A The Homebuyer Survey The
Homebuyer Survey comprises:
An Inspection
of the Property (Section B below) a concise
Report based on the Inspection (Section C) the Valuation,
which is part of the Report (Section D)
The
Surveyor 's main objective in the Homebuyer Survey is to give Clients considering buying a particular Property the professional advice which will assist them:
to make
a reasoned and informed judgement on whether or not to proceed
with the purchase to assess
whether or not the Property is a reasonable purchase a the agreed
price to be clear
what decisions and actions should be taken before contracts are
exchanged.
The
Homebuyer Survey therefore covers the general condition of the Property
and particular features which affect its present value and may affect
its future resale. The Homebuyer Survey report focuses on what the Surveyor judges to be urgent or significant matters. Significant matters are those
which, typically, in negotiations over price would be reflected in
the amount finally agreed. The
Homebuyer Survey Inspection is a general surface examination of those parts of the Property which are accessible: in other words, visible and readily
available for examination from ground and floor levels, without risk
of causing damage to the Property or injury to the Surveyor . Due
care is therefore exercised throughout the Homebuyer Survey Inspection regarding safety, practicality and the constraints of being a visitor to the Property
(which may be occupied). So furniture, floor coverings and other contents
are not moved or lifted; and no part is forced or laid open to make
it accessible. The
services are inspected (except, in the case of flats, for drainage,
lifts and security systems), but the Surveyor does not test or assess the efficiency of electrical, gas, plumbing, heating or drainage installations, or compliance with current regulations, or the internal condition of any chimney, boiler or other flue. Also, the Surveyor does not
research the presence (or possible consequences) of contamination
by any harmful substance. However, if a problem is suspected in any
of these areas, advice is given on what action should be taken. Where
necessary, parts of the Homebuyer Survey Inspection are made from adjoining public property. Such equipment as a damp-meter, binoculars and torch may
be used. A ladder is used for hatches and also for flat roofs not
more than three metres above ground level. Leisure facilities and
non-permanent out buildings (such as pools and timber sheds) are noted
but not examined. In the case of flats, exterior surfaces of the building
containing the Property, as well as its access areas, are examined
in order to assess their general condition; roof spaces are inspected
if there is a hatch within the flat.
The Homebuyer Survey Report provides the Surveyor 's opinion of those matters which are
urgent or significant and need action or evaluation by the Client
before contracts are exchanged. It includes some or all of the follow:
urgent
repairs (e.g. gas leak; defective chimney stacks) - for which
the Client should obtain quotations where appropriatesignificant
matters requiring further investigation where essential
(e.g. suspected subsidence) - for which the Client should obtain
(any may have to pay for) reports and quotations from suitable
contractors significant
but not urgent repairs and renewals (e.g. new coverings for
flat roof before long)other
significant considerations (e.g. some potential source of
inconvenience) which the Surveyor wishes to draw to the attention
of the Clientlegal
matters (e.g. a possible right of way) which the Client should
instruct the Legal Advisers to include in their inquiries.
Matters
assessed as not urgent or not significant are outside the scope of
the Homebuyer Survey and are generally not reported; however, other
matters (such as safety) are reported where the Surveyor judges this
to be helpful and constructive. If a part or area normally examined
is found to be not accessible during the Inspection, this is reported;
if a problem is suspected, advice is given on what action should be
taken.
The
Report is in a standard format arranged in the following sequence:
Introduction & Overall Opinion; The Property & Location; The Building;
The Services & Site; Legal & Other Matters; Summary; Valuation .
In the case of leaseholds, the Report is accompanied by a standard
appendix call Leasehold Properties .
The
last section of the Report contains the Surveyor 's opinion both of
the Open Market Value of the Property and of the Reinstatement Cost,
as defined below.
"Open
Market Value" is the best price at which the sale of an interest in
property would have been completed unconditionally for cash consideration
on the date of valuation. In arriving at the opinion of the Open
Market Value, the Surveyor also makes various standard assumptions
covering, for example: vacant possession; tenure and other legal considerations;
contamination and hazardous materials; the condition of uninspected
parts; the right to use mains services; and the exclusion of curtains,
carpets, etc., from the valuation. (If required, details are available
from the Surveyor .) Any additional assumption, or any found not to
apply, is reported.
"Reinstatement
Cost" is an estimate for insurance purposes of the current cost
of rebuilding the Property in its present form , unless otherwise
stated. This includes the cost of rebuilding the garage and permanent
outbuildings, site clearance and professional fees, but excludes VAT
(except on fees).
Allied Surveyors is the trading name of Allied Surveyors plc and Allied Surveyors Scotland plc. We are an independent company of Chartered Surveyors with offices throughout the UK. Our teams of experienced Chartered Surveyors provide professional property advice to major lending institutions, companies and private individuals. We have been appointed to most of the panels of mortgage lenders enabling us to undertake a simultaneous detailed survey inspection of property for private clients.
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BlueBox partners provides the logistical and technical support to property professionals and is now developing a Centre of Excellence of like minded individuals that assures clients of the quality of the work performed.
We have many years experience in advising both clients and Surveyors in the technical aspects of their business through the Allied Surveyors network. Our excellent team has worked in well recognised organisations and has exceptional and proven training, coaching and negotiation skills. We also provide a range of training services for surveying organisations both large and small that can be tailored to specific needs.
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Movers-Pack brings together the technology, industry experience and home inspector capability required to deliver quality assured Home Information Packs to partnering estate agency and conveyancing organisations.
BlueBox partners ' and Allied Surveyors' Home Inspectors will undertake the Movers-Pack HCRs and will offer a range of valuation services to mortgage lenders including value validation via desktop AVMs and physical valuation inspections where necessary.
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