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Valuations |
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Formal, professional valuations of property are required for a number of purposes, including Market Valuations, Mortgage, Secured loan, Equity release/purchase, Probate, Insurance and Tax valuations etc and, although they are NOT and should NEVER be mistaken for a survey, matters which may 'materially affect value' have to be taken into consideration; These 'matters' would, of course, include significant defects. But, remember, if you are buying a property and getting a mortgage, the inspection carried out by your lender/mortgage company is only designed to tell THEM what THEY need to know and is NOT meant to inform you what condition the property is in, so, you must NEVER rely on it. If you want a specific report to advise you of the condition of a property, the ONLY option is to get a proper, professional survey, which could be either a HOMEBUYER SURVEY AND VALUATION or a BUILDING SURVEY. In the vast majority of cases the 'Homebuyer' survey is ideal, although, if a property is obviously in a very poor state of repair or very old, then a Building Survey might be more suitable. |
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