Frequently Asked Questions

About the RICS Homebuyer Survey and Valuation from Stephen Saunders

Why do I need a Homebuyer Survey & Valuation?

The main objective is to provide you promptly with a written report containing the information most people are likely to require in order to make a balanced judgement as whether or not to go ahead with the purchase of a particular property.

How much will it cost?

This is dependent on the size, age and location of the property. It costs more than a mortgage or professional valuation but less than a Building Survey (formerly known as a Structural survey). For a typical home it will cost from £325 for a modern two bedroomed semi rising to £695 and above for a 5 bedroomed detached Victorian house costing up to £750,000. Stephen Saunders is always pleased to quote according to individual circumstances. An additional copy is usually provided for you to give your Legal Adviser or Solicitor or sent direct to them.

What do I get?

Your comprehensive but concise and easy to follow Homebuyer Report will cover most aspects of the construction, services and condition and be about 11 or 12 pages long. It is set out in easy to understand straightforward sections. It includes a clear opinion on whether the price you have agreed is the price you should pay or a view as to what the correct price is. It may point you in the direction of getting estimates for repairs or specialist matters on some elements before making a firm financial commitment. The Homebuyer Report focuses on essentials and is limited to defects that are urgent or significant in that they have a material effect on the value. The contents are explained in more detail below and on other pages of this website including the Terms of Engagement and Choosing between Surveys.

What does it cover?

• An opinion as to whether the price you have agreed to pay, or are about to agree to pay for the property makes it a reasonable proposition at that price.
• Included are a description of the property, its construction and the location with relevant comments. Specific comments are given on any evidence of movement, timber decay, damp and level of insulation. Details of the condition of the various elements of the construction including the roof, chimneys, gutters, the brickwork, windows and other features. Comments are also made following an inspection of the loft, on ceilings, floors, walls, fireplaces, doors, kitchens and fitted furniture and the general state of the decorations.
• Observations, but not tests are made regarding services including electricity, gas, water, heating and drainage.
• The gardens, fences, garages and other outbuildings are briefly reported on.
• Other comments are made regarding any special concerns relating to leasehold properties including flats and maisonettes - or about any obvious rights of way that could be a concern.
• Whenever possible Stephen Saunders will ask the present owners a series of questions about any problems with the property and whether there are any guarantees or service arrangements you should know about.
• Stephen Saunders will also report anything he knows of the history of the property or the area or if he knows of any plans that could have an impact on living in the property.
• You will get a summary of any defects he has found and his recommendations for the next step in dealing with them. Also whether you need any specialist advice about any matter he thinks you need before going ahead.
• In addition to the valuation you also get his recommendations as to the correct figure to insure the buildings for - often very different from the value.
• In summary, the Homebuyers Survey and Valuation service is designed to answer most of the questions you should be asking about the property you are considering buying. Otherwise there could be serious faults you might not know about or learn of until after you've paid the price and moved in!

Why does the Legal Adviser need to see the Report?

Your Legal Adviser is unlikely to visit the property at all - Stephen Saunders will act as their eyes and ears. He will alert them of the need to make any appropriate extra enquiries and investigations regarding guarantees, rights of way, Planning and Building Regulations matters and other points only likely to be seen on an inspection. There are also points they need to be aware of when you are considering purchasing Leasehold property including most flats or maisonettes.

What do you look at?

As much as is readily and safely accessible without damaging the building or upsetting the owner. It includes looking in the roof space and checking for damp and woodworm etc., a fuller description is given on this website on the Terms of Engagement page.

Should I have a Homebuyer Survey and Valuation or a Building Survey carried out?

A Building Survey (which used to be called a Full Structural Survey) is sometimes the best option but Stephen Saunders carries out Homebuyer Surveys on most typical homes. A Building Survey might be more appropriate if there have been a lot of alterations and extensions, or these are planned, and you want technical advice on what has been done or what is proposed. These reports are prepared on a tailor-made individual basis according to the client's particular circumstances and requirements. They cost more. The Terms of Engagement for the Homebuyer service have a provision that, if on arrival at the property, Stephen Saunders feels this is not the right format for this property he would suspend the inspection and get your approval for the more lengthy and detailed type of report.

I'll be having a mortgage – won't the Bank or Building Society send a surveyor to inspect the Property?

Not always. Now sometimes Banks will assess the property from a database and/or simply a drive-by check to decide if the property is standing and not send anyone inside. It often depends on the size of loan and with some lenders you are not entitled to see any sort of report.

Can I use your Homebuyer report to get a mortgage on the property?

Usually no. Most lenders will, quite properly, insist on having their own report and valuation that is prepared by a surveyor that is directly or indirectly employed by them. Some lenders will accept a report prepared by Stephen Saunder but please enquire.

My lender is sending a surveyor to value the property for them and they have offered to combine this with a Homebuyers Survey Report and Valuation. Surely this is a better deal for me?

Remember the lender is selling you the finance and sometimes the surveying company has financial ties with the lender and the Estate Agent. It might be cheaper but do make a total cost comparison of having the lender's surveyor carry out a basic valuation for them, and using Stephen Saunders services for the Homebuyer Survey Report and Valuation. There often is still a cost-saving for you and you would then have the benefit of the opinion of two surveyors.

How quickly will I get my report?

Stephen Saunders aims to get your report to you within four working days following inspection. In urgent cases a preliminary verbal report can be given soon after inspection and the full report can be faxed or e-mailed.

When do I pay?

Stephen Saunders is required to obtain your written acknowledgement of the Terms of Engagement before sending the printed Report to you. He normally expects to have a cheque at that time and this isn't banked until the report is sent out.

I want you to go ahead – what happens next?

Stephen Saunders will need information about the property you want to buy and about any of your special concerns. If there is an estate agent involved he will normally make the arrangements for the inspection through them. If it is a private sale he will need information as to who to contact and he can then arrange this direct. He will need your current address and contact details so that the Terms of Engagement letter can be sent to you.

When I get the report can I talk over any matters?

Yes. Stephen Saunders hopes to answer most of the questions you are likely to ask or want to know within the report but he is happy to discuss any particular concerns that you may have.

Home