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Published On: Mon, Dec 3rd, 2018

Choosing the Right Type of Survey and Finding the Best Surveyor

After getting an offer accepted for a property, the next thing you need to think about is whether you need a survey and, if so, what type of property survey will be most beneficial for you. To address some of the confusion people have, it is essential to keep in mind that if you have a mortgage valuation, its primary purpose is to assess the property value. Mortgage lenders often recommend a company to conduct the assessment which you will pay for. A mortgage valuation is not similar to a survey and does not serve the same purpose.

photo/ Scott Blake

What is a property survey?

A survey intends to provide a detailed inspection of the condition of the property. For example, if you live in the Leicester area, then qualified surveyors Leicester offers will determine if there are any problems with the property you need to be aware of. It is also the surveyor’s job to point out if some areas of the home need major refurbishment. A survey also contains a comprehensive description of the property such as the type of glazing used, and the materials used in the walls or roof.

What kind of survey do you need?

There are several types of surveys you can choose from. The type of survey you get depends on your budget as well as how detailed and in-depth you want it to be. Here are the different types of surveys you can choose from:

  • Condition report. This type of survey is a level one survey which is also the cheapest option. It is also the most fundamental choice which serves to complement a mortgage valuation document.
  • Homebuyers report. You can get a homebuyers report which includes a survey and property valuation.
  • Building survey. This type of survey provides the most detailed information about the property. The report will consist of advice on areas that need repair and may include estimates as well as the consequences of not conducting the recommended repairs. A building survey, although the most expensive option, is a worthwhile investment because it helps you negotiate on the initial offer you made on the property based on the survey findings.

Whether or not you need any of these surveys will also depend on the property condition. For example, if the property is brand-new, you may not need a building survey after all.

How to find a surveyor

To find the best surveyor, find local firms and compare quotes from them. It is vital that the surveyor is RICS accredited and has extensive experience in conducting surveys. You can also contact the Royal Institute of Chartered Surveyors directly to get a referral for a local company.

A local company is always best because they are already familiar with the types of homes and buildings in the area. If the property you are buying is listed, old, or has unique dimensions, you may need to find a specialised surveyor for the job.

Lastly, you need to tell the surveyor precisely what you are looking to get from the report and point out the specific areas you want looked at in detail. This will ensure you will get the most out of the survey you are paying for.

Author: Joana Green

About the Author

- Outside contributors to the Dispatch are always welcome to offer their unique voices, contradictory opinions or presentation of information not included on the site.

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