Your Guide: RICS Surveyor Property Inspections
Protect Your Investment
When it comes to buying a property, having a professional property inspection is an essential step to ensure you not only have a clear understanding of its condition but to help safeguard your investment.
Your home is probably the most significant purchase you will make in your life. So, by choosing to have it professionally inspected by a qualified expert before sealing the deal, you are making a very smart move.
One of the most reputable institutions that regulate property inspection services is the Royal Institution of Chartered Surveyors (RICS). Watsons is a RICS-accredited company, and all of our surveyors are qualified members of the Institution.
Identifying Hidden Issues
One of the primary reasons for commissioning a property survey is to uncover any issues that may be hidden or not immediately apparent from first viewings. While a property may seem visually appealing, there could be several underlying problems such as structural defects, issues with underground drainage, or hidden damage or deterioration. A thorough survey by a qualified professional can reveal these issues, enabling you to make informed decisions prior to going ahead with your purchase.
Avoiding Costly Repairs
By identifying potential problems through a property survey, you can avoid unexpected and expensive repairs further down the line. Addressing issues promptly can prevent them from escalating, saving you substantial amounts of money in the long run. For example, a survey may identify a roof leak that would require immediate attention to prevent further water damage and more costly repairs.
Negotiation Power
Having a survey report in hand can give you a more advantageous position during negotiations. If the survey uncovers significant issues, you can use this information to renegotiate the price or request that the repairs identified are undertaken by the seller prior to exchange of contracts. This negotiation power allows you to protect your investment by ensuring that you are not paying more than the property is worth or left shouldering unforeseen expenses.
Understanding the TRUE Value
Property valuations conducted by RICS surveyors (who are also registered valuers) provide an unbiased evaluation of a property’s condition and market value. Our valuers are immersed in their local property markets every day. Their bespoke knowledge will help you understand the true value of a property and help you make informed decisions about your investment. This knowledge becomes particularly crucial for property owners planning renovations or seeking to maximise their resale value.
Financial Institution Requirements
Most mortgage lenders require a valuation before granting a loan. This is because they want reassurance that the property is worth the amount being borrowed and that there are no major issues that could decrease its value. By conducting a property valuation, you can fulfill this requirement, ensuring a smooth transaction and protecting your investment. A valuation should not be confused with a survey however, although we can offer you both services in one straightforward appointment.
Future Planning
A thorough property survey not only assesses the current condition of the property but also provides insights into its future potential. For instance, the survey type you choose may identify opportunities for expansion or highlight potential risks, such as environmental factors, or legal constraints. Our surveyors are able to undertake the full range of RICS-accredited survey products which will in turn give you the information you need to plan for the future and make informed decisions.
Peace of Mind
One of the most valuable aspects of getting a property survey is the peace of mind it provides. Knowing that a qualified professional has evaluated the property thoroughly and provided an expert opinion can save you from sleepless nights and unnecessary anxiety. It assures you that you have made a wise investment decision and mitigated any potential risks.
Obtaining a property survey conducted by an RICS surveyor is an essential step in protecting your property investment. By uncovering hidden issues, avoiding costly repairs, leveraging negotiation power, understanding the true value, meeting lender requirements, planning for the future, and gaining peace of mind, a property valuation and/or survey ensures that you make informed decisions, and you safeguard your investment. Don’t overlook the importance of a property survey when venturing into the real estate market.
Understanding RICS Surveyors
RICS surveyors are highly qualified professionals who have undergone extensive training and education in the field of property and construction.
They are members of the Royal Institution of Chartered Surveyors and adhere to rigorous standards of practice and when they inspect your property, they will take the following steps:
Step 1: Initial Assessment
Before the property inspection takes place, the RICS surveyor will conduct an initial assessment. They will research the local area for any factors that may affect the property’s value or condition, such as flooding, previous mining activity, potential for Radon gas exposure and site soil type.
Step 2: Visual Inspection
During the property inspection, the RICS surveyor will conduct a thorough visual examination of both the interior and exterior of the property. If applicable and accessible, a surveyor will check the construction and condition of the following elements:
- Grounds and boundaries, to check the general condition of driveways, patios, steps, walls and fences, water features, evidence of Japanese Knotweed, proximity of trees.
- Roof space, if access is safe and practical, including roof structure, underfelt, insulation, ventilation, party walls, chimney breasts, evidence of condensation or leakage.
- Ceilings, for evidence of serious cracking, loose plaster
- Internal walls, for evidence of serious cracking and dampness
- Fireplaces and chimney breasts, for evidence of dampness and unsupported masonry.
- Floors, for evidence of defective finishes, dampness, structural movement
- Internal joinery, including doors, door frames, skirtings, stairs, balustrades.
- Kitchen fittings, to check general condition of cabinets and worktops.
- Sanitary fittings, to check general condition of baths, shower cubicles, wash basins and lavatories.
- Electricity, to check meter type, general condition of fittings, test certificate.
- Gas, to check meter type, general condition of fittings, test certificate.
- Water, including rising main, stop tap, pipe material, storage tanks.
- Drains, to check drainage type, soil pipes, gullies, evidence of leakage or blockages
- Space heating, including central heating boiler, radiator, expansion tank, heating controls, fixed heating appliances, test certificate.
- Water heating, including pipework, cylinder, immersion heater.
- Past flooding or potential risk.
- Possibility of radon gas.
- Proximity to pylons, overhead cables, and electro-magnetic fields.
- Current or past underground mining.
- Noise from traffic and aircraft.
- Adverse nearby developments.
- Intrusive noises, fumes, smells, and lighting from nearby properties.
- Evidence of rats, mice, and other vermin.
- Presence of protected species such as bats.
- Trip hazards.
- Unsafe glazing.
- Mould.
- Loose stairs, inadequate bannisters, and safety rails.
- Unprotected water features.
- Defective wiring.
- Gas leak.
- Materials which might contain asbestos.
Step 3: Checks and Measurements
RICS surveyors will take various measurements and conduct checks to gather accurate data about the property. This may include measuring the dimensions of rooms, assessing ceiling heights, and checking for compliance with building regulations. They will also evaluate any alterations or additions made to the property.
Step 4: Documentation and Reporting
After the inspection, the RICS surveyor will compile a detailed report outlining their findings. This report will include a thorough description of any defects, issues, or areas of concern identified during the inspection. It will also provide guidance on recommended repairs, maintenance, or further investigations required.
The surveyor’s report may be divided into different sections, such as the condition of the building, the services and utilities, and any specific problems that require attention. The report will be objective, unbiased, and easy to understand, tailored to the level of detail required by the client.
Step 5: Professional Advice
One of the key benefits of engaging Watsons is our ability to provide professional advice. We can guide clients on issues related to property value, potential risks, and legal compliance. RICS surveyors often possess a deep understanding of the local property market as well, allowing them to offer insights into property valuations and future investment potential.
A property inspection conducted by an RICS surveyor offers valuable insights into the true condition and value of a property. The detailed examination, documentation, and professional advice provided by RICS surveyors can help buyers and sellers make informed decisions when it comes to property transactions.
By engaging an RICS surveyor, individuals can ensure that their investment is backed by comprehensive knowledge and expertise.
