Valuations and Surveys

Athertons Chartered Surveyors undertake inspections of both residential and commercial properties and provide valuation surveys for individuals and lending institutions for loan security purposes. It is important to note that Athertons do not undertake building surveys sometimes referred to as structural surveys but would be happy to offer guidance on a no-cost initial consultation.
If we feel we cannot provide the service you require then we can probably refer you to an appropriate property professional.

Further, as Chartered Valuation Surveyors, whilst we have a general knowledge of buildings, in some circumstances detailed comment will lie beyond our expertise and in that event Athertons will recommend and highlight the necessity for the commissioning of a specialist report eg Structural Engineer or Chartered Building Surveyor to comment on the possibility of ongoing movement.

Commercial Property

Athertons Chartered Surveyors believe that our clients’ requirements for any commercial property related matter should be discussed with our Surveyors in order that the client receives the service they need and to enable us to provide a competitive quotation to meet those requirements.

Residential Property

The following information will help you to understand the various valuation surveys provided by Athertons Chartered Surveyors.

Choosing between surveys

We recognise that the purchase of a home is one of the largest investments that most individuals will make. It is therefore important they reach an informed decision on the property’s condition and appropriate value, provided by an expert property professional, prior to committing to a legally binding contract to purchase.

It is important to note that inspections undertaken by Athertons Chartered Surveyors are in accordance with the guidance issued by the Royal Institution of Chartered Surveyors and within the constraints of being a visitor to a property. Consequently the inspection is visual, non-invasive and damage cannot be caused eg carpets and floorboards are not lifted nor furniture moved although random electronic damp-meter tests are undertaken. From the inspection we glean an overview of the condition of the property which may result in us recommending our client to obtain further specialist reports from experts on an identified or potential defect. These might include Timber and Damp-Proof specialist, Structural Engineer, Electrician, Central Heating Engineer etc.

Mortgage Valuation

Most lending institutions will require an inspection and Mortgage Valuation to confirm that the property provides sufficient security against a loan at the time of purchase. The mortgage valuation report is for the benefit of the lending institution (not for the borrower) and would normally highlight significant defects which could have a detrimental affect on the value of the property and potentially could add significant additional cost to a purchaser. Many lending institutions will provide a copy of the report to the purchaser/borrower and whilst Athertons Chartered Surveyors are prepared to discuss the contents of the mortgage valuation report with the borrower it may still be advisable and prudent for the purchaser to commission their own valuation survey.

In conjunction with a mortgage valuation you might wish to instruct Athertons Chartered Surveyors to provide you with one of the following:

Limited Condition Valuation Survey

Suitable for cash purchase or in conjunction with a mortgage valuation.

Athertons Chartered Surveyors ‘Limited Condition Report and Valuation’ is similar to a mortgage valuation but provides a more detailed written report, the inspection being to our own specification. It is suitable for most types of residential property and concentrates on significant and urgent property defects allowing us to focus attention on those matters we feel are of importance and may influence the decisions of a purchaser. It is based upon a non-invasive visual inspection with the aid of random and limited damp-meter tests and will include a head and shoulders inspection of the roof void space, subject to access. It provides a Chartered Valuation Surveyor’s opinion on the market value of the property and an insurance Re-Building cost as at the date of inspection. It does not include the level of descriptive information contained in the Homebuyer Service and consequently a lower fee will be charged.

RICS Homebuyer Survey and Valuation

Suitable for cash purchase or in conjunction with a mortgage valuation

An RICS Homebuyer Survey Valuation is a sectional report covering the building both inside and out, the services which are not tested in detail and the site, from a non-invasive visual inspection with the aid of random and limited damp-meter tests. It focuses on the defects and other problems which the Surveyor considers to be urgent or significant. It also advises on the general condition and particular features, points which should be referred to the client’s legal advisers and other relevant considerations eg the location and the environment. Matters which are judged not to be significant or urgent are not generally included in the report however matters judged to be helpful and constructive may be included. If advised of a client’s particular needs eg disabilities, if asked the Surveyor will keep these in mind during the inspection. Again it provides a Chartered Valuation Surveyor’s opinion on the market value of the property and an insurance re-building cost as at the date of inspection.

This type of report is perhaps more suitable for properties of traditional cavity brick wall construction rather than the solid stone random rubble and brick wall buildings built pre 1920 and commonly found on the Isle of Man.

The RICS Homebuyer Survey and Valuation is now over 13 years old and is to be replaced by a new Homebuyer Report in 2009.

As part of our valuation reports Athertons generally include a guidance of the re-building cost for insurance purposes based upon the BCIS (which is a trading name of the RICS) Guide to Re-building Costs. As stated this is only a guide and for a more accurate and detailed re-building cost you should retain the services of a Chartered Quantity Surveyor.

Fees