BUYERS MUST SEE THE HOME SURVEY AS A SOUND INVESTMENT, SAY PAPPA
Home buyers have been warned not to underestimate the importance of having a professional survey inspection and report undertaken in the property transaction process.
Members of the Plymouth Area Property Professionals Association (PAPPA) say it’s always worth paying the additional fees to find out any issues, before committing to a purchase.
They also recommend that prospective purchasers do not rely on the very basic report prepared simply for mortgage purposes.
Chairman Ben Dreher said there’s no better organisation than PAPPA to go to for surveying expertise, with three highly respected firms of Chartered Surveyors among its membership – Barron Surveying Services Ltd, Alan Cummings and Co, and Monk and Partners
A fourth PAPPA member, Shobrook & Co, specialise in valuations for probate and matrimonial proceedings, as well as leasehold enfranchisement valuations for freehold acquisitions and lease extensions.
“Whether it’s a 16th century cottage, a 1930s detached bungalow or a brand new property, whatever the age, it’s vital to get a professional survey inspection and report carried out by a reputable and professional firm,” said Ben.
“Buyers should always look at considering a professional property inspection and report as an investment, as the results may enable them to renegotiate the price – or, if there are significant issues, to walk away altogether.”
Surveys are available at three levels – a Level One or Condition Report, Level Two Homebuyer’s Report and Level Three Building Survey – and the choice will largely depend on the type and age of property in question.
Typically, the lowest priced inspection, the Level One report, will aim to highlight any significant issues and will often be used to assess the standard of new build properties. The Level Two report is the most common and will go into more detail about what main defects are present, as well as those that could affect the property in the future.
Finally, the Level Three survey is the most expensive, but will provide a real ‘warts and all’ appraisal and is often used for much larger and/or older properties, or where major alteration works are planned.
With the property industry in Plymouth now entering its busy Spring sales period, Ben urged anyone in need of advice on what survey will best suit them to contact the surveyors who are PAPPA members.
“We are extremely fortunate to have some of the most professional and experienced surveying firms in our ranks, independent specialists, who between them, have many years of industry expertise and knowledge under their belts,” said Ben.
“In common with all PAPPA members, who cover the whole range of property related services, I would not hesitate to recommend them.”