Dependent on the age, location and condition of a property you are interested in buying, there are a number of types of survey on offer which can act to safeguard your decision and avoid potentially significant costs following your purchase of a new home. The Royal Institute of Chartered Surveyors (RICS) provides a template for each survey to be followed by RICS registered surveyors. The Surveyors and Valuers Accreditation scheme (SAVA) offer an alternative.
1) Mortgage valuation
Carried out on behalf of your mortgage lender, this survey only exists to confirm whether the property you are buying is roughly worth the amount you want to pay for it. It does not provide any information about the condition of the property even though your lender may charge you for the privilege.
2) RICS condition report
The most basic survey, this gives ‘traffic light’ ratings indicating the general condition of different parts of the property, highlighting significant issues, without going into any real detail.
3) RICS homebuyer’s report
Whilst this is a non-intrusive survey (e.g. no lifting of floorboards/ moving furniture etc.), it offers a greater level of detail and highlights problems such as damp and subsidence as well as any breaches of building regulations and obvious repairs needed. It includes a market valuation and re-build costs.
4) SAVA home condition report
This is similar to RICS Homebuyers Report but doesn’t include the market valuation. It highlights obvious issues to follow up on before buying and can flag legal issues for your conveyance to follow up on.
5) RICS building survey (Full structural survey)
Comprehensive and ‘hands on’, this is the most thorough and detailed survey you can get. It includes an in depth analysis of the structure and condition of the property, listing defects and advice on repairs, maintenance and, if requested, projected costs for any necessary work.
6) New-build snagging survey
This lists both cosmetic and structural defects in brand new properties and can be given to your developer so that all issues can be resolved quickly, prior to completion.
Do I really need a survey?
Costing anything up to £1000, you might think that a survey is an unreasonable expense (especially if your lender charges you for their valuation report!) but surveys can expose hidden and necessary repair or remediation work, which you can either require to be done or ask for a matching reduction before proceeding. Both of these can most definitely save you a significant amount of money (and stress) and allow you to make an informed decision about the purchase of your new home.
Here at Edwards, we work with a number of surveyors in Bolton and the surrounding area and would happily arrange for quotations on your behalf allowing you to make a informed choice of both surveyor and choice of survey for your chosen property.
"Nothing was ever too much trouble"
Thank you so much for all your help and advice during the last few months. Your company made us feel cared about and as if we were the only clients you had. Nothing was ever too much trouble and we really appreciate it. It is as though we are leaving friends. Thank you again!
"Extremely professional and friendly service"
From my first call to arrange a viewing to collecting my keys, I received a first class, extremely professional and friendly service from the team at Edwards. They were very accommodating with viewing times, the negotiations were dealt with professionally and I was updated with progress without feeling pressurised. Even after I moved in Edwards remained very helpful. My whole experience of purchasing my new home was stress free. I will be recommending Edwards to friends and family. Thank you - I love my new home!
"We wanted accurate valuation advice"
From start to finish we were very impressed with the level of service we received from the team. We chose Edwards as we wanted accurate valuation advice from an agent with local knowledge. We got this from Alex and then excellent ongoing support right up to completion from the rest of the team.
"Took them four days to find a buyer!"
Excellent, professional and polite staff. Bent over backwards to sell our home. Took them four days to find a buyer! Made the selling of our first home quick, easy and stress free. I couldn't recommend them highly enough!
"Outstanding - the utmost courtesy and professionalism!"
Our experience with the Edwards team in Heaton, Bolton was outstanding. We were supported throughout with the utmost courtesy and professionalism. They were sensitive to all our needs, international and personal. All hurdles were dealt with promptly. Excellent job!
"Sound advice and excellent communication"
I was absolutely delighted to receive a superb, professional service from Edwards. Sound advice and excellent communication made me confident that the marketing and sale of my property was in very good hands. Many thanks to Deidre Golding and her team for bringing that about successfully. I would not hesitate to recommend Edwards to any potential sellers!
"So much easier than we expected"
This was our first purchase and Edwards were very helpful in explaining anything we were unsure about and made the whole process so much easier than we expected. We were kept well informed at every stage of the purchase by Edwards, even when our own solicitor was difficult to get hold of!
"I have no hesitation in recommending Edwards"
All the staff were very helpful and eased what could have been a difficult sale. They were all very professional and I have no hesitation in recommending Edwards to other sellers!
"Several buyers for it within a few days"
Because of the great service we received when buying through them, I didn't hesitate to entrust the sale of my late mother's property to them. Communication was great throughout and they had several buyers for it within a few days. They were able to secure a good price and the whole process was seamless!
"Sold our house very quickly"
Very happy with every aspect of Edwards' services. Helpful, efficient and sold our house very quickly, making the house selling process a lot less stressful!
"The difference in service levels was amazing"
An excellent service from start to finish. Everyone we dealt with was very professional and wanted to do a good job for us. We had been with another Bolton agent and the difference in service levels was amazing!