It is widely recognised that purchasing a new property, whether it be residential or commercial, is one of the largest transactions a private person ever enters into.
Economists refer to property as being a 'lumpy' investment, by this they mean that there are always large sums of money involved when one purchases or leases a freehold interest in a property. A small residential flat will cost £80,000, a large residential house can run to several millions of pounds. Due to the size of investment it is always prudent to have a survey commissioned on the property before you finally commit to purchase to ensure you are acquiring what you think you are being offered.
Timothy Lea & Griffiths, a team of surveyors who are also regulated chartered valuers, are able to offer a comprehensive survey service simply by having these two specialisations. We can take an independent unemotional view of the property and ensure you avoid purchasing a potential home or business premises with serious structural faults, which can result in costly repairs to be put right, which only become noticeable once you have moved in.
There are three types of survey report:
This provides an objective overview of the condition of the property. It will highlight areas of major concern, but without extensive detail. The report is printed on a standard RICS template.
Homebuyer Valuation Report
This report is more detailed and includes a check on the property’s valuation and is also produced on a standard RICS template. The report will give advice on any defects that may affect the value of the property, along with recommendations for repairs and ongoing maintenance.
It excludes cost estimates for repairs and any detailed description of the construction of the building, or detailed advice on specific defects. Any defects found during the inspection will be listed as this might affect the valuation of the property due to potential repair costs and ongoing maintenance costs.
This report is a good choice if you have concerns about the state of the property and how much any problems could cost further down the line. It will list any urgent issues that need inspecting by a specialist before signing a contract and will include a test for damp in walls and damage to timbers, including wood worm or soft wood rots. It is not usually suitable for properties in need of renovation, or if you are planning major alterations to the property.
Before commissioning a Homebuyer’s Survey and Valuation Report you must ensure that the report will be acceptable to your building society or bank. If the financial institution has its own valuer then it might be better to commission a Condition Report, which contains no valuation element.
Contact a surveyor
If you need a valuation, buildings survey, homebuyers report or any other professional services please get in touch.
This report is particularly useful for older, larger or non-traditional properties. It is also suitable for properties that have been extensively altered, or for a property where a major conversion or renovation project is planned.
A building survey is a comprehensive report providing a full break down of the fabric and condition of the property with a diagnosis of defects, repairs and maintenance advice. Often, we will provide an estimate of repair costs based on previous experience with other properties. If required we can organise tradesmen to provide a detailed quotation, but this would incur an extra charge.
As with all surveys, costs for this type of building survey will vary, depending on the size of the property and where it is.
Timothy Lea & Griffiths often carry out a Condition Report, and if they find that there are problems in a property, will make an onsite report verbally to the client. If, at that stage, the client wishes to increase the level of survey report we are able to convert the survey from a Condition Report to a full Building Survey. In this instance quotes for providing this service would be agreed verbally and then confirmed in writing once the survey had been completed.
If you are considering purchasing a property, please feel free to talk to one of our surveyors for informal advice. Our office telephone number is 01386 765700.
Horticultural Surveying Services
Timothy Lea & Griffiths are recognised as being regional experts in surveying matters relating to horticultural property. Horticulture is a diverse industry in the United Kingdom. It extends from field and plantation crops, vegetables grown on a field scale, to intensive glasshouse nurseries, which are almost space age in design using very advanced equipment to control growing environments.
The glasshouse sector sub-divides again into salad production, hydroponics and ornamental production. Some advanced nurseries use robotics to assist with mass production of pot plants. Others have combined heat and power generating systems to both convert gas and oil to heat and electrical energy.
Timothy Lea & Griffiths have years of experience of horticulture and are experts in valuing horticultural nurseries and garden centres. By having a widely experienced commercial property department, comprehensive advice can be given relating to Landlord and Tenant matters, valuations and agency requirements, whether it be selling a freehold interest or leasing a property, either for short term use or long term use.
Timothy Lea & Griffiths are able to provide;
- Regulated valuations for horticultural property
- Agency services on a regional basis using comprehensive websites such as Novaloca, Focus CoStar and Right Move
In the first instance, if you have a technical enquiry please contact Tony Rowland on 01386 765700 or email firstname.lastname@example.org