Buying a house is a major investment. One that you really need to make an informed decision about. That’s exactly what the Home Condition Survey allows you to do.
It’s a striking fact that around 70% of home buyers do not commission any form of independent survey on the property they purchase. Which?, the consumer agency, estimates that undertaking a condition survey could save homeowners thousands of pounds – in some cases, as much as £10,000. Both Which? and the Council of Mortgage Lenders advise that all buyers should commission an independent survey and report on the condition of a property before buying.
What is a Home Condition Survey?
The Home Condition Survey is a full and detailed inspection carried out by a fully qualified and accredited residential surveyor. It gives a plain English, professional report on the condition of the property using a simple 1, 2, 3 rating guide and photographs amid the text.
You will understand any risks or unforeseen expenditure before you commit to the purchase.
What does a Home Condition Survey Cover?
- Building condition and defects
- Structural movement
- Damp, rot and woodworm
- Heating, water and electrical services
- Matters for your conveyancer to pick up
- Rebuilding cost – for building insurance
Your Home Condition Survey offers a comprehensive and easy to follow report about the condition of the property you are purchasing putting you in a stronger position to make the right decisions and to renegotiate the agreed sale price with the seller.
The valuation carried out by your lender is for their purpose only and to satisfy themselves of the security of the loan. It can take as little as 15 minutes to complete and is not designed to give you much information about the condition of the property.
We look at everything from the top of the roof to the bottom of the drains to give you the reassurance that your money will be safe. Where there are problems we will explain them in jargon-free language and tell you how serious they are.
Our survey reports are laid out clearly and simply, using photographs to explain what’s going on, and avoiding those annoying caveats and exclusions wherever we can.
Our report, like my inspection, will be thorough and complete, and our aim is to help you make a clear decision about whether the property is right for you.
A Home Condition Survey will normally cost between 0.1 and 0.2% of the purchase price of the property but many buyers find they can save between 5 and 10 times the cost of the survey by renegotiating the purchase price armed with the information we provide.
Brickbox Surveys are accredited by SAVA (Surveyors and Valuers Accreditation) and are members of the RPSA (Residential Property Surveyors Association). www.rpsa.org.uk
Contact Gez Parks (Residential Property Surveyor ) on 01293 773184 or 07879 697684 or firstname.lastname@example.org