Residential Surveyors

A Property Valuation is a limited check carried out to identify the current market value of a property based on numerous factors.

Gibson Abbott undertakes Property Valuations for:

• Private Clients
• Probate
• Matrimonial

The Help to Buy Scheme is a shared equity scheme, introduced by the Government, where first-time buyers can borrow up to 20% (40% if you live in London) of the cost of a new build house. This is interest free for 5 years.

If you have used the Help to Buy scheme and are in a position to remortgage your home and start repaying your loan, then you need to appoint a RICS regulated independent Registered Valuer to carry out the valuation.

The valuer will inspect the property and provide at least 3 comparable properties and sale prices to establish current value with properties on a like for like basis with regards to property type, size, and age.

We specialise in preparing reports if you have used the Help to Buy scheme. The report will be prepared in an approved format, signed by a RICS surveyor, dated, and addressed to the appropriate association.

A Home Survey Level 2 is a service carried out to a standard format, defined by RICS (Royal Institution of Chartered Surveyors). It is primarily designed for conventional properties built within the last 100 years that are in reasonable condition.

The Home Survey Level 2 is not a detailed survey of every aspect of the property and focuses only on major and urgent matters. It’s not suitable for many properties that are more than 100 years old; those in need of renovation or that you are planning to alter/extend.

A Home Survey Level 2 includes details of:

• The property’s general condition
• Any major faults, in accessible parts of the property that may affect its value
• Urgent and significant matters that need assessing before exchanging contracts including recommendations for any further specialist inspections
• Results of any testing of walls for dampness
• Comments on damage to timbers including woodworm or rot
• Comments on the existence and condition of damp-proofing, insulation and drainage (although drains are not tested)
• If prior agreed, the recommended costs of re-constructing a building in the event of damage (such as fire) for insurance purposes. This is not the same as the market value of the property
• Also if prior agreed, the value of the property on the open market

A RICS Home Survey Level 3 is a detailed examination of all accessible parts of a property and can be tailor-made to suit your individual needs and concerns.

A Home Survey Level 3 is a comprehensive inspection suitable for all properties but especially for:

• All listed buildings
• Older properties
• Any building constructed in an unusual way regardless of its age
• Properties you are planning to renovate or alter in any way
• Properties that already have extensive alterations

A Home Survey Level 3 includes details of:

• Major and minor faults
• The implications of any possible faults
• Results of any testing of walls for dampness
• Comments on damage to timbers including woodworm or rot
• Comments on the existence and condition of damp-proofing, insulation and drainage (although drains are not tested)
• Extensive technical information on the construction of the property and details about material used
• Recommendations for any further special inspections

A Home Survey Level 3 does not include a valuation. Although, your surveyor can provide a separate valuation report if you need it.