E.Surv - Surveys and valuation Guide
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E.Surv - Surveys and valuation Guide

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This presentation is a guide to our services for porfessionals or first ime buyers of porperty. This lists down the services offered by E.Surv.

This presentation is a guide to our services for porfessionals or first ime buyers of porperty. This lists down the services offered by E.Surv.

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    E.Surv - Surveys and valuation Guide E.Surv - Surveys and valuation Guide Document Transcript

    • E. UK A guide to our services Professional, independent property advice Part of the LSL Property Services plc Group
    • Do you own a house, or are you buying a new home? Looking for your first property, or a portfolio investment? There are lots of different situations when it comes to property, but as independent property experts it’s our job to help you make better property decisions. Buying a house? Buying a house is one of the most important financial decisions of your life. Surveys and valuations are an essential part of any home purchase; they provide information to ensure your sale proceeds without difficulty. In this guide we aim to set out clearly the differences between the surveying products available to you when buying your next home. “As a surveyor, I love talking customers through their survey and making sure they fully understand it.” VICKI LAWSON MRICS CHARTERED SURVEYOR CENTRAL LONDON If you’re buying or selling a property in Scotland, the process is different to the rest of the UK. Scottish Home Reports came into force as part of legislative changes in 2008, and our e.surv Scotland team can help with every aspect of homebuying following these changes. Wherever you’re buying, if you’re choosing a brand new property from a housebuilder, then as part of your purchase you have up to two years to submit your snagging list of defects for them to rectify. Make sure you identify every fault with your brand new home with a professional snagging report prepared by a fully qualified surveyor before you move in to avoid issues later down the line when your warranty has expired. Existing home owner? Once you’ve bought your new home or investment property, it’s important to protect your purchase. Houses are living, breathing objects that change over time. PropertyCare is a product uniquely designed by e.surv to help homeowners understand how their home has changed over time, and help budget for unexpected repair costs following the inspection. When buying a property on a leasehold tenure, it is part of the conveyancing process to check the length of time remaining on that lease. Most people are unaware that the lease will require an application to renew, and that this is a process which requires expert advice. At e.surv, we’re confident in arranging lease extension valuations as part of the process of extending a lease, and we’ll negotiate with your freeholder on your behalf. So whether you’re buying a new home, or you already own a property, we’re sure we can provide you with the right products to help you make the most of your property.
    • Surveying products Surveys are professional reports carried out by fully qualified surveyors to give you independent advice on the condition of your new home. Many purchasers still wrongly rely on their lender’s mortgage valuation for this information. In fact, the mortgage valuation is a report a lender requires to approve the loan for your purchase, and is not designed to give you reassurances on the condition of the property you are looking to purchase. Here’s a summary of the four survey and valuation products, and what they offer: Mortgage Valuation: RICS Condition Report: A Mortgage Valuation Report is prepared for your lender to help them decide if your new home is one that they want to secure a loan against. The lender’s Mortgage Valuation only answers the questions your lender has as to whether the property offers suitable security for your loan. It doesn’t answer questions that may be important to you about the condition of the property you’re looking to buy. The RICS Condition Report gives a clear and concise “snap shot” of the condition of your potential purchase on the date of inspection. This is your survey report, prepared independently for you and not your lender. The RICS Condition Report is a survey which includes an inspection of your home. There is also a section which provides you with advice for your conveyancer, with a clear summary of the key risks associated with purchasing your new property. The report uses a simple traffic light (red, amber, green) colour coding system to rate individual elements of the property, and highlight any areas of concern. The report covers all aspects of the property, risks and legal considerations. When a surveyor carries out a Mortgage Valuation for your lender they will only alert them to the issues with your property that have a material impact on the lending decision. What this means is that they may not include any defects within the property that could be significant to you. This is why it is always recommended that anyone looking to buy a property requests their own independent survey which clearly describes all of the defects relating to the property before committing to a purchase. • • • • • Prepared for your lender Concise report Focused on the lender’s requirements Limited questions Liability to purchaser restricted Want to learn more? Visit esurv.co.uk or give us a call on 0800 169 9661 The RICS Condition Report provides you with an overview that will help you understand the construction of the property you are buying, any serious problems needing attention and any areas of further investigation that need to be undertaken prior to commitment to purchase. This survey type is an economic report that provides you with important information that a Mortgage Valuation does not. • • • • • • • Prepared for you as the buyer Victorian to modern property styles Urgent and serious defects Matters for conveyancer Risks associated with purchase No advice on what to do next No valuation or rebuilding cost Buy with confidence visit esurv.co.uk or give us a call at 0800 169 9661
    • RICS HomeBuyer Report: Building Survey: The RICS HomeBuyer Report provides information on the condition of your property and advice to your conveyancer. What the RICS HomeBuyer Report has in addition to The RICS Condition Report is our professional advice on the issues that may affect the value of your property, plus a market valuation and insurance reinstatement cost. There will also be a dedicated section to provide advice on repairs and ongoing maintenance requirements. The Building Survey is the most detailed survey we offer. It is particularly suited to older buildings, those of an unusual construction, or those with major extensions or alterations. The Building Survey is also the best choice where you know there are significant defects that need attention. The report will provide details on the materials and methods of construction, advice on defects, and the appropriate repair options. Where The RICS HomeBuyer Report is suited to modern properties of standard construction, the Building Survey is specifically designed for properties of virtually any age, style or condition. The report uses the RICS red, amber, green colour coding system, just like The RICS Condition Report, and may pick up issues including damp, timber and structural movement. This report is perfect for providing you with detailed information on the most urgent or serious issues with your potential purchase. When you receive your report the defects of your property will be highlighted, so this means you’ll be able to judge the value of your purchase in line with any budget you may need for future works. Investing in a RICS HomeBuyer Report before purchasing your home will help you predict what any future maintenance expenditure, plus repair or restoration costs may be. • • • • • • • Prepared for you as the buyer Victorian to modern property styles Urgent and serious defects Matters for conveyancer Risks associated with purchase Advice on what to do next Valuation and rebuilding cost Want to learn more? Visit esurv.co.uk or give us a call on 0800 169 9661 Many older properties have distinct needs in terms of how they must be looked after and their components need a different approach to more modern buildings. It is essential to understand this in order to preserve and enhance the value of your investment. Listed buildings or those in conservation areas need specific care and use of correct materials and techniques. If you are planning to purchase an older property that’s run down, or a building that has had major alterations, then this is the report for you. If you have plans to alter the structure of the property this can often form part of the advice provided. If you plan to make a substantial investment in a property of age or character, then this report is an important safeguard. • • • • • • Prepared for you as the buyer Any age of property Detailed appraisal Matters for conveyancer Comprehensive advice Valuation and rebuilding cost Buy with confidence visit esurv.co.uk or give us a call at 0800 169 9661
    • Product Matrix Compare our products side-by-side to see which type of report is right for you. Mortgage Valuation RICS Condition Report RICS HomeBuyer Report Building Survey Mortgage Valuation Completed by a fully qualified Surveyor Building Survey An Inspection Suitable for you RICS HomeBuyer Report Includes: Suitable for your lender i.e. tells them whether the property is a suitable security for your mortgage RICS Condition Report Highlights parts needing urgent attention Tells you the condition rating of the property Clear traffic light ratings Advice to your legal advisors Helps you identify possible problems that could help with price negotiations Professional advice from your surveyor e.g. ongoing repairs and maintenance Will help you avoid expensive repairs after completion Market valuation Suitable for any property Building reinstatement costs for insurance purposes Suitable for properties 1850 - to date and standard construction Comprehensive report on construction and defects Ideal for sellers You can see what other customers said about our surveying products by reading their reviews on our website. Take a look at www.esurv.co.uk Aftersales Support: Helpline Speak to the surveyor before the inspection Speak to the surveyor before and after the inspection Read customer reviews at www.esurv.co.uk Want to learn more? Visit esurv.co.uk or give us a call on 0800 169 9661 Buy with confidence visit esurv.co.uk or give us a call at 0800 169 9661
    • New Build Snagging Report Buying a new build property has many advantages, such as having the freedom to choose fixtures and fittings and the perfect plot for your individual circumstances. But a new build property is never perfect, and developers ask homebuyers to prepare what is known commonly as a Snagging Report of the faults they find at their new home. Some homebuyers feel confident enough in their own ability to identify defects to prepare the Snagging Report themselves. However, it is often useful to arrange for a professional surveyor to complete the report ahead of you moving in so that the defects can be corrected at the final stage of build. “A survey from us will give you professional advice on the condition of the property you want to buy.” You have up to two years in which to submit your list of defects, or Snagging Report to your housebuilder. If you select e.surv to carry out your Snagging Report on your behalf then a fully qualified RICS surveyor will be sent to your new property to identify any faults that your housebuilder may have missed. They will confirm whether the property has been finished to an acceptable build standard, as well as listing any defects to be rectified before you complete your purchase. Once your report is completed you will receive a copy of this by email, and a copy will be posted to you to pass on to your housebuilder. Price Flats From £160 inc VAT Houses GARY WINGROVE MRICS CHARTERED SURVEYOR WARWICK Types of property From £185 inc VAT Please call for a quotation Want to learn more? Visit esurv.co.uk or give us a call on 0800 169 9661 Buy with confidence visit esurv.co.uk or give us a call at 0800 169 9661
    • Scottish Home Reports In 2008, the law changed so that most properties marketed for sale in Scotland must be presented with a Home Report. The Home Report consists of three documents: The Single Survey, The Energy Report and The Property Questionnaire. The Single Survey The Single Survey provides potential buyers with information about the condition of the property, and gives an indication of value. Using the information from this report, potential purchasers can make an informed decision about whether or not to make an offer. As part of the Single Survey, an Accessibility Audit is included, which provides information on the accessible features of the property. This helps parents with young children, elderly people, and those with disabilities decide whether the property will be suitable when considering future living arrangements. The Property Questionnaire This element of the Home Report brings together useful information on the facilities and services at the property. Solicitors, surveyors and potential homebuyers will all rely on this information to highlight any potential areas for further investigation as early as possible in the transaction. Information typically includes council tax banding, parking facilities, and the availability of gas and electricity at the property. The Energy Report Every property will have an energy rating, which provides information on its impact on the environment. This report will highlight the areas within a property where potential energy savings could be made, and general recommendations on energy efficiency. You should note that a Home Report has a valuation which is only valid for three months. Therefore it will be necessary to arrange a Replacement Home Report after this time once a buyer has been found, or sooner if there are any significant changes to the property. Want to learn more? Visit esurvscotland.co.uk or give us a call on 0141 418 1008 Buy with confidence visit esurvscotland.co.uk or give us a call at 0141 418 1008
    • London Specialists As the country’s largest surveying practice, we have a wealth of experience in property surveys and valuations, whether they are for home purchases, investment or key life milestones. Our London specialists are local experts, having worked in the capital for many years. They are attuned to the unique market cycles, property types and common obstacles faced with London property. Buying in London? If you’re buying a new property in London, as either an investor or owner occupier, then it’s important to consider having a survey as part of the homebuying process. Refer to our survey and valuation product information at the start of this guide to find out more about these products. The e.surv Capital team is also experienced in offering acquisition advice if you’re new to buying in London, or moving to a new part of the city. To find out more about how acquisition advice can give you a better insight into the area you’re considering purchasing in, please visit the e.surv Capital website. Selling in London? The London property market is fiercely competitive, and the e.surv Capital team is knowledgeable in offering pre sale appraisals to help homeowners get their properties ready for marketing in order to achieve the best possible selling price. Existing homeowners in London Extending a lease protects the saleability of a property, and if extended sooner rather than later ensures a lower premium can be negotiated. Please see our guide on lease extensions over the page to find out more about lease extensions. Properties suffer from general wear and tear, and change over time. Whilst you may check your property’s condition aesthetically for any tell-tale signs, only having your property professionally inspected will give you an independent view of the true condition of your property. The e.surv Capital team helps homeowners living in London maintain a healthy home, offering advice on energy efficiency, and providing likely repair costs for defects identified in order to help budget for necessary maintenance works. Meet our London specialists and find out more about the services they offer by visiting esurvcapital.co.uk Want to learn more? Visit esurvcapital.co.uk or give us a call on 0800 169 9661 Buy with confidence visit esurvcapital.co.uk or give us a call at 0800 169 9661
    • Meet your local surveyor From Penzance to Inverness, we have more than 400 dedicated local surveyors throughout the UK, with specialist teams in London and Scotland. Visit www.esurv.co.uk/faces and enter your postcode to find your local surveyor, or if you know a surveyor personally or by recommendation, you can enter a name to view their professional profile. “Understanding the condition of the property you’re looking to buy should be important to you; it is to us.” TOM MCLEAN ASSOC RICS SURVEYOR HUDDERSFIELD When buying your property, have it properly checked by a professional. Many purchasers still wrongly rely on a lender’s mortgage valuation thinking it’s a survey, when unfortunately this isn’t the case. 0800 169 9661 www.esurv.co.uk/faces
    • Lease extension PropertyCare When you purchased your leasehold property, you’ll have been made aware of the time left on your lease term. What you may not have realised is that leases are not automatically renewed when they expire, and you need to make an application to your freeholder to extend or renew your lease. General wear and tear and changeable weather conditions can soon turn into serious issues for your home, and your wallet. But, if you catch them in time you can easily stop costs spiraling out of control. If you’ve owned your property for more than two years then you are able to start the lease extension process, and the sooner you do the less it will cost you. If you choose not to extend your lease then this will have a serious impact on the value of your property, and may impact on your ability to sell it in the future, as mortgage companies require a minimum term to remain on a lease as part of their lending criteria. Having a short lease may also impact on your ability to remortgage your property. Find out more about the process for extending your lease and how we can help. More information on lease extension is available on our website, or you can talk to one of e.surv’s lease extension specialists by calling 0800 169 9661. You can stop unexpected costs now by arranging an e.surv PropertyCare inspection for your home. This report is designed to give you a detailed picture of the condition of your house, expert advice on solving any current problems, and helpful guidance on maintaining a healthy property for your future. • Obtain a clear picture of the condition of your home • Identify the areas of immediate concern and those that you should keep an eye on over the next few years • Avoid defects worsening and costs escalating, and help budget for repair work • Expert advice on solving current problems and future maintenance PropertyCare for Landlords If you’re a landlord with an investment portfolio, solving problems when they are raised by tenants or managing agents can be costly. With PropertyCare it is possible that by having your properties regularly inspected by a fully qualified surveyor you can keep unexpected maintenance bills at bay. This can also help you create a cyclical maintenance plan for the costs over the coming years. ra n c e • ra n te e d su ty r Want to learn more? Visit esurv.co.uk or give us a call on 0800 169 9661 ua P ro p e Helpful advice on lease extension G Visit our dedicated PropertyCare website for more information on this report type, and also to find useful information on common property defects. C a re A s Buy with confidence visit propertycareplus.com or give us a call at 0800 169 9661
    • For more information please visit the Information Centre on our website www.esurv.co.uk thinkGreen FS 36777 Regulated by RICS Part of the LSL Property Services plc Group e.surv Ltd. Lahnstein House, Gold Street, Kettering, Northants, NN16 8AP. Registered in England, Company No: 2264161. Regulated by RICS 0030ES/1