Property offers appropriate security for your loan. It does not answer the questions you need to ask".

Sheldon Bosley can prepare valuations according to your requirements for purposes that include sale, purchase, investment, probate, borrowing, matrimonial disputes, taxation and gifts.

Surveys

If you are buying a property you should have a survey done before you enter into a contract. Sheldon Bosley will be pleased to discuss the options available including building surveys, homebuyer surveys, schedule of condition and disrepair, or simple advice on repair frequently useful to the existing owners. The two main types of survey, a Homebuyer Survey and Valuation (HSV) and a Building Survey are set out in more detail below.

HOMEBUYER SURVEY AND VALUATION

This will certainly be sufficient if the property which interests you is, like most of the homes on the market, straightforward, built in the last 150 years and in apparently reasonable condition. It doesn’t detail every aspect of the property, and only focuses on urgent matters needing attention. It is not suitable for properties in need of renovation, or if you are planning major alterations. Produced in a standard format by the RICS intended to focus on urgent matters and what actions need to be undertaken before contracts are exchanged.

BUILDING SURVEY

Suitable for all residential property regardless of age or type and designed to provide a full picture of construction and condition. This type of report is likely to be needed for Listed Buildings, older properties, unusual construction, serious dilapidation, extensive alteration or enlargement in the past or planned major conversion or renovation.

A Building Survey includes investigation of the methods and materials of construction, current condition, details of major and minor defects, implications for future maintenance and recommendations for short and long term action. Naturally the process of inspection and reporting is considerably more time consuming and higher scales of fees reflect the additional work including inspection by suitably qualified specialist tradesmen where requested. It does not include a valuation, but one can be provided if required for an additional fee.