J.J. Dell & Co. Estate Agents carry out property surveys and valuations covering Shropshire and into the Welsh Borders and are qualified by the Royal Institution of Chartered Surveyors. J.J. Dell has practiced in the area for many years and has extensive knowledge and expertise in all types of property in the area. J.J. Dell & Co. is a completely independent practice and is not owned by a building society or bank, maintaining a sole allegiance to you, our Client. Great care is taken in the quality and content of our considered property reports and will always take time to discuss the property survey findings with you, so that you can make an informed decision about your purchase.
In the unlikely event of a problem, we have a strict complaints procedure and, being members of the Royal Institution of Chartered Surveyors, we are fully insured.
A good property survey can save you money and will provide you with considerable peace of mind.
There are different types of property Survey and Valuation reports available and our summary below explains what you can expect from each type of Property Report. For more detailed information, please do not hesitate to contact one of our Surveyors.
A Property Valuation in accordance with RICS Valuation Professional Standards.
Insurance Valuation and House Re-building Costs
It is important that your home is adequately insured, to ensure that you are covered in the unhappy event of partial or total loss by a fire or other insured risk, but also to ensure that you are not over insured and paying excessive premiums.
Buying a home is likely to be the largest single purchase you may ever make. It therefore makes good sense to find out more about the property you propose to buy, before being committed to it.
You can minimise the risks involved by asking a Chartered Surveyor to answer these questions for you:
- Is the agreed purchase price reasonable?
- Are there drawbacks I don’t know about?
- If so, what do I need to do about them?
Commissioning your own independent Survey, is the simple, economical way to avoid unpleasant – and perhaps costly – surprises after moving in.
Depending on the seriousness of any defects and the cost of necessary repair work identified, you could try to renegotiate the purchase price to reflect the cost of repairs in your offer, or decide not to purchase the property at all.
Different Types of Survey
There are two main types of survey:
- The Homebuyers Survey and Valuation (also known as HSV, HBSV or Homebuyer Report)
- The Building Survey
The Homebuyer Survey and Valuation Report (HSV)
The Homebuyer Survey and Valuation Report involves a more detailed inspection of the property than the Mortgage Valuation and is a service designed to provide the Client with useful information in an easily read and understandable format at a mid-range cost.
The HSV is a service designed for properties which are of conventional construction and in apparently reasonable condition.
An HSV includes the following information:
- The Property’s general condition
- Any significant defects which may affect its value
- Urgent and significant matters that need assessing before exchange of contracts, including recommendations for any further investigation by specialists
- Results of testing walls and floors for dampness and timbers for damage, including woodworm and rot
- Comments on the existence and condition of damp-proofing, insulation and the services (although the latter will not be tested)
- The recommended reinstatement cost for insurance purposes (the anticipated costs of rebuilding a property in the event of damage by fire or other insured risk). This is not the same as the market value of the property
- The value of the property will be assessed in the light of its condition, as found on the day of inspection
The main objective is to assist you, the prospective purchaser, in making a reasoned and informed judgement on whether or not to proceed with the purchase and to be clear about what decisions and actions should be taken before Contracts are exchanged.
The Building Survey
This is a comprehensive inspection, suitable for all property types, but especially recommended for:
- Listed buildings
- Property built before 1900
- Property which you plan to renovate or alter
- Property which has already had extensive alteration/extension
- Property which has been neglected and poorly maintained
The Building Survey involves a detailed examination of all accessible parts of the property and can be tailor-made to suit your individual needs and concerns.
Specific Defect Reports
In tailored report format to give client an assessment of a particular defect and technical advice on how to rectify the defect.
Schedules of Condition
The usual purpose of a schedule of condition, when attached to a lease, is to modify or clarify the repairing obligation. There is no standard approach for dealing with such schedules of condition. All that can be said is that the surveyor should consider carefully the drafting of the schedule of condition and the references to it in the body of the lease. If there is any uncertainty as to its application to the surveyor’s instructions, the client should be informed of the need for legal input.
The costs will depend on what type of Survey/Valuation you need. Prices will differ according to the type and value of the Property, its size, age and the likely complexity of the Survey. Contact our office for a free quotation.
Instructing Your Surveyor
Your instruction may be placed with us at J.J. Dell & Co. J.J. Dell will be happy to discuss any specific information you would like to know about the property you intend to purchase, and to make sure you fully understand what is and what isn’t automatically included in the Survey. Read the Terms and Conditions of Survey carefully and double-check with your surveyor if you are unclear about anything. Our Terms of Engagement will be sent to you after you have discussed and agreed the scope of the service and inspection need.
All of the above services are carried out a Chartered Surveyor and we follow a strict code of ethical conduct and professional standards.