Patterson Francis and Associates Blog
The chartered surveyors to trust
We offer high quality appraisals of residential and commercial properties and can prepare you a detailed home buyer report for Reading, Slough and Maidenhead properties. Buying a property is one of the most substantial financial outlays you ever make, and by engaging the services of a quality chartered surveyor you can ensure you are well informed about the property before taking the decision to buy it. This could potentially save you a fortune in repairs further down the line.
A crucial element of a property purchase is a mortgage survey, and it is important that you select the right one for you. Your mortgage application will always involve a basic mortgage valuation. This will be commissioned by your mortgage lender, and the purpose is to check the condition of a property to ensure its value is equal to the amount the lender is paying out. A mortgage valuation is specifically for the benefit of the lender as opposed to the buyer. The survey will not enter into details of the state of the structure or highlight any flaws the property may be in possession of.
The second survey we carry out is the home buyer’s report. The purpose of this survey is to investigate the present condition of a property in order to assist the prospective buyer with precise and accurate evaluation. The report serves to ensure that you are fully informed regarding condition and that you do not pay any more than you should when you make the purchase.
We also provide an estimate of market value that is based on our findings, rather than the asking price of the agent. The information presented enables every potential buyer to assess the entire situation and decide if the transaction should move forward at the current price. Furthermore, being furnished with full knowledge lets you ascertain a clear picture of any alterations that need to be made before you enter into a contract. This survey is in place for the benefit of the buyer alone.
The third option is the building survey, consists of a complete structural inspection. A building survey is suitable for all buildings but is particularly beneficial for older structures. A full survey is also advisable for any properties awaiting refurbishment or renovation along with properties that have previously been altered or extended. The building survey consists of a comprehensive check of the roof, walls, foundations and floors. We search for structural defects, wet and dry rot and inspect every door and window. We highlight any issues that may be present and deliver a detailed assessment.
We utilise our skills, experience and expertise to deliver you an excellent home buyer report in Reading, along with impartial advice and recommendations. Contact us today to learn more about our services.
Experienced and trustworthy chartered surveyors
When considering a property purchase, it is very important to make sure your appraisals and valuations are carried out by a reputable and experienced firm. As a building surveyor in Maidenhead, Slough and Reading, we provide a range of services. From structural surveys, homebuyer reports and mortgage valuations to schedules of condition, residential and commercial property surveys, we can deal with it all. Our role is to highlight and inform before our clients make any substantial financial outlay.
Buying a new home or a property for the purposes of letting is a monumental financial move, but also a potentially lucrative investment in your future. Prior to parting with a vast amount of money and signing anything it is imperative to ensure the condition of the property you are interested in is thoroughly assessed. When in need of a professional homebuyer report, you can depend on us to make sure that you do not overpay or face expensive repairs further down the line.
When you find a property you like it is natural to be concerned about the validity of the asking price. A homebuyer report is the perfect way of evaluating the price and condition. A house may look fine on the surface, but there can be many underlying problems and if this is the case you need to be aware of them before you proceed. The report will let you know the full extent of maintenance and repair requirements and the decisions that need to be made. A further benefit is an estimate of market value that is not based on the agent’s asking price but the actual findings of the homebuyer report.
We provide this particular survey for the benefit of the buyer as opposed to the lender as full disclosure of condition enables our clients to make informed decisions. All visible parts of the property are inspected by our skilled building surveyor in Maidenhead, and we provide a rebuilding cost estimate for flooding, fire damage and subsidence. We also provide details of necessary repairs and the urgency of each one. Additionally, the survey covers all legal issues, insurance rebuilding costs and any requirement for specialist reports.
The valuation of the property is always based on the current condition and we also investigate the numbers regarding recent property sales in the vicinity. The valuation price will also be altered to reflect the size of the property and the state of repair. The report and our efficiency provide all the information you need allowing you to take appropriate action if you wish to proceed with the transaction and exchange contracts.
Choose Between Survey and Valuation
When you are looking to buy a new home or an investment property, there are many factors that need to be considered. Once you’ve found your perfect property, you’re sometimes required to carry out a survey or valuation. These two items are different and the one that you may need will depend on the type of property you are buying. Usually, mortgage valuations are quite brief and they are typically to the benefit of the lender to help them determine how much they should lend against the property. There isn’t a significant benefit to the buyer, other than the fact that they’ll receive a limited report on the state of repair.
On the other hand, a building survey is far more comprehensive and not only includes a visible check of the structure put also the exposed and accessible parts too. It’s important that if your building is relatively old that you have a building survey completed to give you an idea of any potential issues or problems. A comprehensive inspection is carried out, encompassing each and every aspect of the property. Roofs are often inspected both internally and externally to ensure that they are good working order, damp levels in the building’s fabric are checked, and boundary issues such as paths and fences are examined. These are just a few of the many details our building surveyor in Slough will look for when providing a building survey.
Surveys and valuations are important because they help you to plan your budget accordingly. When buying a home you need to make sure that you plan your money, both for one-off expenses that will come up during the purchase and for monthly fees such as insurance costs and your mortgage.
We are highly respected as a building surveyor in Slough, Maidenhead and Reading, and we can offer comprehensive mortgage valuations and building surveys, offering a comprehensive service for all who need it. Whether you are planning on purchasing your own home or you wish to sell, we can make sure you are fully informed about the property and about the financial aspects involved.
As members of The Royal Institution of Chartered Surveyors and ESG, the UK’s only nationwide expert directory of chartered surveyors designed specifically for solicitors, we are dedicated to our client’s requirements. If you would like to know more about our services and how they can help you secure your dream home, call us today for further information.
Carrying Out Mortgage Valuations
For many people, a mortgage will be the most important contract of their life, as well as being a long-term commitment. Most people who take out a mortgage will be able to eventually pay it back along with the interest, ensuring that the lender takes no risk. However, as with all other financial commitments, there is always a risk that a customer won’t pay back the mortgage and may default on it. There is also an inherent risk that the lender may not pay the right amount of money, either too much or too little, in concerns to the actual property itself. As a trusted building surveyor in Reading, Slough and Maidenhead, we can also lend our services towards a mortgage valuation.
When it comes to actually discerning how much to lend, an accurate valuation of the property is required. A mortgage valuation is quite brief and not intended to be a full and comprehensive survey of the property. It is mostly done for the benefit of the lender, to give them a viewpoint into how much they should consider lending. It does not provide any significant insight into the actual condition of the property, nor does it provide any truly significant information that may be considered useful to the buyer themselves. It does, however, note down any key areas of degradation where repairs may be required, something which will naturally devalue the property.
Surveys are carried out by trusted independent parties who are generally members of the Royal Institute of Chartered Surveyors, such as our team. We utilise various systems and websites to give us an accurate valuation of a house and how much a lender should be willing to lend to a potential buyer.
The reports that we provide may be brief, but they are valuable to lenders, especially those selling properties that they see as high risk. They are not structural or full building surveys, but are rather surveys done for the benefit of the lender. If you are a lender and need an independent building surveyor in Reading or surrounding areas to carry out an impartial and accurate mortgage valuation, then our team are here for you.
New Home Inspection
Recently, the Royal Institution of Chartered Surveyors has released a surprising figure about new home owners. It is said that, on average, buyers are left with a £5,750 bill for repairs due to a number of shadowed problems including mould and structural defects. When you are searching for a new home, it’s easy to ignore any problem areas. Estate agents are able to offer advice and guidance on this subject but they aren’t able to deliver a high enough level of accuracy to fully protect your potential investment.
It is only qualified and experienced surveyors that are able to thoroughly assess a property to pinpoint any areas of concern or for further assessment. As it’s one of the biggest financial decisions that you’ll probably make in your life, it’s important to know that you’re putting your money in a good investment. If consumers aren’t aware of the problem signs to look for, it could leave them with a property they do not want any longer but aren’t able to sell.
Although you most likely won’t be able to find everything that is wrong with the property without the help of an expert, there are a few things that you can look for during your first viewing to help you decide whether it is worth even buying a survey. This could include looking for any cracks in the walls, ensuring that the water pressure is normal, or keeping an eye out for any bubbles in the wallpapering as a sign of damp.
We’re experts in property appraisals and valuations, offering a number of services to suit every requirement. If you need a survey or home buyer report in Maidenhead, Reading or Slough, we are the team you can trust. Whether you’re a commercial customer or residential, you can always be confident that we have the expertise you need to make the right decisions. As authorised members of the ESG and Royal Institution of Chartered Surveyors, we always adhere to guidelines and provide a complete solution. We can help you make the right investment.
Learn more about how we can help you by calling our team today. We commit our time to helping all clients and ensuring that they receive the best deal on their new home purchase by providing the most accurate surveying and home buyer report in Maidenhead and throughout the surrounding areas.
Potential Buyer Building Surveys
When you’re preparing to buy a property, you’re making a huge financial commitment. It is because of this that you need to truly know the building you are purchasing and what condition it is in. You will have been cheated if you pay the full price for a property that is in poor condition and you do not want to be spending additional money on repairs and maintenance. If you’re in need of a building surveyor in Slough, look no further than our team here at Patterson Francis Associates, where we can offer you thorough building surveys.
Between commercial and domestic property, you will spend a lot of money just purchasing your chosen property. You don’t want to be further dragged down by investing in constant repairs just to bring its condition up to par. Getting a true value of a building simply requires a full survey to be undertaken. By having a full survey performed on the relevant property, you will be able to see certain issues that would otherwise go unnoticed until you purchased the property. A building survey is relatively simple but is invaluable, and it certainly should not be skipped as it has the potential to save you a lot of money.
A building survey consists of a comprehensive inspection, followed by a full report and a list of recommendations to be carried out. The roof, windows and doors are inspected, and all floors are checked. Damp levels are checked and timbers are examined for signs of damage such as woodworm or rot. Systems such as gas and heating are visually checked, and external aspects such as paths and fences are checked as well. Walls and foundations themselves are also checked to ensure that the foundation is not faulty in any way. Once the inspection has been completed, we will draw up and provide you with a full report on the condition of the property. Also included will be a list of recommendations in regards to issues and calculated repair cost to let you know how much you will need to spend on repairs, and thus how much you should offer for the property.
As members of the Royal Institute of Chartered Surveyors, you can be fully assured that all surveys are carried out professionally and thoroughly. We pride ourselves on offering nothing less than the best possible standards of service and ensuring that every survey that we complete fully satisfies our customer and aids them with buying their property.
