This may be the largest single investment you make. Don’t make a mistake. Research shows that many buyers think that a mortgage valuation by a bank or building society is a survey that will reveal defects about the property. It does not. A mortgage valuation is a superficial inspection, typically taking 30 minutes or so, designed to tell your lender whether the property will offer security should you fail to make your mortgage repayments. Sensible and prudent buyers need a detailed report, from independent chartered surveyor, who has only your interest at heart.
The principal types of inspection are:
This is a concise report advising on the value of the property today. It is NOT a survey although it may give an opinion on the apparent condition of the property.
This is a much more detailed inspection. The report is a technical document, written in plain English, which may include photographs, a glossary of building terms and tips for future maintenance. It will highlight defects to the fabric and point out problems and issues that need rectifying either immediately or very soon after completion. These reports are well worth the investment.
These inspections are very detailed and may go as far as looking under floors, lifting drain covers and arranging specialist contractors in some instances, to follow a suspicion through to an informed conclusion. These are ideal where you believe a structural issue already exists e.g. settlement of the foundations, broken drains, tree root problems, etc.
If you are thinking of entering into a lease on a commercial property then you would be well advised to have an independent report on it’s condition. Lease terms usually involve the tenant accepting responsibility for the repair and maintenance of the property (this is often known as a full repairing lease). Our Report on Condition will provide an opinion of the condition of the property and how this will affect any tenant’s liability to repair under the terms of a proposed lease.
We can arrange any of the above for you. Please contact our office on 01132742033 and ask for a quotation.
All you will need to do is tell our staff what sort of property you are buying, where it is located and the price you are proposing to pay, along with any suspicions you have regarding defects to the structure.
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Thank you for all your help in the purchase, you were really helpful and understanding throughout and made the process fairly easy for me. Moores staff were really helpful when I interacted with them – especially yesterday when I came to collect the keys and arrived after the office shut! So thank you all very much!
-Mr S McCaffrey, who has just bought a property through MooresMore Testimonials