Residential Valuations
Our experience is not restricted to the commercial world. We regularly survey and value, for a wide range of purposes, smaller and larger residential properties throughout the UK, ranging in value from £200,000 to £15,000,000. We generally offer three types of survey which are briefly summarised below.
Loan Security/Private Survey and Valuation
This survey comprises a cursory inspection, providing general observations only in respect of matters such as construction, condition (internal and external), tenure, planning, situation and description/accommodation. The survey focuses on value and the factors that materially affect it and is considered suitable mainly for properties built after 1980. This service is normally requested by lenders, investors and private individuals who require valuation advice for loan security, acquisition, disposal or asset management purposes.
Homebuyer Survey & Valuation
Prepared in the RICS recommended format, the Homebuyer Survey and Valuation covers the general condition of the property and particular features that affect its present and future resale value in a detailed document (circa 20 pages). With an inspection time of approximately 3-6 hours, the report focuses on matters that the Surveyor judges to be urgent and/or significant and is generally applicable to properties of conventional construction.
The main purpose of the survey is to assist the client in making a reasoned and informed judgement on whether or not to proceed with the purchase and the price at which to proceed. It also clarifies what action must be taken before contracts are exchanged, including safety and maintenance matters and issues that legal advisors must include in their enquiries.
Building Survey
This is the most comprehensive form of survey, recommended for larger and/or older properties that are often of unconventional or unusual construction. The report includes extensive technical information on construction as well as detailed comments on the defects and advised remedial works. The aim is to provide the client with a comprehensive assessment of the condition of the property, offer technical advice on problems, give remedial work guidance and in turn, a solid foundation from which to make an acquisition decision or plan of works. For an average property, the inspection time is approximately 4-7 hours and the final detailed report is between 30-40 pages.