A Building Survey is the examination and investigation of a commercial property and services of a building in enough depth so as to enable an assessor to give an opinion as to what effect the state of the property will have on a potential customer/owner. Building surveys are therefore important for anyone who is interested in the purchase of a commercial property. These types of investigations are most commonly carried out by real estate agents, and although they may be able to do the work for you, it is better to employ an independent contractor to carry out the investigation. Using an investigator could prove costly and time consuming. This is why it is much better to use the services of an accredited and professional Building Survey Manchester company such as Sam Conveyancing.
There are some particular aspects that the structural integrity needs to be considered while carrying out a building survey, particularly when the property is being inspected for any defects or problems. Firstly, before doing the survey it is important to ensure that all internal doors and windows are closed properly. If there are any defective parts such as missing frames, broken doors or windows or other obvious defects, they should be rectified prior to beginning work.
While carrying out the building survey a Home Report will be completed. The Home Report will describe in detail the condition of your property and what was found inside. It will also describe the major problem areas and what action needs to be taken to correct them. The report should not include any details of the faults or defects, as these should only be discussed with the inspector during the on-site inspection.
Before a home buyer’s report is generated the inspector will request details relating to the above-mentioned structural and insulation inspections. He will then compare the Home Report with the original surveys carried out by the Surveyor and will compare the new information with the original data provided at the time of the original surveys. Differences between the two reports will be the basis of the valuation for the client. Once the valuation has been completed and approved the valuation will be made official.
The home report will identify the problems identified and give advice as to the possible repairs needed to bring the house up to current standards. This will usually mean an amount being added to the cost of the mortgage. Some condition problems will not necessarily need a large amount added to the mortgage but will affect the overall value of the property. It is essential that the condition is correctly identified so that the potential impact on the future repayments of the mortgage can be appropriately considered by the lender. A Building Surveyor will provide advice on what may be gained through a repair.
In order to complete the building survey satisfactorily, careful planning is required from all parties. Planning by both the surveyor and the home buyer will identify specific issues that require addressing, together with any recommended actions to overcome the structural problems. A complete building survey should include detailed recommendations as to the cost of any necessary repair works and the effect this will have on the eventual resale value. It is important to remember that the home buyer will ultimately have to live with the structural problems addressed and the resulting deficiencies unless they are resolved.