Why Do I Need My Own Survey?

The best way to reach an informed decision on such an important investment as your home is to have a professional survey and valuation of the property which interests you. Before you decide to go ahead and commit yourself legally, you can minimise the risks by asking a qualified surveyor to answer these questions:

  • Is the agreed price reasonable?
  • Are there drawbacks I don’t know about?
  • If so, what do I do about them?

Commissioning your own survey is the simple, economical way to avoid unpleasant – and perhaps costly – surprises after moving in. In some cases, the surveyors report may enable you to renegotiate the price.

I Already Have A Mortgage Valuation Report...

Even if you are seeking a mortgage – and may be paying for a Mortgage Valuation Report - it is still advisable and prudent to arrange a survey by your own surveyor. The consumers association Which? Magazine and the Council of Mortgage Lenders both give this advice. The reason is simple: The Mortgage Valuation report is prepared for the lender – Not for you, the borrower. It answers only the lender’s questions concerning the appropriate security for your loan. You cannot rely on a mortgage valuation to answer the questions which concern your personal interests.

What Choice of Surveys Do I Have?

Our in house RICS fully accredited surveyors offer two forms of survey which are specificall designed to help you as the homebuyer:

A Building Survey

This type of survey is suitable for all residential properties and provides a full picture of their construction and condition. It is likely to be needed if the property is, for example, of unusual construction, is dilapidated or has been extensively altered – or where a major renovation is planned.

The report includes extensive technical information on construction and materials as well as details of the whole range of defects, major to minor.

RICS Home Buyer Survey & Valuation

The Homebuyer, unlike a building survey, provides not only a survey but also a valuation as an integral part of the service.

Before you commit make sure you have the RICS HomeBuyer Report to help you:

  • Make an informed decision on whether to go ahead with buying the property.
  • Decide what is a reasonable price to pay for the property.
  • Take account of any repairs or replacements the property needs and consider if you need any further advice before exchanging contracts.
  • The report is colour coded to make it easy to see if and where there are problems with the condition of the property. Make sure your dream home isn’t a nightmare in disguise with the RICS HomeBuyer Report.

Call 01270 629474 or email survey@coppinger-boston.co.uk for further advice.