Property surveys and reports mainly fall into the following 3 categories. The type of survey or report you need is dictated by your own specific circumstances and what the report is required for. If in doubt as to which is right for you, please do call us for free, impartial advice on 0333 090 7552 today!
RICS Home Survey Level 1 – (Condition Report)
Based on a traffic light system, the RICS Home Survey Level 1 (Condition Report) focuses on the condition of the property only and flags up any areas that need attention. It does not give advice or a valuation.
Suitable for: Fairly recently built, small properties, such as new builds or conventional homes in good condition that you’re not planning to do any extensive work to.
RICS Home Survey Level 2 – (Homebuyer Report)
The RICS Home Survey Level 2 (Homebuyer Report) is more detailed and gives you a valuation of the property. It includes an extensive inspection and highlights defects or anything which may affect the property’s value with the traffic lights system, but the Homebuyer report doesn’t look beyond the floor coverings, boards or behind the wall finishes, but does give advice on further inspections or investigations needed. Does include loft areas, damp checks, any signs of building movement found.
Suitable for: Most conventional properties built around 1900 onwards, in a reasonable condition and/ or on which you are considering small scale alterations but does not include advice on the alterations or extensions to be made.
RICS Home Survey Level 3 – (Building Survey)
The RICS Home Survey Level 3 (Building Survey) gives an extensive inspection of the property condition including detailed information about the fabric of the property and its structure. The report also includes descriptions of visible defects and warns of potential hidden flaws together with an outline of additional investigations and repair options.
Suitable for: Unusual, older or non-traditional buildings or those that have been significantly altered. Buildings that are conventional but in poor condition or that you are planning major alterations to – but does not include advice on the alterations or extensions to be made.
Typical fees for a Level 3 Survey would be £850-£900 for a 3 bed, £950-£1100 for a 4 bed, £1100 – £1250 for a 5 bed.
If you are unsure if a Building Survey is what you need, please ask.
Eyesurvey Chartered Surveyors provide a comprehensive assessment service for our clients. Covering a large range of residential services and with over 30 years of experience we will ensure a professional service throughout the whole process.
A Valuation is not a survey!
Assessing the exact value of your property can be an intricate task, considering the multitude of influencing factors. Elements such as accessibility, location, property age, and proximity to schools can significantly affect its value. Thankfully, our experienced team specialises in conducting thorough homebuyer’s surveys in Essex, Suffolk and South Norfolk, ensuring a comprehensive evaluation of your property. With their expertise and meticulous attention to detail, they excel at identifying crucial factors that contribute to the property’s overall value. This is just one of the many ways our team simplifies the property process, making it smoother and more efficient for you.
House prices can be affected by seasons, the economy and dare we say it, politics too! And can change numerous times within a couple of months so no wonder selling a property is a difficult task.
To provide a trustworthy value, local expertise is essential. You can be confident your appraisal is correct and dependable since it will be carried out accurately using our expert knowledge and we will take into account all of these aspects.
Is it a leaky pipe or something more?
Overlooking small discrepancies in a house is a common occurrence, whether you are buying a house for the fourth time or the first. That is why it is always best to have a Building Survey or Condition Report carried out so the entire house is looked over and not a single detail is missed out. This way you are able to sort out any problems before you either move into the property or make an offer. Some issues can worsen overtime and as a result costs you more money.
Selecting the appropriate survey can present a daunting task, whether you’re downsizing, buying property for business, or entering the housing market for the first time. Making an informed choice is crucial to prevent unnecessary expenditure on an extensive survey when those funds could be allocated elsewhere. On the other hand, opting for a more affordable survey that might overlook potential property issues, which could lead to future problems, is also not the ideal route. To address these concerns, our organisation provides three essential surveys specifically designed to assist our clients.
NO VAT FEES
WE COVER ALL ESSEX , SUFFOLK AND SOUTH NORFOLK AREAS
Do I really need a survey?
Certainly, you have the option to acquire a property without carrying out a survey, but later revelations, such as the need for a complete roof rebuild costing approximately £15,000, could emerge. Once contracts are exchanged, the vendor is no longer held responsible. When investing £400,000-£500,000+ in your next home, is it worth the risk of forgoing a survey for the sake of around £500? It’s not advisable.
Not every homebuyer needs to opt for a “full” Building Survey, as there are always limitations on inspections, including what the property owners allow or make possible. Thus, no survey can genuinely be considered “full,” and it is incorrect and misleading to suggest otherwise.
It is crucial to accurately describe the scope of what is typically done in each situation and what is not. Before accepting the project and conducting the inspection, formal Terms & Conditions of Engagement must be provided.
The customer should be informed if any standard aspect of the inspection is deemed impractical or unsafe. In most cases, suggesting a Building Survey for a new or relatively recent construction may not be acceptable.
A Homebuyers survey (Level 2) is the most basic survey we provide to assess a property for sale or purchase. We would normally recommend this on some new builds. A Building Survey (Level 3) is sometimes the better option such as for a very large or unusual property, as it will give peace of mind, being more thorough and technical in its content. NO mortgage lenders insist on this level of detail. It can also show up any issues that may affect the selling price. Our team can help you decide which survey is best for your needs.
Homebuyers’ Survey News
In addition to addressing these concerns, the survey also evaluates the property’s value and determines its reconstruction cost for insurance purposes. It’s important to note that this survey is renowned for its non-destructive and non-intrusive nature, involving a visual inspection without moving items, drilling holes, or lifting floors.
In the complexities of property acquisition, many essential aspects often go unnoticed. In response, our expert team specialises in conducting Level 2 Surveys tailored specifically to “standard properties” or newly constructed homes. By examining older properties, we offer you a survey option precisely matched to your unique needs. This thorough approach ensures you receive comprehensive information essential for confidently proceeding with your property purchase, empowering you to make an informed decision with the appropriate survey choice at your disposal.
Building Defect Diagnosis
If you have had problems with cracks, bad installation or building works, damp areas and condensation. Eyesurvey can assist. Contact us with your issue and we will advise, including our fees.
Property Valuations – Probate/Inheritance Tax (IHT)
What is Probate?
‘Probate’ is the name generally given to the process of administering a will on someone’s estate when they die. If there is no Will, the process is called Administration under a Grant of Representation, but is similar. This process can include making an Inheritance Tax return to HMRC, finalising income tax affairs and pensions, collecting in the estate from banks, building societies and selling assets including properties, paying money due to beneficiaries, making any gifts of items to beneficiaries and preparing accounts for the estate. Your local estate agent cannot deal with that kind of property valuation.
How long does it take?
Depending on a number of variables, such as whether the person left a will, the amount of the estate, and if the will is being challenged, the duration of probate can range from a few weeks to a year. In the UK, probate is necessary for anybody who has to settle the business of a deceased person and needs to have access to their bank accounts, investments, and other assets in order to pay their obligations, inheritance tax, and divide their estate.
How do I deal with it?
It is normally advisable to hire someone like us to help you because few people are familiar with dealing with probate. In order to ensure that you receive the correct amount of money at the conclusion of the procedure, we can provide accurate assessments of the subject property, which we may then give to your legal counsel.
How do Probate Valuations work?
When a loved one dies, you will need any property assets valued for the Application for Probate, or if there is no Will – “Intestate” – for the Letters of Administration, now known as the Grant of Representation.
The overall value of the Estate may become subject to Inheritance Tax or Capital Gains Tax, requiring an assessment beyond the capability of your local estate agent. The figures will be subject to scrutiny by Her Majesty’s Revenue and Customs (HMRC) to ensure accuracy, preventing manipulation for tax avoidance purposes.
In cases where the deceased held only a partial ownership in the property, their share will be proportionately reduced, for example, by 10%. This adjustment takes into account the inherent challenges in selling such a share, even if it is intended to be inherited by a relative through a Will or intestacy. We fully comprehend the intricacies inherent in probate administration and empathise with the profound personal emotions experienced by our clients during the loss of a loved one. Our dedicated approach involves investing time to provide a professional and compassionate service, ensuring your needs are met.
Property Valuations – Matrimonial
The aim of a matrimonial valuation report is to establish the market value of a property, which can then be used to determine how to divide joint assets that are help by two parties involved in divorce proceedings. We understand that this can be a very difficult time and will take the time to provide a professional and caring service.
Property Valuation for Insurance Purposes
Building Insurance Reinstatement
The amount of insurance cover you will need to arrange for fire, flood, subsidence and other building movement damage, to rebuild the property.
How much is a fair figure for purchasing this property?
Surveys before purchasing.
If remortgaging or simply renewing the buildings insurance on your Buy-to-Let, you may need a figure to arrange insurable cover.
Expert Witness Reports
Litigation is on the increase everywhere. Where there are civil litigation matters involving property, it is of utmost importance that local professional surveyors used as expert witnesses in such matters can do so with complete confidence and accuracy.
Fighting a civil case can be tricky at the best of times but is especially hard when you don’t have the correct facts and figures to back up your arguments. To ensure you have the best chance of winning the case our Essex, Suffolk and South Norfolk Surveyor team can advise as well as carry out any valuations or surveys that could be used as evidence. We have been in the property business for over many years so the work carried out is always accurate.
We are fully versed in what is required in terms of being an expert witness in a property related matter, be it residential or commercial. We are governed by our RICS membership, and expected to provide sound and accurate professional opinions, in an appropriate format.
Types of disputes
- Matrimonial disputes
- Building disputes
- Party wall disputes
- Boundary disputes
- General Valuations
If you have any questions, please do not hesitate to contact us for an informal chat.
WE HAVE DONE IT AGAIN!
We are celebrating being voted one of the top three Chartered Surveyors in Colchester Eight years running!
Three Best Rated is an independent scheme which uses a 50-point inspection process to assess local businesses including reputation, history, complaints, ratings, satisfaction, trust, cost and general excellence.
This is recognition for providing consistent high quality services across Colchester, Essex.
NO VAT FEES
WE COVER ALL ESSEX , SUFFOLK AND SOUTH NORFOLK AREAS
Here at Eyesurvey we keep our website up to date with regular projects that we are currently working on or have recently completed.
By showcasing our recent case studies it allows our clients to understand the type of issues that we are able to deal with, how we deal with them and the swift and professional manner in which our team go about it.
No job is too big or too small for our team, each case will be handled with care.
Read more about our case studies here
IN FOCUS THIS WEEK
No matter what the property issue is our team will always be the best ones to deal with the problem. We have encountered many different issues over the years, all ranging in severity and have dealt with them as quickly as possible. So no matter if you are a property owner or tenant you can get back to your daily routine. We pride ourselves on never failing to give anything but the best service to all customers for the best price.
What our clients say
"We engaged EyeSurvey to help prepare a full survey report for a new property purchase. The report was thorough, well structured and easy to understand. The process was also extremely quick and easy - we engaged EyeSurvey on a Friday, they attended the property for inspection the following Tuesday and we had the final report less than 24 hours later. Would definitely recommend and use them again"
"When an issue came up about a boundary fence I share with my neighbour, I contacted Mr Long who encouraged me to first try to reach an agreement with my neighbour. However, when the matter seemed to be getting worse, I called him out; he carried out a survey and sent me his report within a few days. I now have some assurance and peace of mind"
"We received a wonderful service from Eyesurvey, we cannot recommend them enough. From our first phone call, Les was very efficient and helpful, willing to answer any questions we may have had. Thankfully, our survey was booked in fairly quickly, and we were kept updated on any progress made. We would not hesitate to use Eyesurvey again with any future house purchases. Thank you again for your services!"
MORE AT EYESURVEY
The security and value of your home or business is important to you. At Eyesurvey we understand this so provide a personal touch to all the services we offer. Your home or business is important to us too. Read more about the Residential and Commercial services we provide.
We are the local experts you are looking for so please give us a call to see how we can help you today.