Pre-purchase Valuation Report
A pre-purchase valuation can be commissioned to advise you on valuer’s opinion working wholly on your behalf prior to buying. This can be in addition to any mortgage valuation (be mindful that is commissioned for the bank’s interest rather than yours) or as the primary report for cash buyers/businesses/part exchange acquisitions.
A valuation report does not undertake an inspection as detailed as a HomeBuyer report but will consider the general condition that is apparent together with comparative evidence for which you will be provided that forms the reasoning behind the valuation figure reported.
HomeBuyer Report (with or without a valuation)
The Homebuyers Report is an easy to read, colour coded report in a set format which describes all the major elements of the property, gives each element a colour coded condition rating, and advice about what to do regarding the defect noted. If requested with a valuation, the report also contains an opinion of value, a valuation figure and an insurance reinstatement valuation.
In addition to highlighting defects to the property, the Homebuyers Report also highlights identified risks to the building, e.g. dampness, timber defects, the possible threat to the building by the presence of trees etc. It also highlights risks to people such as if there is visual evidence of asbestos, lack of safety glazing, lack of test certificates to service installations such as electricity and gas.
The Homebuyers Report is suitable for houses that were built after 1900 and that have been well maintained. It is also generally considered the most suitable report for a flat or maisonette.
In some areas we cover we can offer a Building Survey to provide a ‘Level 3’ survey. The Building Survey Report is a much more detailed report, providing finer detail of minor defects that are not necessarily significant and that would not be expensive to rectify, as well as providing details of the major defects that are significant and would have an impact materially, as well as financially.
This Report is most suitable for properties built pre-1900, properties that are in poor condition or that have been extensively altered or extended.
A Building Survey Report does not include a valuation of the property, nor does it include an insurance reinstatement value. These figures can be included at an additional fee.