Residential Surveys & Valuations in Yorkshire and Derbyshire

Full Building Survey – Level 3

A Residential Building Survey is described by RICS as:

A comprehensive, tailored report, including a structural survey of visible and potential problems. This report is designed for large, older or unique properties.

A Residential Building Survey will include:

• Diagnosis of defects, and detailed advice on repairs and maintenance.
• A full description of the condition and construction of each element of the property.
• An overall assessment, including an overall opinion and summary and suggested further investigations.

The Building Survey can include:

• A Market Valuation.
• A reinstatement cost for buildings insurance.

Homebuyers Report – Level 2

This is described by RICS as:

The most popular report for buyers. A complete diagnostic report, including a valuation element, suitable for the majority of residential properties. It clearly presents all findings in an easy to read format.

The HomeBuyer Report includes:

A description of the condition of each element of the property

• Colour coded condition ratings
• A Market Valuation
• A reinstatement cost for insurance
• An overall opinion

It does not include:

•  Cost estimates for repairs
• Any detailed description of the construction of the building or detailed advice on specific defects.

The RICS HomeBuyer report focuses on any areas requiring urgent repair, or that are significant and have an effect on the value of the property. RICS refer to this as “an economy Survey”? and it is in a standard format. The purpose is to provide you with information to make a reasoned and informed judgement on whether or not to buy the property at the agreed price, and whether you should obtain any further specialist advice.

We are often appointed by a Court Order as a “Joint Single Expert”? acting independently to value property for this purpose. We can also represent either party before, or during Court proceedings.

These can be provided by an estate agent, often free of charge, but these are more likely to be challenged by HMRC than a properly and professionally prepared report. We will provide the information that is expected and required by the authorities for a probate valuation, giving you greater confidence in the outcome.

We have details of property transactions going back to 1982, which is often the base date for CGT calculations. This enables us to provide you with an accurate and reliable valuation, to help you or your Accountant determine and agree a CGT tax liability, based on any date back to 1982.

It is important that your home or business property is insured at a figure high enough to satisfy the requirements of your insurers. We calculate the theoretical rebuild cost of your home by reference to industry approved and regularly updated data. The rebuilding cost may be significantly higher, or in some cases lower than the Market Value, and is not to be confused with it. You do not wish to be over insured and therefore paying too much, but in the event of a major claim, the cost of being under insured could be very significant as the insurer may pay only a proportion of your claim.

We will inspect your property and provide the required information for your buildings reinstatement valuation.