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Learn about House survey needed for Conveyancing

Investing in a property might be the biggest investment in a person’s life. You want a safe and welcoming home, but one of the most important aspects is the house durability. Are you investing in a made to last property or you are burdening yourself with a mortgage for no reason?

What is House survey?

It is important to conduct a house survey once your offer is accepted. You should know what are you paying for and which problems you might be facing in the future. With a house survey, you will have a good idea about the property condition, if any fixtures have to be carried out or if there are issues you were not told about.

Which house survey should I choose?

  1. Mortgage valuation: Basically, this type of study has only the purpose of “valuation”, without any details on the condition of the building. It gets you a comparison between how much the house is worth and how much should you pay for it.
  2. RICS condition report: The Royal Institute of Chartered Surveyors regulates the house surveys, whilst providing the surveyors with the opportunity of fitting the templates to their needs. It is a general perspective on the home condition, without getting into details. Recommended when the house is (relatively) new and you just want reassurance that everything is in order.
  3. RICS HomeBuyer’s report: Recommended for most buildings (flats, bungalows and houses) in reasonable condition, the house survey details issues like a dump, subsidence, any repairs, maintenance and includes a market valuation and the rebuild case. Mentions if the property meets the current building regulations.
  4. RICS building survey: A rigorous report, which analyses the structure and has a more intrusive check, like looking under the floorboards, behind the furniture or verifying the attic. Recommended for buildings over 50 years.
  5. New-build snagging survey: Is important to conduct a new-build survey before you move in, that will identify any cosmetical or structural issues in your new property, so you can still benefit from the two-year developer warranty

One of the largest networks of RICS regulated chartered surveyors is SamConveyancing. Their services include subsidence and damp inspection, infestations and asbestos in all the house surveys.

Moreover, you can select a wider range of services suitable to your needs, from lease extension valuations, property valuations to a structural engineer or defects reports. Their national network and local knowledge allow you to choose a local RICS regulated surveyor to conduct the type of house survey you need, so you know exactly what are you paying for.

Posted by on 05/10/2016 in Property survey

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