Buying a house is one of the most important decisions you will make and more often than not one of the most expensive ones too!

Therefore it is crucial that you do all you can to ensure the transaction goes as smoothly as possible and having a survey is essential with this in mind.  It will give you a guide as to the market value of the property as well as helping to safeguard against any unpleasant/expensive repair and maintenance issues that may arise after you have bought the property.

Sutton Kersh, along with The Royal Institution of Chartered Surveyors, recommends that you have a survey of the property you are buying in order to safeguard against the issues mentioned above.

 There are three basic types of survey and valuation we offer at Sutton Kersh to assist prospective hombuyers as follows:-

Valuation Reports

Similar to mortgage valuation inspections carried out for banks, building societies and other lending institutions.  These are brief walk around style inspections intended for valuation advice only and do not include a detailed search for defects.

Homebuyers Reports

This is the most popular type of report commissioned by prospective house buyers. It is a budget priced survey in an easy to read pro forma style providing advice on both value and condition. It is suitable for most types of residential property but is less detailed and intense than a full building survey.  It is a MUST for anyone proposing to purchase anything other than a new build property.

Building Survey Report

A detailed condition report ideally suited for larger, older and more complicated residential properties, where the pro forma style of the Homebuyers Report would be inadequate.  It is often chosen for properties in need of renovation or structural repair where an intensive assessment of the building is required.  Building Survey Reports can also include valuation advice if requested.

To ensure you are empowered with knowledge in relation to the condition of your prospective property purchase, a survey and valuation is vital but before proceeding make sure the surveyor is registered and properly qualified.

If the findings of your survey show the property is worth less than you are paying for it, unfortunately you only really have three choices;

1. Go back to the vendor and try to renegotiate the purchase price based on the survey/valuation.

2. Take a view and pay the agreed price  even though  it is more than the valuation ( if in a financial position  to do so and you really want this particular property ).

3.Pull Out- this of course is a last resort but unfortunately this sometimes happens.

For more information or advice please contact Ian Crompton on 0151 207 9966 or visit www.suttonkersh.co.uk or the regulating body The Royal Institute of Chartered Surveyors at www.RICS.org.