Valuations are the most basic and briefest form of inspection and report. This involves a very limited inspection of the property to determine the overall condition and current market value.
A typical valuation inspection may take only 20 to 30 minutes.
Such valuations are frequently carried out on behalf of Banks, Building Societies or other lending institutions to ensure that the property offers adequate security for their mortgage loan.
Whilst a copy of this report may be made available to you by the lender, it is most unwise to rely on the contents of this report to confirm that the property is free from defects that may affect your decision to proceed.
A similar report may also be provided for cash purchasers for a variety of other reasons, including Help to Buy Loan Redemption, probate (Inheritance Tax), part exchange, matrimonial (separation or divorce) and Capital Gains Taxation etc.
This type of report is not a detailed survey and it is, therefore, possible that there may be other factors or faults present in the property which could only be revealed by a more comprehensive inspection. A more extensive inspection and report might alter your decision to proceed with the purchase.
Why do I need a more detailed report?
A professional report prepared by a Chartered Building Surveyor and Registered Valuer will help you to:
- Avoid costly mistakes
- Check the purchase price is reasonable
- Highlight any drawbacks
- Minimise risk
- Discover any significant defects
- Prevent unpleasant surprises
- Provide peace of mind
David Beaumont & Associates
Chartered Building Surveyors
39 Central Avenue
Leicestershire LE18 2AB
0116 281 2865
David Beaumont & Associates is a trading name of D B & A Limited
Registered Office at 3 Leicester Road, Oadby, Leicester Leicestershire LE2 5BD
Incorporated in England and Wales. Registered No: 4190564