Surveys and Valuations
Below are details of the main types of inspection undertaken on property and occasions on which each is likely to be required. You are advised to check which option is best suited to your needs (and expectations) before formally instructing any individual to act on your behalf.
The primary purpose of a valuation is to provide an opinion of the price a property might achieve if it were sold.
Pre-purchase Survey and Valuation
The RICS Homebuyer Survey and Valuation fits neatly into this category. A pre-purchase survey and valuation will advise on value as well as giving factual information on significant aspects of the condition of a property to the prospective purchaser.
This was once referred to as a ‘Structural Survey’. It is a detailed investigation and assessment of the construction of a building but will not include advice on value. This can be added but will incur an additional fee.
Reinstatement Cost Assessment for Insurance
This will advise on the anticipated cost of reconstructing a building in the event of damage by an insured risk and will have no direct relationship to the market value of a property.
The actual cost of a survey or valuation varies from property to property (and the type of report required). The age, type, size and value are also taken into account. For this reason there can be no substitute for discussing your requirements in detail with the surveyor before instructing. To obtain a quotation without obligation, telephone John Hemsley BSc FRICS on 0118 979 8118 or click here to email us. We are always happy to talk.