What is a Homebuyers Survey?
If you are thinking of buying a property then it is likely that you will need a Homebuyers Survey/report – so what is a Homebuyers Survey? A Homebuyers Survey provides information regarding the overall condition of the property and if there are any major concerns. EAP provide this service to ensure that the property you are purchasing is structurally safe and a sound investment.
Currently Estate Agents or the seller of a property do not have to divulge any problems with a property, therefore an independent Homebuyers Survey is highly recommended before making what often is a lifetime investment.
Most lenders require a satisfactory valuation survey prior to making a mortgage offer. We therefore advise it is prudent to receive your offer prior to obtaining a property purchase survey.
Obtaining your mortgage through a Bank or Building Society doesn’t mean your Homebuyers Survey must also be acquired through the mortgage provider. In fact you benefit more by using an independent surveying company such as EAP, as a valuation surveyor is obliged to report to the lender any defects that are found, as this may affect approval of the loan or result in retention. As independent surveyors EAP provide a non biased, concise and easily understandable report, also offering you the opportunity to raise any concerns you may have about the property. You will generally find that the promptness of our service assists in reducing any anxiety. It also, and possibly far more importantly, gives you the opportunity to ascertain if future expenditure will be required, and if necessary the opportunity to negotiate on price.
What is a Building Survey (Structural Survey)?
A Building Survey differs from a Homebuyers survey in the fact that the Survey provides more in-depth information. A Building Survey is recommended if the property is large or old, or if there is suspected structural problems. The Survey provides a very detailed account of the buildings condition room by room, and advises on repairs and modifications that may be required.
EAP’s core business is Structural Engineering and our expertise in this area ensures you’re in safe and experienced hands.
A Building Survey does not include a valuation on the property.
With offices based in Colchester and Cambridge, EAP provides a prompt service throughout East Anglia.