A thorough survey is essential for anyone proposing to buy a home! Many people rely on the mortgage valuation report. A mortgage valuation is not intended for the purchaser and may not give the information required to base a sound buying decision.
Simpson Towler offers purchasers a Level 2 survey, using the RICS Home Buyer Report model. The service is based on a non-invasive inspection of accessible areas of a property and reports on
- the exterior
- the interior
- the roof space(s)
- the services
- the grounds and garage
- background of the area
- issues for legal advisers
- the value of the property (optional); and
- a reinstatement cost recommendation (optional).
The Report gives each element of the premises a condition rating, to highlight matters of urgent and less urgent repair and gives advice on any further investigations or tests thought necessary.
The Report is presented in a format that is easy to read and understand and keeps the use of technical terms and jargon to a minimum
Armed with such a Report, a buyer can make a reasoned decision on whether to proceed or not; on the steps to be taken before exchange of contracts and on whether the property is a fair buy at the proposed price. Suggestions are made about legal enquiries to be undertaken by conveyancers. Failure to make informed choices can lead to costly mistakes.
The cost of an RICS Home Buyer Report depends on the size, location, type and value of the property concerned. Simpson Towler is happy to quote without obligation. Whatever the cost, if a Report highlights just one fault with appreciable financial implications, the opportunity given to renegotiate the purchase price can mean that the Report pays for itself and can save a lot of money!