Chartered Surveyor, Honiton, Exeter, East Devon, offering building surveys, building valuations, estate planning, homebuyers report. Thatched
property valuations and cob property valuations. Expert Witness in boundary
disputes and other property and valuation disputes.
Expert witness - boundary disputes, property
and valuation disputes
Surveys
Valuations
Estate Management
Surveys
Do You Need a Survey?
You are probably about to take one of the most important investment
decisions of your life, and it therefore makes good sense to find out as
much as possible about your proposed purchase. It is not prudent to rely
wholly on your own subjective judgement.
A mortgage valuation report provides neither proper assurance, nor
adequate insurance. The lender is primarily interested in your ability
to repay the loan - the security of the property is of secondary
importance. Defects and maintenance liabilities may not be discovered
from a brief superficial inspection.
The cost of an independent survey is a small amount to pay for peace of
mind and to help you decide if your choice is the right one. 'Forewarned
is forearmed'.
There are two common types of
survey – Homebuyer Report and
Building Survey.
Homebuyer Report
This Report is designed as an economy package. However, it is based
on a full inspection of the property and is produced in a standardised
format produced by the RICS. It contains precise information on
significant defects or other matters likely to affect the value of the
property. It does not provide detailed descriptions of construction or
services and is not designed to cover non-urgent matters.
Building
Survey
A Building Survey is a detailed investigation into the construction
and condition of the property, produced in a comprehensive report
according to the style of the surveyor. The extent of the survey will be
subject to discussion and agreement with the client and may include
specialist reports (e.g. electrics). Defects are analysed and guidance
will be given on remedial work and maintenance. It is suitable for all
types of property.
Valuations
Valuations
Valuations may be carried out for a number of reasons but
(notoriously) often initiated by Death, Debt or Divorce. They are often
required for a proposed property purchase (or for lending security) and may
form part of a survey report. A valuation is a formal written document which
takes into account the location of the property, its age and condition, and
any other relevant factors.
Fees will vary depending on the complexity of the job, the value of the
property and the associated liability to the valuer.
How is Value defined?
Valuation standards and guidance on most aspects of valuation is given in the
RICS Appraisal and Valuation Manual, known in the profession as the 'Red
Book'. There are a number of alternative valuation bases, but the most common
is ‘Market Value'. For a full definition of this, or alternative methods of
valuation, please make an on-line enquiry.
Insurance valuations
Many people are confused about what is an insurance valuation. It relates to
the cost of reinstating the property, for example in the case of fire, and
must cover the cost of re-building, demolition, site clearance, architects’
and other professional fees. It does not bear any direct relation to market
value, and although usually less, can on occasions be substantially more.
ESTATE MANAGEMENT
Keith Luxton has experience in many aspects of rural property
management and is able to advise owners and property purchasers on the
following issues:
Letting and management of vacant land and property (including lease
renewals and rent reviews), Farm Business Tenancies, Commercial Lettings
etc.
Wayleave and Easement negotiations with public utility companies
including telecommunications mast installations.
Valuation for compulsory purchase, road widening, pipeline schemes etc.
For free RICS guide, click here
Town and Country Planning and Environmental Grant Applications.
Boundary dispute. For free RICS guide, click here
Expert Witness - Keith Luxton is
frequently called upon to act as an independent expert and has relevant
courtroom experience. View expert witness
Thatched property valuations
Cob property valuations