Protect your investment — make sure you know as much as you can about the true condition of your building, property or future home before you commit to buy. 

Arnold & Baldwin Surveyors aims to protect your investment by de-risking the property purchase journey.

 

Having a survey undertaken is a vital step in protecting your investment.

There are 3 important reasons to have a survey carried out:

 

Mortgage valuations are for the welfare of the lender and NOT the buyer

Many people do not realise that a valuation of a property does not go into detail about the condition of a property but rather it is an assessment of the value of the property for lending purposes. It will only highlight the most serious defects that could impact the value of a property. It is not a detailed reporting of all the defects, repairs and maintenance that would be required to maintain the property.

 

Buyers who do not get a survey face on average £5,750 in repair costs

Surveys highlight defects that may not be obvious to an untrained eye. Some of these defects can get progressively worse over time if they are not remedied immediately after moving into a property. The Royal Institute of Chartered Surveyors (RICS) found through research that 17% of these cases ended up paying more that £12,000 on average.

 

Surveys can be used to renegotiate property prices 

Some defects highlighted in a survey can be very costly. This can be taken into consideration when renegotiating the purchase price. On the other hand, defects can be raised to the seller, and you may be able to request these issues be rectified before the purchase is complete.

Property Surveys

Condition Report

Level 1 – Your basic home building property report

A Condition report or Home condition report (HCR) is generally suitable for smaller and newer properties and serves as a valuable “MOT” for homeowners looking to assess the general condition of their home. It should be used for a conventional house, flat or bungalow built from common building materials which is in reasonable condition.

This report provides a succinct overview of a residential property and focuses purely on the condition of the property by giving ratings to the different parts of the building and flagging up any areas that need attention. It is a basic ‘traffic light’ survey.

 

HomeBuyer Report

Level 2 – Intermediate property survey, also known as a RICS Homebuyers report.

Designed for traditional family housing stock in relatively good condition. This is our most popular survey amongst first time and family buyers. Focussing on all aspects of the property, from damp to structural movement, this RICS Report is easy to navigate, has a traffic light system of reporting issues, and a special section for you to provide to your solicitor.

Once our surveyors have seen everything on site, they are perfectly placed to provide you with an independent RICS Market Valuation, to help you protect your investment.

 

Building Survey

Level 3 – A Building Survey (previously known as a full Structural Survey) is a wide-ranging inspection of a property, dealing with hard to reach places and structural issues.

It is the most comprehensive of the surveys available for residential properties and provides a detailed evaluation of the condition of a property. Although one of the more expensive options of survey available, the level of detail in the final report makes it vital, especially when buying older properties.

 The Reinstatement Cost (also known as rebuild cost or building sum insured) of your home, is the amount it would cost to completely rebuild the property from scratch if it were totally destroyed, by a fire for example.

It is required for building insurance applications and is the amount of money for which your home is insured in case of total loss. It includes, costs of clearing the site, materials, labour and professional fees. It is not the same as the value of your home.

Reinstatement costs are for an accurate reconstruction of your property whereas market value is simply what the property is worth as a whole finished product.

 

Snagging List Survey

Snagging list surveys are for new build properties. They are an inventory of things you are not happy with or that have not been finished by the building developer.

Our qualified surveyors visit your property and prepare a photographic schedule of items which have not been completed satisfactorily by the building contractor. This document should be submitted to the developer so they can conclude any remaining items prior to the completion of your purchase.

According to the New Homes Review, more than nine out of 10 new homeowners said that they experienced snags or defects in their new property once they moved in and half of these people were unhappy with the service the developer provided to rectify the fault.

With a snagging list survey prior to completion, these problems can be identified earlier in the process giving you the information you need to ensure that defects are dealt with before you pick up the keys.

As an additional service this report can include a valuation of the finished property.

In some circumstances, a snagging list survey might be able to help to renegotiate with the developer.

 

Prime Property Surveys

 High-value properties (£2m+) require detailed inspection and thorough due diligence. We understand the need to move quickly, often discreetly, but most importantly with accuracy, care and diligence.

Our prime team provide initial feedback on the day of inspection, and remain available to you at all times. Modern mansions, country estates, traditional family homes and penthouses require differing skillsets, our team of experts have all basis covered. Everyone needs a surveyor to call upon as the eyes and ears to support their legal team. 

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