Long Established Surveyors in Coventry
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.
There are three types of reports available to a purchaser. Coopers' provide RICS accredited Homebuyer reports, but should you need any other type of survey we can give you advice on local professionals that can help you with this.
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, which we can carry out for you, is based on a format drawn up by Royal Institution of Chartered Surveyors and the prospective purchaser information on:
- The general condition of the property
- Any urgent or significant factors likely to materially affect the value of the property
- The value of the property in the open market
- The value for insurance purposes
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.
A structural engineer is required to carry out these reports, but please call our survey department and we can provide a recommendation for you.
Coopers Surveys Department
Phone: 024 7655 4300
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