The ‘Walker Jones Homebuyer Property Survey & Valuation’ is suitable for most residential property of a conventional type and construction.
The Report is in a structured easily understood format combining the most popularly demanded aspects of the various formats of the Royal Institution of Chartered Surveyors (RICS) Homebuyer Report formats which have appeared in recent years and with consistent Terms of Engagement.
Our main objective in providing the ‘Walker Jones Homebuyer Property Survey & Valuation’ is to assist the prospective homebuyer in making a decision as to whether or not to proceed with the purchase. We give our professional opinion on the particular features of the property, which may affect its value and future marketability, and also consider whether we view the proposed purchase price to be realistic.
A ‘Walker Jones Homebuyer Property Survey & Valuation’ is more concise than the ‘Walker Jones Building Survey’ or ‘Walker Jones Building Survey & Valuation’ and is priced at a lower level.
The Royal Institution of Chartered Surveyors (RICS) of which we are a Member Firm, outline three ‘Levels’ of Survey service that RICS Members regularly offer (Levels 1, 2 or 3). RICS Members are however free to market their own survey product which may vary in format, scope and content to take account of Client requirements. Different Firms carry out different formats of Home Buyer ‘type’ Reports which are generally regarded as ‘Level 2’ under the RICS outline guidance. The Walker Jones report that most closely equates to a Level 2 report is our product known as the ‘Walker Jones Homebuyer Property Survey & Valuation’. This report incorporates the most popular and most ‘Client requested’ information within our Reports and combines the ‘best’ aspects of past RICS formats (the confusing and lengthy ‘traffic light’ format adopted by some firms is not used).
A Walker Jones Homebuyer Property Survey CAN include a Valuation if the Valuation option is required and gives guidance on the likely contingency figure to bear in mind in a decision to purchase on account of likely costs of repair. A ‘Walker Jones Homebuyer Property Survey & Valuation’ is NOT suitable for all property types and is less detailed, more concise and in a different format to a ‘Walker Jones Building Survey’ or ‘Walker Jones Building Survey with Valuation’ (which are suitable for ALL property and can be adjusted to individual requirements). The report none-the-less describes the condition of the main elements of the property and other issues to assist in the decision making process.
The Service: The Service comprises an inspection of the property followed by the preparation of a ten main section Report which CAN include a valuation and advice on cost/value implications of any essential repairs. The objective is to provide sufficient information to enable reasoned and informed decisions to be taken as to whether to proceed with a purchase, at what price and on the basis of certain repairs and recommendations. The general condition of the property is assessed together with issues that affect present value and future re-sale potential. The Report focuses on Urgent and Significant issues; minor defect not significantly affecting overall value may not be reported. The ‘WalkerJones Homebuyer Property Survey & Valuation’ product is ONLY suitable for averaged sized dwellings of a conventional style and of standard/traditional construction. If a property does not meet this criteria then the ‘Walker Jones Building Survey’ or ‘Walker Jones Building Survey with Valuation’ product is likely to be more suitable.
The Inspection: We carry out a general surface inspection of those parts that are readily accessible from ground and floor levels without risk of injury or damage and within the scope of use of a 3m. ladder, binoculars and a damp-meter. Furniture, floor coverings and contents are not moved and no parts are forced open. The Report cannot be taken as a Guarantee that other defects do not exist. A visual inspection of accessible services inside (but not outside) the dwelling is undertaken but Chartered Surveyors are not experts in these fields and cannot test the efficiency of electrical, gas, drainage, plumbing, heating or security alarm installations. Building Regulations and regulations/standards in respect of service installations vary over time and we will not in our report give any undertaking or confirmation of compliance with such regulations/standards but we may express doubt of compliance. The condition of flues, boilers and appliances cannot be reported on but recommendations may be given. We will not research the presence of contamination or act as an Asbestos Inspector and we will draw the attention of your Legal Adviser to matters such as apparent rights of way, easements, boundary issues, or of possible breach/non-compliance with Building Control/Planning Permissions/or Building Regulations upon which further enquiries should be made
Valuation & Reinstatement cost: If the Valuation option is required a Market Valuation will be provided which is an estimate of the price at which the property would exchange between a willing seller and buyer based on an arm’s length transaction between unconnected parties and after proper marketing. Various assumptions will be made in the definition of market value and the purposes for which our stated value may be used or not used. An estimated Insurance Re-instatement cost will also be provided which is the cost of rebuilding in its current form including costs of rebuilding any Garage or permanent outbuildings and boundary structures plus professional fees.