The best way to reach an informed decision on such an important investment as a home is to have a professional survey undertaken. 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 Mortgage Valuation report is prepared for the lender and it cannot be relied upon to answer questions which concern your personal interests.
Sinclair Jones offers two forms of survey:
The Building Survey is suitable for all residential properties and provides a full account 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 extensive technical information on construction and materials as well as details of the whole range of defects, major to minor.
The Homebuyer Survey and Valuation is in a standard format produced by the RICS and is designed specifically as an economy service, focusing on essential defects and problems, which are considered urgent or significant.
The report’s objectives are to assist the client 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.
Building Surveys and Condition Reports are an important pre-requisite in acquiring either freehold or leasehold commercial premises to avoid or reduce future repairing liabilities and expenditure. A lease usually requires the tenant to maintain the property in good repair. Just occasionally the lease may state that the tenant has to return the premises to the landlord at the end of the lease in better condition than they were at the beginning. In all cases landlord and tenant need clear evidence of the condition of the building prior to occupation. A survey will provide this. A Schedule of Condition which is attached to and is part of the lease at the outset is a safeguard for later.
Dilapidation is the disrepair of a building during the course of the lease. As the lease draws to its end, or in some cases upon expiring, the Landlord will prepare a Schedule of Dilapidations itemizing appropriate disrepairs and defects for which the tenant may be liable. The tenant will therefore need to ensure that what is being requested is fair and reasonable. Similarly the Landlord should seek advice in respect of the preparation of the schedule and subsequent negotiation of the claim.