PM Mcgibbon & Co

The HOMEBUYER, unlike a Building Survey, provides not only a survey but also a valuation as an integral part of the Service.

It focuses on essential: defects and problems which are urgent or significant and thus have an effect on the value of the property. It also includes other valuable information.

It is intended only for particular types of home: houses, flats and bungalows which are:

The reason is simple: the Mortgage Valuation report is prepared for the lender not for you, the borrower. It answers only the lender’s questions concerning the appropriate security for your loan. You cannot rely on it to answer the questions, which concern your personal interests.

Even if you are seeking a mortgage and may be paying for a Mortgage Valuation report it is still advisable and prudent to arrange a survey by your own surveyor. The Consumers’ Association Which magazine and the Council of Mortgage Lenders both give this advice.

Commissioning your own survey is the simple, economical way to avoid unpleasant and perhaps costly surprises after moving in. In some cases, the surveyor’s report may enable you to renegotiate the price.

The best way to reach an informed decision on’ such an important investment as a home, is to have a professional survey and valuation of the property which interests you. Before you decide to go ahead and commit yourself legally, you can minimise the risks by asking a qualified surveyor to answer these questions for you

What else should I know about the Homebuyers service?

This is an economy package. Because of the practical limits on the type of property and on the scope of its coverage, the HOMEBUYER Service is priced midrange more expensive than a Mortgage Valuation, but less than a Building Survey.

The surveyor’s main objective in providing the Service is to assist the prospective homebuyer to:

The surveyor also gives his or her professional opinion on the particular features of the property, which affect its present value and may affect its future resale.

The concise report covers the building inside and outside, the services and the site. It focuses on the defects and other problems, which in the judgement of the surveyor are urgent or significant, but it also covers:

The general condition and particular features of the property, particular points which should be referred to the client’s legal advisers other relevant considerations concerning, for example, safety, the location, the environment, or perhaps insurance. Matters, which are judged to be not urgent or not significant, are in general not included in the report, but the surveyor will mention matters judged to be both helpful and constructive.

Where the client has a particular concern - perhaps whether the property is suitable for a disabled person the surveyor will keep this in mind during the inspection. Or, a specific addition to the Service perhaps to the standard inspection may be agreed between client and surveyor.

Where necessary, the surveyor may also be able to provide some extra service which is outside the scope of the standard package perhaps providing a schedule of minor defects (for later discussion with a contractor), or arranging for the testing of mains services by suitably qualified specialists.

Where the client should take some action before deciding to proceed with the purchase, this is signalled clearly in the text of the report and included in the summary of action and other key considerations.