Frequently Asked Questions

Frequently Asked Questions

1. Why do I need my own survey?
2. What choice of surveys do I have?
3. I already have a Mortgage Valuation report
4. What else should I know about the Surveying Process?
5. What are Energy Performance Certificates (EPC’s)?
6. What are Snagging Lists?
7. What are Reports on Specific Defects?

Why do I need my own Survey?

Before you decide to go ahead and commit yourself legally, you can minimise the risks by asking a qualified surveyor to answer these questions for you:

• Is the agreed price reasonable?
• Are there drawbacks I don’t know about?
• If so, what do I need to do about them?

Commissioning your own survey is the simple, economic way to avoid unpleasant – and perhaps costly surprises after moving in. In some cases, the Surveyor’s report may enable you to renegotiate the price.

Even if you are seeking a mortgage – and may be paying for a Mortgage Valuation report – it is still advisable and prudent to arrange a survey by your own surveyor.

The Consumers’ Association Which? magazine and the Council of Mortgage Lenders both give this advice. The reason is simple: the Mortgage Valuation report is prepared for the lender – not for you, the borrower. It answers only the lender’s questions concerning the appropriate security for your loan. You cannot rely on it to answer the questions which concern your personal interests.

What choice of surveys do I have?

RICS members offer two forms of survey which are specifically designed for homebuyers:

Building Survey (formerly called a ‘Structural Survey’)

The Homebuyer Survey & Valuation (usually called ‘The Homebuyer Service’)

Please refer to Products & Services to assist in identifying which of the two types of survey may be more appropriate.

I already have a Mortgage Valuation report

Even if you are seeking a mortgage – and may be paying for a Mortgage Valuation report – it is still advisable and prudent to arrange a survey by your own Surveyor. Both the Consumers’ Association Which? Magazine and the Council of Mortgage Lenders give this advice.

The reason is simple: the Mortgage valuation report is prepared for the lender – not for you, the borrower. It answers only the lender’s questions about the appropriate security for your loan. You cannot rely on it to answer the questions which concern your personal interests.

What else should I know about the Surveying Process?

The Surveyor’s main purpose in providing the Service is to assist the prospective homebuyer to:

• Make a reasoned and informed judgement on whether or not to proceed with the purchase
• Assess what would be a reasonable purchase price for the Property where a valuation is provided as part of the Service
• Be clear what decisions and actions should be taken before contracts are exchanged

The Surveyor also gives a professional opinion on the particular features of the Property which affect its present value and may affect its future resale.

The concise Report covers the building both inside and outside, the services and the site. It focuses on the defects and other problems which, in the judgement of the Surveyor, are urgent or significant, but it also covers:

• The general condition and particular features of the Property
• Particular points which should be referred to the Client’s Legal Advisers
• Other relevant considerations concerning, for example, the location, the environment, or perhaps insurance

Matters which are judged to be not significant or not urgent are generally not included in the Report.

The Surveyor may, however, comment on any other matters judged to be helpful and constructive.

Where the Client has a particular concern – for example, whether the Property is suitable for a disabled person – the Surveyor will, if asked, keep this in mind during the Inspection. Or, client and Surveyor may agree on a specific Addition to the Service.

In some situations the Client may ask the Surveyor to provide an extra service outside the scope of the standard package. For example, the Client may ask for a schedule of minor defects (for later discussion with a contractor), or the testing of mains services by suitably qualified specialists. The Surveyor may be prepared to arrange such extra services, but they cannot be undertaken as part of the Homebuyer Service: they require a separate contract.

What are Energy Performance Certificates (EPC’s)?

EPC’s look similar to the energy labels found on domestic appliances. The energy efficiency and environmental impact of a property will be rated and current running costs for heating, hot water and lighting will be shown on the certificate. The EPC gives prospective purchasers and tenants information on the energy efficiency and carbon emissions of a building

The EPC will also contain a recommendation report which will suggest improvements and the approximate cost and possible cost savings per year if they are made. A vendor or landlord does not have to act on the recommendations in the report

EPC’s can only be produced following a survey by an accredited Domestic Energy Assessor, they will feed the information into a government approved software package to produce the EPC

All EPC’s must be registered by the energy assessor and stored in the national register at   http://www.northgate-dea.com/ with a unique reference number

What are Snagging Lists?

A detailed snagging list is often prepared to highlight defects in a new property, which can then be given to the Developer for him to rectify or in order to renegotiate the price of the property.

What are Reports on Specific Defects?

This provides diagnosis and recommendations for further action reporting on one or two issues at a property, for example roof coverings and structure, structural movement such as subsidence or issues of dampness and dry rot.