Abels Surveyors - Chartered Surveyors in Bristol, Cheltenham, Gloucester and Swindon

Home Buyers Survey Quotes in Bristol, instant survey quotes from RICS Chartered Surveyors.

Should you buy a home without a HomeBuyers Report or Survey?

1 out 4 of buyers face £1, 000’s in unexpected costs in the first year.
According to RICS (Royal Institution of Chartered Surveyors), 25% of home buyers who do not obtain a Building Survey or HomeBuyers Report are forced to carry out unplanned works to the property after purchase.
The average repair costs are over £1, 800 but can run into the 10’s of thousands if serious remedial work is required; e.g. underpinning.

Should you get a Private Survey?

It is essential that you get a HomeBuyers Report or Building Survey before you exchange contracts. Failing to do so could leave you immersed in a financial nightmare that could have been averted for just a few hundred pounds.
A survey will also offer advice on urgent faults to the buyer’s legal advisors.
It helps you make the right offer in the first place.
It will help you budget for any necessary repairs. This will inform the offer you make.
Gives you an independent and professional view of the property’s value.
A Building Survey or HomeBuyer Report will give you an independent view of the value of the property.
The Mortgage Valuation is not a survey. It is only a valuation commissioned for the lender in order to assure them that there is sufficient equity to cover the loan.
Furthermore, the Lender is not obliged to give you a copy of the Mortgage Valuation Report even though you pay for it!
Your RICS Chartered Surveyor will advise you of any defects in the property. This will often enable you to negotiate money off the agreed purchase price or even re-think the purchase.

Is your lender’s mortgage valuation survey sufficient?

A common misconception is that the ‘Mortgage Valuation’ is sufficiently detailed to inform the purchasers about the structural integrity of the home they are buying.
The Mortgage Valuation is actually commissioned by the lender (albeit paid for by the buyer!) to ascertain whether the property is adequate security for the loan. It is, by no means, a substantive report and should not be relied upon by a buyer for the purpose of being satisfied as to the structural soundness of the property.

Would a Building Survey suit me better?

Clients opt to have a full Building Survey for a number of reasons:

  • The property is old (more than 100 years)
  • Has obvious structural problems
  • Is of non standard or unusual construction
  • Is dilapidated.

A Building Survey is a bespoke, in depth and detailed report tailored by the surveyor specifically for their client.
Photographs will be used to illustrate specific issues.
This report does not include a valuation or reinstatement costs.
Because this is an exhaustive and detailed report the charges for producing it will be more than that for a standard HomeBuyer Report.

Why would I need a Property Valuation?

Valuations may be required for:

  • Shared equity purchase (staircase valuation)
  • Homebuy Direct Scheme Valuation
  • Probate Valuation
  • Matrimonial Valuation
  • Valuation for sale or purchase

Property Valuations are simple documents. They do not include details of any particular defects.
These reports are designed to provide the client with a clear description of the property, valuation and comparable sale prices within the area to verify the Valuation figure.