At Sterlingworth Surveyors, we understand that surveying is a vital process to determine the value of a property. Whether this is to preserve and ascertain the current condition of the property; assist in planning current/future repairs; general maintenance; determine land boundaries or give homeowners peace of mind. There are many reasons why property surveys occur.
A property survey is an independent professional opinion on a property. They involve a surveyor inspecting, researching, and evaluating the property in question, to judge its overall worth.
But, why are they important? Find out what you need to know from professional surveyors.
Are Property Surveys a Legal Requirement?
Property surveys are not a legal requirement, however, some institutions including insurance companies may insist a survey is carried out as part of their assessment. Surveys are generally commissioned as a document to protect and preserve the client’s interests. The prudent purchaser would want to know what it is they are buying into.
For example, an individual may wish to obtain a second opinion on the open market value of a property from a client’s perspective. In addition to this, clients may wish to know the full extent of any repairs.
Whilst they may not be a legal requirement, surveys are beneficial for you and your property long term. They can be extremely useful for a variety of reasons. For first-time homeowners, it can be that peace of mind that everyone craves. You want to know that the amount you have paid for a property is worthwhile. Especially if you plan on making that house a home. These surveys can be extremely reassuring, particularly in situations that require immense repairs before buying a property.
Also, certain aspects of a property’s structure could entail some owners hiring property surveyors; for example, if your home has a thatch roof or timber frame. These issues may be prone to accidents and a survey will accumulate the value of property to see if it is worthwhile in the long term.
Do Mortgage Companies Undergo Surveys?
In certain cases, mortgage companies will ask for a valuation to determine the market value of a property that they wish to secure a loan against. This way, security is ensured and the mortgage company is confident that the value asked for is accurate. But this is not a survey.
Such valuations may not highlight the condition of a property or make you aware of the full extent of repairs a property presents itself with.
Why Are Property Surveys Important?
Property surveys protect you from making costly mistakes. In addition, it will also give you legality when it comes to your land and wanting to obtain a title. Having a property surveyed before buying not only gives the potential buyer peace of mind, that what they are paying for is the correct amount, but it also becomes easier for them to build any kind of structure. Work with professional property surveyors to ensure you are getting the highest quality of service.
Our surveys are all tailored with the client’s interests at heart. If instructed, we act as your agents. We listen to your concerns which then allows us to provide a service specific to your requirements. We also provide RICS Red Book Valuations for a variety of reasons including (Help To Buy, Housing Association, Matrimonial, Probate, Portfolio, Development, Insurance Reinstatement, and more). Furthermore, we also provide defect-specific reports which can be used for litigation purposes.
At Sterlingworth Surveyors, we pioneer in providing you with a report tailored to your individual requirements.
We offer a wide range of services surrounding property surveying. All our experts are RICS qualified and complete high-quality evaluations that adhere to the highest standards in the industry. Our property surveys focus on delivering quality and catered customer service; tailored specifically to each client’s needs. Whether this is general property surveys or bespoke plans. We are here to help.
For more information, or to receive a quote, simply fill in our online form with your enquiry. A member of our team will shortly be in touch. Or, to speak to an expert today, give us a call on 020 7770 9908.