When should you book your RICS home buyers survey?
The best time to book your survey is once you’ve had your offer accepted, you have confirmed your mortgage offer, and your lender has arranged a valuation.
Arranging your survey as early in the process as possible helps to flag potential issues that could affect your purchase, before it’s too late.
What other home surveys are there?
RICS Valuation report:
This report provides a market value for the property, based on a surveyors independent review. You will need this report if using a mortgage to buy a property, as the lender uses it to protect their investment and make sure they are not lending more than a house is worth. You may find it’s included as part of your mortgage deal, or you may have to pay for this independently.
Help to Buy valuation:
This report provides and independent valuation of the property’s current market valuation. You’ll need this report if you bought a home using the Help to Buy Equity Loan scheme, and want to sell the property, or repay the government loan. This is because the amount that needs repaying, depends on the value of the property at the time of repayment.
Snagging survey:
When you buy a new-build property, or a property off-plan, you will need a snagging survey before you move in. The snagging survey will provide a list of any issues that don’t meet the warranty standards, and minor cosmetic issues, such as cracked paint. Your developer should than fix the items on the list before you move in.
How do you choose a surveyor?
There are a few steps you should take to choose a surveyor, such as checking they are regulated by RICS (Royal Institution of Chartered Surveyors), looking at their reviews and making sure that they are local to you, as well as getting a quote to factor in their costs. Get a home buyers survey quote from our trusted partner today, or find out more information about surveys in our helpful home buyers survey guide.
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