Surveyors
The role of the surveyor
A surveyor advises on the property’s physical condition during the selling and buying process.
They look for structural issues or needs for repair, ensuring the buyer and lender know what they’re getting.
This helps buyers make informed decisions and can highlight issues that might affect the price or require fixing later.
Surveyors make the process safer and clearer for everyone involved.
Valuation or conditional survey?
What is the different between a valuation and a conditional survey?
A valuation is mostly for the benefit of the lender, and may, or may not include a physical inspection of the property.
A conditional survey is based on a comprehensive physical inspection.
Why would I want a conditional survey?
As a seller a conditional survey alerts me, and prospective buyers, about repairs and maintenance that need doing now or in the future.
As a buyer, a conditional survey informs me about condition related matters that may affect my decision to buy, or the price I am willing to pay.
Rules and Regulations
The following rules and regulations apply to surveyors
A surveyor whether working to the RPSA Survey Inspection & Reporting Standards or RICS Home Survey Standards has a duty of care to the person relying upon their advice.
Bringing the information and advice contained in a survey to the attention of the home seller or buyer earlier in the process reduces the risk and quantity of loss.
Every property is different, and so the survey requirements will vary according to the age, type, location, construction, condition and history of that individual home.
Benefits
Bringing the information and advice contained in a survey to the attention of the home seller or buyer earlier in the process reduces the risk and quantity of loss.
Although surveying is mainly a physical process, digital property information helps support:
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The assessment of the property to have a fuller picture.
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A more accurate representation of what’s there.
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Helps the flow of data back to consumers and their professional advisors. This might include review of structural alterations, consents, geology or other local restrictions, which can be verified during a physical inspection.
What data does a surveyor need?
A surveyor would benefit from a range of data to support their service, including:
• Broadband availability
• Energy Performance Certificate (EPC)
• FENSA or CERTAS registered double glazing
• Fracking
• Geology
• Geology indicating Radon Risk
• Historic England or Wales listing
• Historic landfill
• HS2
• Lease Information
• Local planning
• Mining data/Coal Authority
• Mobile signal
• National Park planning
• Old maps
• Past flooding
• Title and Tenure
• Title plan/MapSearch
Data Sources
A surveyor can obtain data from a variety of sources, including:
Direct from the relevant authority
Asking the customer
Reviewing Material Information on the property advert
Information from a technology system - directly or shared by others in the process
Sharing more digital data
The increased sharing of digital data will have many positive impacts, including:
Estate agents are legally required to provide information that would be material to an average consumer, and sellers have a legal requirement not to misrepresent facts about their property.
Information gathered can be utilised (subject to satisfactory liability definitions) by a variety of stakeholders in the process, in the full knowledge that it is from trusted sources and in data-readable formats.
By recognising factors that could lead to risks that should be highlighted as material information for a buyer, the triage approach will enable agents to potentially identify the need for further inspections, assessments or surveys at the pre-marketing stage.
Consumers can receive advice essential to their decision-making process, which can be referenced, and continually updated, during their period of ownership.
The current process
Process flow to Exchange of Contracts
Below are the key stages and activities in a property transactions related to the Surveyor:
Upfront Information
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Review Seller ID
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Property Logbook
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Assess and advise on pre-marketing inspections/surveyor, search data
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Title and seller information
Viewing
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Review Material Information
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Mortgage in principle
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Proof of funds and Buyer ID
Offer Made
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Mortgage application
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Contract pack
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Valuation
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Survey (where advised)
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Due diligence
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Enquiry of specifics relevant to the Buyer and their Lender