Surveys & Valuations
Do I need an Independent Survey?
In most cases the answer is "yes". If you do not have a survey then you are most probably at risk.
When looking at a property to purchase, don't just be guided by first impressions or personal feelings. It is essential that you take professional advice, preferably from someone with experience and knowledge of the area within which you are purchasing.
A survey can be undertaken at minimal cost in relation to the overall purchase price of the property and can offer considerable peace of mind that your acquisition is not going to prove to be a costly mistake.
Remember a mortgage valuation is NOT a survey, it is merely an assessment of the suitability of the property for a loan and will not provide detailed advice concerning the structure of the property. Too many purchasers rely on the mortgage valuation alone when buying a home. A private survey should be considered essential.
Godfrey-Payton undertake a wide variety of private surveys including the RICS Homebuyers Survey and Valuation, Defects Inspections and Building Surveys. We will be pleased to advise as to the most suitable survey for your intended purchase and provide a firm fee quotation upon request.
Homebuyer's Survey and Valuations are generally for standard post-1930s houses with no extensions or significant alterations. The report concentrates on significant matters and is of limited basic content following RICS guidelines. A re-instatement cost assessment (buildings insurance) and market valuation is included.
Defects Surveys are suitable for any property, particularly those pre-1930, those of non-standard design or any that have been altered or extended. The report, in letter written format, identifies significant defects but gives the opportunity for further in-depth comment over and above that possible within a Homebuyer's report. This report is meant to provide more appropriate over all advice. The report does not, as standard, include a re-instatement cost assessment or valuation, but this can be provided if required at a small additional charge (ie circa £50 plus VAT). This type of report can also be customised to allow the Surveyor to look at one particular aspect only (ie the roof or dampness etc) - fee quotation on request.
Building Surveys is suitable for all properties and provides a full picture of construction and condition including the roof, chimneys, walls, floors, ceilings, doors and windows. It is a more comprehensive form of report which is likely to be needed if a property is, for example, of unusual construction, dilapidated, has been altered, or where a major renovation or conversion is planned. A Building Survey will provide advice on existing or potential problems and identify suitable remedial work. The Surveyor will agree to comment on particular areas of concern, and terms and conditions of engagement can be agreed to suit individual cases.
Commercial Property Surveys are carried out for purchase to ensure compliance with lease terms, for dilapidations purposes, and at or approaching lease renewal or termination. Surveys upon commercial properties are tailored to the exact need of the client and can be presented in various formats dependent upon requirements. If required, a survey can also incorporate a freehold valuation, a rental valuation, and a reinstatement cost assessment.
All of our valuations are undertaken to the strictest of standards, in order to comply with current professional and legal guidelines.
We can value residential properties, commercial and industrial premises, development sites and agricultural land and farms.
Our valuations are usually based upon the standard Market Value* of the property. However we can take into account the benefit of tenancies and other income, or future improvement works, in order to provide you with more detailed advice.
* Market Value is the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arms-length transaction after proper marketing wherein the parties had each acted knowledgeably and without compulsion.
Our Surveyors are qualified members of The Royal Institution of Chartered Surveyors
Godfrey-Payton is an ISO9002 registered company.
We will ensure that the most suitable surveyor undertakes each instruction, but in the first instance enquiries should be directed to: