Right to Buy Valuation

Make sure you know as much as you can about the true condition of your building, property or future home before you commit to buy – Protect your investment.

Having a survey undertaken is a vital step in protecting your investment.

Mortgage valuations are for the welfare of the lender and NOT the buyer

Many people do not realise that a valuation of a property does not go into detail about the condition of a property but rather it is an assessment of the value of the property for lending purposes. It will only highlight the most serious defects that could impact the value of a property. It is not a detailed reporting of all the defects, repairs and maintenance that would be required to maintain the property.

Buyers who do not get a survey face on average £5,750 in repair costs

Surveys highlight defects that may not be obvious to an untrained eye. Some of these defects can get progressively worse over time if they are not remedied immediately after moving into a property. The Royal Institute of Chartered Surveyors (RICS) found through research that 17% of these cases ended up paying more that £12,000 on average.

Surveys can be used to renegotiate property prices

Some defects highlighted in a survey can be very costly. This can be taken into consideration when renegotiating the purchase price. On the other hand, defects can be raised to the seller, and you may be able to request these issues be rectified before the purchase is complete.