Pre-Purchase Condition Survey Advice & Residential Property Valuations

What choice of survey is there?

Valuations are undertaken to obtain independent advise on the Market Value of a property. They are non-condition reports and would be used in cases such as tax assessment, probate, matrimonial dispute or share equity sales. In addition to a property Valuation, we offer two types of condition survey which are specifically designed to help home buyers.

Why do I need my own survey?

A survey will help you to make a reasoned and informed decision on whether to go ahead with buying a property. Before you decide to commit yourself legally, you can limit the risks by asking a Chartered Surveyor to answer the following questions for you. • What is a reasonable price to pay for the property? • Are there any serious or urgent defects or specific risks with the property? Arranging your own survey is the simple, cost-effective way to avoid unpleasant – and perhaps expensive – surprises after moving in. In some cases, the Surveyor’s report may allow you to renegotiate the price of the property.

Do I still need my own survey if I already have a mortgage valuation report?

Even if you are looking for a mortgage and, as a result, may be paying for a mortgage valuation report, we still recommend that you arrange a survey by your own Surveyor. Both the Consumers’ Association ‘Which?’ magazine and the Council of Mortgage Lenders give this advice. The reason for this is that the mortgage valuation report is prepared for your lender – not for you, the borrower. It answers only the lender’s questions about whether the property offers suitable security for your loan. You cannot rely on it to answer the questions that concern your personal interests or to give you details of the condition of the property. Also, some lenders do not provide a copy of their mortgage valuation report.

Areas We Cover

Arlesey, Baldock, Biggleswade, Bishop’s Stortford, Bricket Wood, Brookman’s Park, Buntingford, Dunmow, Epping, Harlow, Harpenden, Hatfield, Henlow,  Hertford,

Letchworth,  Hitchin, Letchworth Garden City, London Colney, Potters Bar, Redbourn, Royston,

Sawbridgeworth, Shefford, St.Albans, Stansted, Stevenage, Stotfold, Waltham Cross, Ware, Welwyn Garden City, Wheathampstead

RICS Condition Survey Types : Level 2 (The Homebuyer type) & Level 3 (otherwise referred to as Building or Structural Surveys)

Chartered Building Surveyors and Registered Valuers – RICS Qualified

Both reports will identify what the Surveyor considers to be the most important issues. By applying condition ratings to elements of the building, the services and any garages and permanent outbuildings, the surveyor will tell you whether defects are serious or urgent.

The HomeBuyer type can also include the Surveyor’s opinion of the market value and reinstatement cost (which you will need for insurance purposes). These may also be options on the Level 3 Building Survey.

The reports also include other valuable information such as any matters for your legal adviser’s attention.

A Building Survey (This used to be called a structural survey) Level 3 Report

A Level 3 Building Survey is a service suitable for most older residential properties and gives more details of their construction and condition. You are likely to need this type of survey if, for example, the property is very old ( pre 1850), unusually built (including period timber frame), run-down or if it has been significantly altered.

The RICS Level 2 Report

The RICS Level 2  report is a more succinct report for standard property types. The inspection is essentially the same as the Level 3 Building Survey but reporting is more concise unless defects are encountered. It is designed for particular types of homes. These are houses, bungalows and flats that are of a traditional type and construction; and are apparently in reasonable condition.

Regulated by RICS Co. No. 049241 Cameron Property Survey Ltd Co.Reg.No. 6879932 VAT No: 985 4759 52. © 2015 Cameron Property Survey Ltd, All rights reserved. Cameron Survey is a trading name of Cameron Property Survey Ltd