Patterson Francis and Associates Blog
Hiring Building Surveyor
Surveying a property is important to both the buyer and seller. Purchasing and selling houses are amongst of the biggest deals you will make in your life and so you want to make sure that everything is done properly. With the help of a building surveyor you can arrange a comprehensive inspection of visible, exposed and accessible parts of structures to get a full idea of their current state and the overall value. We are proud to offer this service across Slough.
In 2010, results gathered from surveys determined that around 80% of home buyers don’t organise a building survey when acquiring a property. Considering the investment that a house purchase is, this statistic is troubling. If you buy a property and discover afterwards that structural problems exist and are serious, it can cost you money and may even result in the inconvenience of building work. Having a survey done can help you review the condition of the property prior to acquisition. In addition, it opens up the door to re-negotiations.
If you are buyer purchasing property via bank financing, you will have to get a mortgage valuation report before the lender will offer the funds. While it may sound similar to a building survey, you should never make the mistake of confusing the two. The report for the mortgage just reviews if the property is worth what the bank is loaning you and it isn’t their responsibility to point out defects. Building surveyors such as ours however are tasked with pointing out faults and the estimated cost of repairing them.
When you choose a survey from us we will look at the property in detail for you. As part of this the roof will be inspected both internally and externally if accessible, timbers will be checked for woodworms and rots, and windows and doors are examined, along with a number of other inspections. We will administer a full assessment of irregularities and provide cost estimates. The prices are all based on the BCIS cost index for building maintenance so they are reasonable quotes.
At Patterson Francis Associates we understand how much of an investment buying houses can be and so we make sure that you are paying what is right for the property. When it comes to a sale our report can help you to tackle repair and maintenance issues so you can get the best return. Our professional team are thorough when conducting surveys. If you are in need of our services, feel free to contact us.
RICS Maintaining High Standard Building Survey
As the leading choice for a trusted building surveyor in Reading we are, as you might quite expect, proud to be accredited members of RICS. The Royal Institute of Chartered Surveyors only awards accreditation to those qualified professionals who meet the highest standards of work in respect of building surveys, along with the delivery of comprehensive home buyer reports. It is important to understand that the process of attaining the accreditation is dynamic rather than a one off accomplishment or achievement.
Just as the nature of buildings and the way to survey them changes, so too does the expectations for reaching standards set by RICS. Whilst fundamentally the purpose of a building survey is, and always shall be, to give an account of the condition of a property, how this study is undertaken changes considerably over the years. The technology we use now, for example, to carry out surveys in order to deliver home buyer reports did not exist as recently as ten years ago. This makes keeping informed of the new RICS standards on an ongoing basis a vital aspect of our service delivery.
London recently played host to the 2016 RICS Residential Property Conference. This prestigious event is a highly anticipated event for many building surveyors every year, as it lets everyone within the sector share valuable knowledge and gain information about future requirements.
Of the many aspects of surveying discussed at the Conference this year, emphasis was placed on the ways in which new technology can be embraced as part of the work we do. Equipment and applications such as drones, 3D printing and modelling, cloud computing and wearable technology were discussed, with RICS sharing their guidelines for appropriate use.
Our approach to building surveys and home buyer reports has always seen us focus on ensuring that our clients experience the best service possible. Incorporating the guidelines and standards set out by RICS, whether at their annual conferences or by means of an ad hoc update, is one of the most important ways in which we ensure that this is what gets delivered. We were impressed with the updates and insights provided by the most recent conference, and we look forward to our valued clients experiencing the benefits of them soon when they choose us as their building surveyor.
Newly Improved Home Buyer Report
The main focus of our company is to provide valuations and surveys for commercial and residential structures to our clients in Maidenhead. When it comes to property that is more conventional or new, a Home Buyer Report allow you to evaluate your stance on a currently agreed transaction. It also gives insight into the extent of any repair or maintenance costs that need to be addresses.
During the month of July, the Royal Institute of Chartered Surveyors, a body with which we are associated with, introduced a new Home Buyer Report without a valuation. The long established report with one is still in use though. These reports include a description of each property element with colour-coded condition ratings, repair advice, an estimated market value and reinstatement cost, and comments relating to faults. The report without the valuation is largely the same, minus the reinstatement cost and value estimate.
Earlier in the year it was reported that the RICS was in favour of making valuation an optional part of these report. As it has done this, it means that RICS members that undertake surveys do not have to be registered valuers. In the past, the associate director of the institution referred to the Home Buyer Report carrying valuations as an anomaly, when other RICS products like the building survey and condition report don’t have them.
Regardless of the presence of a valuation, the purpose of the reports remains the same. They are designed to give homebuyers an exact idea of what they are investing in so they can negotiate the right deal for a property and reduce the risk of encountering unforeseen problems.
At Patterson Francis and Associates we take property matters incredibly seriously, providing the most thorough Home Buyer Reports possible. We want our clients to know precisely what they should be paying for a property in order to prevent them from overpaying for it. If you are interested in our services and would like to find out more, we would love to hear from you.
Building Surveyor’s Profile
Over the many years that we have been in business, our practice has gained extensive amounts of experience when it comes to commercial and residential property valuations and appraisals. Our building surveyors carry out a comprehensive inspection of all the accessible, visible and exposed parts of structures all over Slough. They do this to provide you with a complete idea of what the property is worth and to make sure that you aren’t paying too much.
Should you be the type of person that loves problem solving and has an interest in the construction and design of buildings, then you too can become a building surveyor. The surveyor administers professional advice relating to the structure and provides detailed reports that are known as building surveys. Defects are identified by them and they will also advise on the best maintenance and repair options.
In addition to their advising duties, the surveyors work on the design and development of new structures. This can range from designing multimillion-pound residences to much more modest repairs and adaptations. Sometimes, they may even be called upon to work on buildings of historical significance. Should they ever come across a breach in regulations, a surveyor can be called upon to give evidence as an expert witness in a court of law.
At Patterson Francis and Associates our building surveyors are amongst the best in the business. Property investments are huge financial decisions to make and as such, we want to ensure that our clients are making all the right choices. To achieve this we are ready to conduct a detailed assessment of a property, offer recommendations and provide our professional valuation. We strive to make sure every client understands the property they are buying and the state it is in.
If you find yourself in need of professional advice please feel free to contact us. We can offer tips and arrange to conduct a survey if you need one. We are flexible and work hard for each and every client.
The Value Of A Valuation
There are now technically two different types of Home Buyer Report; one with a valuation of the property and a second without. The move to expand them like this allows more surveyors to provide the reports. Previously the fact they contained a value meant that the surveyor had to be qualified to provide it. This restricted the number of providers.
With two types to choose from it is worth looking at the benefits that a clear, independent, non-biased valuation can offer. It is much more than simply a matter of stating how much the property is worth based on its condition and the current market. The information is actually a valuable negotiating tool and can help you to get the best for your money.
Properties are generally the most valuable asset that people purchase. They should always be viewed as a long term investment, particularly when you first buy them. If you overpay at the very beginning you need the value to rise more in the long term to make a good return. Ideally you want to get a great deal at the offset so you can enjoy a bigger return if the value rises. Having an independent valuation can help you to negotiate the deal.
When you view a property it is easy to get distracted by the current condition and base your value on it whether for good or bad. With a proper survey and valuation you can get an impartial insight based on the actual value.
At Patterson Francis and Associates we can offer a Home Buyer Report for clients interested in properties throughout Slough. Our team are highly qualified and can provide professional valuations in the document alongside all of the other useful information if you wish. Each value is calculated with care and based upon the knowledge and experience the surveyor possesses.
If you have any questions please feel free to contact us. We have provided surveys and reports for many years and built a strong reputation as a result.
The Inspection Of A Property
Property purchases generally involve a considerable sum, so you want to make certain that you do them correctly. A Home Buyer Report can help you here, as they look at the property as a whole and allow you to make a decision regarding the asking price. Not only this, but any outstanding maintenance and repair problems will be laid out to you in detail, giving you a complete idea of the property’s current state.
House surveys aren’t a legal requirement and with such a big outlay to make the purchase it may seem like an unnecessary spend. However, spending a little on a survey will save you both money and stress in the long term. Think of the report as a property health check, as it can reveal structural issues and permits you to ask the seller to rectify them before a sale can be finalised.
If the house you are looking to purchase is unusually shaped, possesses a timber frame, a thatched roof, is listed, or is just rather old, it will be well worth it to go through with the survey. Problems are more likely to pop up in these types of buildings. You may think that the inspection will be unnecessary for a new-build home, but poor finishing like wonky gutters and bad paint jobs are common occurrences for new structures. They can prove to be costly in the future if you don’t address them soon.
Home Buyer Reports are the middle ground in the survey world and are undoubtedly one of the most extensive of their kind. One to two hours are normally required for the surveys to be conducted, with a further hour needed for the valuation if you choose to have this information included.
At Patterson Francis and Associates, we can compile a Home Buyer Report for buyers throughout Reading and beyond. We believe the reports are the way forward to securing the best deal for yourself. A detailed inspection is undertaken, looking at all accessible areas in the property. The information we present will allow you to make more decisions that are informed on your deal. It also includes our recommendations.
If you have any questions about the content of a report, how it is presented, or what areas we look at in a property please contact us.
