The Homebuyer’s Survey and Valuation Report (or HSV) is a service carried out to a standard format, defined by The Royal Institution of Chartered Surveyors (RICS). It is recommended for properties built within the last 150 years, which are of conventional construction and in reasonable condition.
An HSV includes the property’s general condition, any significant defects, inaccessible parts of the property which may affect its value, and urgent and significant matters that need addressing before exchanging contracts. It is not suitable for properties needing renovation, alterations, or extension, in which case a full building survey is recommended.
The HSV includes the value of the property on the open market and the recommended reinstatement cost for insurance purposes. It is not a detailed survey of every aspect of the property – it focuses on significant and urgent matters. It could potentially save you thousands of pounds in the future. Some of the issues covered by the HSV include:
Investing in property is one of the biggest financial commitments you will ever make. The best way to get advice on the type of survey you require is by seeking professional advice from a Chartered Surveyor, who will act solely in your interest and who could save you money and spare you from future heartache. At Johal Regan we offer reliable, professional advice on the types of survey available, and provide clear, easy-to-understand reports tailored to your requirements.
The RICS publication ‘Understanding property surveys’ is a helpful guide which explains the various types of surveys that are available. It will help you to decide what survey is appropriate for the type of property you are buying.
Please click on the link below and download this publication, or contact us and we will post or email a copy to you.
RICS - Understanding Surveys
If you need further information about a survey, or would like a quotation, please call us on 020 8914 8021 at our Ilford offices. We will need some basic information about the nature of the property including size, age and location, together with any other specific requirements you may have.
We provide easy-to-read reports without the use of unhelpful jargon. We aim to inspect, prepare and post a report within 5 working days, and sometimes less.
If you would like to discuss your plans and get a quote, contact us on 020 7175 1441 or use our contact form.