32 Frederick Street
15 Home Buyer's Report
Comments supplied by Robin Mewes, Residential Surveyor & Valuer, Allied Surveyors.
Homebuyer Survey & Valuation (HSV)
It is normally perfectly possible to communicate all significant matters to a purchaser client using this report type, and at half the price (say £350 plus VAT) and with the bonus of a market valuation it is hardly surprising that this report has taken over from the Building Survey when dealing with the vast majority of ‘normal’ residential property. I find in practice that if commissioned to produce a Building Survey now I will be looking at some rambling and run down old farmhouse with outbuildings; a Listed house or certainly a house that is at least 100 years old. The HSV simply offers better value for money in most cases, especially when considering that most buyers only want to know whether the house and their purchase decision are sound. Purchasers are less interested in maintenance, so the extra information contained in a Building Survey is often only of real benefit after purchase.
While the HSV would almost certainly offer better value for money for the purchaser of 32 Frederick Street, the surveyor would have to work hard for the fee. The property has more than its fair share of issues and with hindsight the surveyor might regret charging a ‘normal’ HSV fee. There is always the option to walk away or re-negotiate, but that happens very rarely in practice. Assuming of course the surveyor is not out of their depth, they would normally crack on with the inspection; but it is essential that enough time is allowed to complete the job properly and the job should not be squeezed into a notional allocation of time to suit the surveyor’s fee rate. The client should be pleased with an HSV on 32 Frederick Street, but the surveyor may have been more gainfully employed elsewhere.
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