The
Mortgage Valuation Report
This valuation and report is organised by the lender. Its primary
purpose is to provide an opinion as to whether a property is suitable
security for the money to be lent.
Whilst the valuer will, of course, take into account the general condition
of the building, the valuation will be based on only a brief and
superficial inspection of the property. There is only limited space
allocated on a pro-forma sheet for comment on the condition of the
building. It must be remembered that the lender lends to a person,
who in turn is liable for the building's condition and maintenance.
Whilst the building is important, it is therefore to some extent
secondary for lender's purpose.
Homebuyer Report & Valuation
This report is based on a format drawn up by Royal Institution of
Chartered Surveyors and the prospective
purchaser information on:
The
information is provided in a simple and straightforward layout.
It is based on a visual inspection of as much of the interior and
exterior of the building as is accessible with safety and without
undue difficulty, including roof voids, roofs accessible with a
3m (10ft) ladder, outbuildings, site boundaries, etc., and includes
an overall opinion of the services (gas, water, electricity, and
drainage.)
This
type of report is suitable for most twentieth century properties,
but structures which are unusual by virtue of design or construction,
and particularly large properties, may require a more detailed report.
The
Building Survey
The building survey, often called a structural survey, is an investigation
into an assessment of the construction and condition of the building.
It is based upon a detailed inspection, in as much depth as is possible,
without damaging the building or its contents.
This
type of survey is essential when purchasing older or period buildings,
those with unusual characteristics or of unusual construction. It
is, however, equally suitable for traditional buildings.
The
report describes in detail the condition of each element of the
property. It usually gives advice as to what remedial work is required,
if any, often includes an indication of the cost involved.
Email the Coopers
Surveys Department on surveys@coopersestateagents.com
or use the contact form below.
You
will, of course, have had a good look at your chosen property.
However, as serious building defects may not be obvious to the
untutored eye it makes sense to ask a professional surveyor to
inspect the property for you. The cost of this report can be repaid
many times by finding defects before completion of the purchase.
