A purchaser must always be satisfied that the property they are buying does not have any major defects or, if it does, that they understand the problems and are prepared to proceed to purchase the property on that basis. To this end it is normal to have a survey carried out by a qualified surveyor. The regulatory body to which such surveyors belong is the Royal Institute of Chartered Surveyors, thus the company (or individual) will have MRICS or FRICS after their name.
Surveyors undertake three principal levels of inspection on a property:
- Valuation - This is usually required by a lender. It is a rudimentary inspection, to confirm that the property (that will be held as security) is worth what is being paid for it. When undertaking the valuation, the surveyor may also identify obvious defects with the property.
- Homebuyers Report - This is a more detailed examination, which will entail the surveyor visiting the property for a longer period of time and will involve the inspection of all the key aspects of the property. This is the most common type of survey.
- Full Structural Survey - This is more thorough than a Homebuyers Report and will entail all parts of the property being inspected in considerable depth. This type of survey is usually appropriate for older properties, or where the purchaser requires more detailed information.
On occasions where a specific structural problem is suspected, perhaps as a result of an initial survey, a Structural Engineers report is commissioned. This inspection examines the specific issue and usually identifies the cause and potential solution.
Surveyor and structural engineer:
Nettleton Associates
Contact John Nettleton
01442 878311
07976 761406
JohnSurv@AOL.com