Sunday, July 1, 2007

Survey completed

The surveyor arrived complete with torch, ladder, clipboard, checklists, Dictaphone and pen. According to the RICS “There are approximately 1.4m house sales each year in England and Wales. Of these, only 1 in 5 currently commission any sort of survey on the property.”In fact we’re not having a survey on the perfect house. It needs lots of work and a survey will tell Mr Bridger and I exactly what we already know.Buyers may opt for various surveys until HIPs are introduced. The surveys includeMortgage valuation surveyHomebuyer reportFull building survey Our buyers have selected the Homebuyer report, which according to the RICS websitefocuses on essentials: defects and problems which are urgent or significant and thus have an effect on the value of the property. The homebuyer, unlike a building survey, provides not only a survey but also a Valuation as an integral part of the service.The general condition of the property Any major faults in accessible parts of the building that may affect the value Any urgent problems that need inspecting by a specialist before you sign a contract Results of tests for damp in the walls Damage to timbers – including woodworm or rot The condition of any damp-proofing, insulation and drainage (though drains aren't tested) The estimated cost of rebuilding the property after a fire, for building insurance purposes The value of the property on the open market.The surveyor started on at the top of the house and worked his way down. Then he checked the roof space, hence the torch.All seems ok, but you never know. Being miles away from any rivers helps at this moment in time.