What is an RICS surveyor?

RICS (Royal Institute of Chartered Surveyors) is a UK professional organization for surveyors that serves at the authority level and strives to provide the essential standard value, management, and expansion of the estate, construction, and infrastructure. It was established as the organization of surveyors and became the Royal Institution of Chartered Surveyors (RICS) in 1947 with various regional and global offices.

The RICS is connected to other national surveying institutions, collaborates with other professional bodies, and, in 2013, was a founder member of a coalition to develop international property measurement standards. It also delivers cost information and professional advice on valuation and other stuff.

What is a home buyers survey?

Home Buyer Survey is a structural and construction inspection that is done by a surveyor that inspects the observable spaces in your property or home. Surveyor generates a report on the property condition and highlights the issues and defects.

How do surveyors value a property?

Surveyor valuing a property is an integral step in buying a property. When a surveyor starts evaluating the property, they look out through various factors related to the house or property. It is very crucial to understand the concerning factors.

The surveyor analyses the property by doing a physical inspection of the house. Before the physical inspection’s they investigate the location and analyze the local subjects that may influence the value. After this, they may check the documents regarding the lease extensions or any shared ownership details if necessary. They may also make linguistic questions to the selling agent before the physical inspection.

After a few of the analyses, they would proceed to the physical inspection that would include checking the complete situation of the property, examining if the details given regarding the property are accurate or not, whether the property was affected by any external calamities or not, or whether any structural issues are there or not. 

After the valuation process, if any issues are noticed, the surveyors will simplify it with the seller. Once the issues were clarified, the surveyors will compare the information and value with the local market. Furthermore, it may require specific reports if any structural problems arise. 

To wind up with the report, investigating, examining, and assessing executed in thoroughgoing inspections are a significant part of valuing the property.

How long does a house survey take?

The house survey takes time depending on the level of the survey that you have chosen and depends on the dimensions of the house. For instance, if you are choosing a basic survey, it may take an hour to get completed. The medium-level survey would take 3 hours. And a complete structural survey depends on the proportions of the property that vary and might even take a whole day.

When will I get my house survey report?

The house survey report may take time as it depends on the particular survey and on report complexness. The chartered surveyor will let you know how much time it will take to get the report, but still, it may be possible that it will take 5 to 10 days.

The cost of home buyers survey

A home survey can save you time and money; how much does the home buyers survey cost? The charges depend on the dimensions of the house. The more huge the report, the larger the home, the longer the surveyor will need to expend in analyzing and evaluating it. Leasehold Valuation has experienced chartered RICS surveyors who can efficiently value your property, whereas the cost of the survey/valuation is distributed in levels, and the cost varies too. It may cost you additionally if you need to have an extra notable survey. 

While having a survey done is worth it as it will make you conscious about any snags with the property. As mentioned above, the levels of surveys, if you are not opting for a survey, there may be vital concerns with the property that you will be unaware of till the process ends. Meanwhile, having a short-term cost of home valuation could help you avoid the surprising cost in the future. Most people have a complete layout survey each time they buy a new house to confirm that they hold a thorough report of all the problems associated with the property. 

New-build snagging survey

Are you buying a newly constructed home? Then you don’t need a complete home survey. What does a snagging survey mean? It includes inspecting rough plaster, tilted tiles, or clinging windows, and more. Some of the surveyors provide a piece of thorough information assessing construction problems that may charge more. By having a snagging report, you can share that with the builder so that the issues in the property get solved fast.

Leasehold Valuation specializes in leasehold valuations, lease extensions, lease enfranchisement, homebuyer surveys, asset management, and more. Our team of Chartered Surveyors is highly experienced and delivers an efficient homebuyer survey. Have a quick 10-minute free consultation with one of our RICS experts.