WHICH SURVEY FOR ME

Commissioning your own survey is the simple, economical way to avoid unpleasant-and perhaps costly-surprises after moving in. In some cases, the surveyor's report may enable you to renegotiate the price.

I already have a Mortgage Valuation report....

Even if you are seeking a mortgage-and may be paying for a Mortgage Valuation report-it is still advisable and prudent to arrange a survey by your own surveyor. The Consumers' Association Which? magazine and the Council of Mortgage Lenders both give this advice.

The reason is simple: the Mortgage Valuation report is prepared for the lender- not for you, the borrower. It answers only the lender's questions concerning the appropriate security for your loan. You cannot rely on it to answer the questions which concern your personal interests.

What choice of surveys do I have?

We offer two forms of survey which are specifically designed to help homebuyers:

1) A Homebuyer Survey and Valuation
2) A Building Survey (formally known as a structural survey)

A Building Survey
(formerly called a structural survey)

A Building Survey is suitable for all residential properties and provides a full picture of their construction and condition. It is likely to be needed if the property is, for example, of unusual construction, is dilapidated or has been extensively altered-or where a major conversion or renovation is planned. It is usually tailored to the client's individual requirements. The report includes technical information on construction and materials as well as details of the whole range of defects, major to minor.

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The HOMEBUYER Survey & Valuation
(usually called 'The HOMEBUYER Service')

The HOMEBUYER Service is in a standard format and is designed specifically as an economy service. It therefore differs materially from a Building Survey in two major respects.

It is intended only for particular types of home: houses, flats and bungalows which are:

· conventional in type and construction and built after 1875

· apparently in reasonable condition.

Description of the HOMEBUYER Service

It focuses on essentials: defects and problems which are urgent or significant and thus have an effect on the value of the property-although it also includes much other valuable information.

The HOMEBUYER REPORT, unlike a Building Survey, provides not only a survey but also a valuation as an integral part of the Service.

What else should I know about the HOMEBUYER Service?

The Service

The inspection, the report and the valuation-are all explained in detail in the accompanying Description of the HOMEBUYER Service, but the highlights are:

This is an economy package. Because of the practical limits on the type of property and on the scope of its coverage, the HOMEBUYER Service is priced mid-range-more expensive than a Mortgage Valuation, but less than a Building Survey.

The surveyor's main objective in providing the Service is to assist the prospective homebuyer to:

· make a reasoned and informed judgement on whether or not to proceed with the purchase

· assess whether or not the property is a reasonable purchase at the agreed price

· be clear what decisions and actions should be taken before contracts are exchanged.

The main features of the HOMEBUYER Service are compared below with those of a Building Survey.

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