Charlotte Whincup: “Book your home survey asap!”
Surveys have the power to make or break a property purchase. And that’s as true for an office block in the City of London as it is for a semi in Surbiton.
As Bloom’s Charlotte Whincup tells Homebuilding and Renovating magazine’s reporter Sarah Warwick today, the increasing use of sophisticated desktop valuations by mortgage lenders is speeding up the once plodding process of getting a mortgage.
That’s why Charlotte advises: “Once you’ve chosen the property you want, I recommend you book a survey as soon as possible to get the ball rolling and ensure you don’t hold things up unnecessarily.”
“The RICS level 2 home survey is the most popular. These are thorough but non-intrusive surveys – meaning that the surveyor won’t drill any holes, look behind furniture or lift up floorboards to look for problems.
“In other words, it’s a primarily visual inspection, which will catch obvious problems like cracks, rot or mould, but may miss underlying issues. If the home you’re buying is newer and in reasonable condition, this may be sufficient.
“If you’re buying somewhere that’s older, made of unconventional materials or you have doubts about the condition, it’s best to choose a RICS level 3 home survey,” she adds.
“These are much more comprehensive and use a clear rating system from one to three to help you identify any issues and their seriousness. You’ll receive an in-depth report on the property, its problems and what they mean. This includes timings and costs, plus information on what happens if you don’t make the repairs.”