|November 27, 2020||No Comments|
Employing a Chartered Surveyor if you are involved in any form of property purchase is a key way of protecting yourself – and many would-be buyers who choose not to use them come to regret it later.
Maunder Taylor are Chartered Surveyors based in Whetstone. Here we provide five key reasons to use these qualified professionals if you are involved in a property purchase or valuation.
Whether you are a homebuyer or are looking to invest in commercial premises, Chartered Surveyors will be able to provide an accurate assessment of a property’s true worth. This is because they are working for you and nobody else, and they have a duty of care to ensure that you know about any problems.
In contrast, lender valuations are less reliable as they have been compiled by individuals with a duty of care to the lender.
Chartered Surveyors will give you far more than an estimation of a property’s worth. Depending on the type of survey you request, they will also tell you exactly what, if anything, is wrong with the property and how much it is likely to cost to put it right.
They can also provide a long-term maintenance plan if the buyer still wishes to proceed with the purchase. In the case of rented property, they can also draw up a Schedule of Dilapidations so the tenant knows exactly what damages and defects they are responsible for as part of the lease.
Based on the outcome of the reports they provide, would-be buyers who use independent Chartered Surveyors can expect to save money in the long term. You can reduce the amount of your offer on any property or insist that any issues are dealt with before proceeding, if the surveyor’s report has identified problems which will be expensive to rectify.
Recent research by the Royal Institution of Chartered Surveyors showed that one in five of all homebuyers later discovered a problem with their property, which cost an average of more than £5,000 to rectify.
Chartered Surveyors aren’t just experts on property values; they can also offer essential advice on a range of other issues. For instance, they can provide valuations for development or renovation projects, including any existing assets such as land and buildings.
Developers who are in the initial design stages of a construction project use surveyors to check that the land is being used in the most efficient way. Members of the profession are also well-versed in the intricacies of the planning process and will know who to contact at the local authority.
Members of the profession are registered with the Royal Institution of Chartered Surveyors (RICS). This means that they are highly professional and required to meet the highest standards. Most have completed a surveying degree, followed by at least two years of structured training, before a final assessment.
Once they have qualified, all RICS members must comply with their Global Professional and Ethical Standards which means they must act with integrity and independence and provide a high standard of service. There are regular training courses to ensure members’ skills are kept up to date, and the RICS also carries out periodic audits of its members. The Institution also operates a rigorous complaints handling procedure.
At Maunder Taylor we offer a range of surveying services, including formal valuation reports, Schedules of Dilapidations, and long-term maintenance plans. If you would like any more information, you can email Bruce Maunder Taylor FRICS MAE or you can call our Whetstone office on 020 8446 0011. You can also click on this link, fill in the online form and we will get back to you.