What Type of Report Do You Need and How Much Will It Cost?
At Eyesurvey, we offer a wide range of professional property homebuyer and building reports, each carried out by a highly experienced and qualified surveyor. Our residential property reports offer impartial assessments, but you may be wondering, which do I need and how much will it cost?
There’s no straightforward answer to those questions and the outcome can significantly differ depending on a variety of factors.
Read on to understand those differences, what to expect, and what information we’ll need from you to help advise you further.
What is a Chartered Surveyor?
A Chartered Surveyor can provide crucial professional services and impartial advice related to property, land, and construction. They can assess properties for defects and future issues or problems. They’re also able to work out the valuation of a property for a variety of purposes.
At Eyesurvey, we’re regulated by RICS and have been through the necessary, rigorous training to ensure our professionalism and trustworthiness. A Chartered Surveyor will show their designatory letters – MRICS or FRICS – after their name on any correspondence or reports.
The Homebuyer Survey (RICS Level 2 Report)
The Homebuyer Survey is a non-intrusive, visual-only inspection, in which our Chartered Surveyor will inspect observable (safely able to be seen) areas in your property to report on the condition of the home and highlight any defects. Within this survey, floorboards aren’t lifted for further inspection, nor is any furniture or fitted floor coverings moved to reach areas.
However, all major features including roof, ceilings, walls, and bathrooms, as well as permanent outdoor features like gutters and pipes are visually inspected, so far as visible. The Level 2 or Homebuyer Survey will uncover any potentially serious structural problems and will advise further on suitable repairs.
Within the survey, you’ll also receive an overview of the inspection of visible parts of the heating system and drainage system, electric, gas/oil, and water services.
That is NOT the same as tests carried out by qualified tradesmen such as an electrician or “GAS-SAFE plumber.
This survey is appropriate for most traditionally built properties that have not been significantly extended or altered, are found in apparently satisfactory condition, and were built after around 1900.
For older, non-standard, or more dilapidated homes, you would possibly benefit from a more detailed Level 3 or Building Survey to uncover any less visually obvious issues.
The Building Survey (RICS Level 3 Report)
The Building Survey will encompass everything included in the Home Buyer Survey as standard. However, the advice in the Building Survey is more detailed and technical, will include the chartered surveyor looking over the entire property, including the loft, basement, under loose carpet, and behind furniture. Everything that can be safely, looked at and inspected, will be.
As a Building Survey is much more in depth, it should be considered if the property is visually in poor condition, significantly extended or altered in any way, you require further advice on alterations, or the property was built before 1900.
You’ll receive an assessment of all major and minor faults found within the property, along with the implications of these faults, and an examination of the potential for hidden defects.
A Chartered Surveyor will be able to advise you what type of Survey report is appropriate.
A Property Valuation
A valuation report is NOT a survey. This involves a brief inspection to simply assess the market value or insurance value of the property.
Eyesurvey cover Essex and Suffolk and are local to each, this is key to receiving an accurate valuation. As well as the property itself, things like school catchment areas, development plans and level of demand can all be taken into consideration to give you the best quality and reliable valuation possible.
We do not carry out any valuation work for lenders or for mortgages. We do provide valuations for Divorce (matrimonial), for Inheritance Tax/ Probate, and for Buildings Insurance Reinstatement costs, among other purposes.
How much will the survey cost?
As mentioned, the price of your survey will firstly depend on if you require the Homebuyers Survey, a Building Survey, or simply a property valuation. However, other factors can also significantly impact the total cost, including the property’s age, its value, condition, size, and location.
Before we are able to assist you, we will need some more details on the property concerned. We try to guide you on what is suitable and likely to give the best value for your fee.
We can’t offer advice on survey/ valuation costs unless we know the location, type, size and several other details of what you have in mind – as you will understand, any survey/ valuation is an individual, professional job carried out only for you personally, and can’t be priced like “a box of cornflakes”.
At Eyesurvey, we aim to provide the best service possible to all our customers, as well as competitive prices, whilst delivering a guaranteed quality report fit for purpose.
What to do next
Eyesurvey can offer impartial help and advice on which property survey may best suit your individual needs. However, to do so, we’ll need as much information as possible from you on the property that you’re considering a survey for.
To provide an accurate assessment, we’ll need to know the property’s age, general visual condition, an approx. size, a valuation if known, and its location. To speak direct to our friendly, experienced team today, contact us on 01206 545 139, alternatively you can drop us a message with the above information and a contact number to get back to you on ASAP.
Les Long FRICS FISVA Principal, Eyesurvey
Contact EYESURVEY Chartered Surveyors here for all your professional property services and needs.