Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Surveying a Property in Edinburgh and the Types of Survey Reports

By Graham Lamont Subscribe to RSS | February 14th 2012 | Views:
loading
 
  



If you are thinking of buying a property, surveys and valuations of the property are of extreme importance. Hence it is very important that you understand what these terms signify in order to get this process carried out.

Whenever you are deciding on purchasing a property, you must always get it surveyed before moving on to the step of buying it. Even if you are buying the property from a reputable property developer, getting it surveyed will help you in the long run by saving you a fortune. The lender will carry out the survey if you are getting the property on mortgage but still you will be asked if you are interested in getting an additional survey done.

Surveying a property in Edinburgh:

When you purchase a property through a mortgage, the mortgage lender instructs for a mortgage valuation. Many people are under the wrong impression that mortgage valuations are the same as surveys. This is not so, as the lender will instruct for a valuation, but only for his purposes. Hence to think that this valuation will also highlight any underlying problems with the property is a common error among people. Purchasing a particular property without getting it surveyed will hide valuable information about the property’s condition from the purchaser.

The importance of property surveys is fairly simple to understand. Whenever you are buying a product, you gather information about it from all sources. The more you know about it the more easily you can decide whether it’s worth the money or not. Same is the case with purchasing a property. Infact the consequences of buying a wrong property can be far more damaging than a regular product.

So you must always get the property surveyed before moving on to any negotiations. This will highlight all the problems with the property. Hence price can be negotiated accordingly.

Kinds of survey reports:

There are three kinds or survey reports. Firstly, the RICS Condition Report. This report is prepared from the inspection of the property. It contains advice from solicitors and outlines risks associated with the purchase. Secondly, RICS HomeBuyer Report. This is a detailed report, prepared by a chartered surveyor to highlight the defects of the property. Lastly, the Building Surveys report. This will consist of a detailed report regarding the structure and condition of the building. A thorough inspection of the property is done to prepare this report. It might even carry specialist reports from electrical system, central heating, drainage etc.

Graham Lamont - About Author:
Graham Lamont is a marketing officer for Greenlet, property lettings website in Edinburgh. If you want more information on property in edinburgh, please visit edinburgh flats for rent.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/business-articles/surveying-a-property-in-edinburgh-and-the-types-of-survey-reports.htm

Related Business Articles Subscribe to RSS

Some legal advices for tenants of property to rent in Scotland
Published by Cathrine Mckay on June 6th 2012 | Business
There is always a tenancy agreement between a tenant and landlord. The tenant is always safeguarded ...
 
Office space for rent Calgary
Published by Avani 61 on July 21st 2012 | Business
Whether or not you might be interested in beginning your own personal business or merely acquiring b...
 
An overview of the on-rent conference facilities
Published by Alberta Reid on December 15th 2011 | Business
Conference facilities are rooms that are used to hold a singular event which is usually a business m...
 
Vancouver holiday apartments for rent: Suitable Accommodation for Your Vancouver Vacations
Published by Ahsan Abrar on January 17th 2012 | Business
Vancouver these days is amongst the most visited cities of the world, as people from all over the wo...
 
Benefits of hiring the services of agencies for getting property to rent and other things to be look into
Published by Cathrine Mckay on June 6th 2012 | Business
Taking the property to rent by hiring the services of agencies is although expensive for you yet it ...
 
Different Marquees, whether to buy them or rent them
Published by Milla Howse on January 25th 2012 | Business
Marquee can be taken on rent if you don’t know when you will organize the next party but in case y...
 
How to choose an area when searching for property to rent in Edinburgh
Published by Ann Clark on April 19th 2012 | Business
This article is concerned with pointing out all the relevant factors that you must take into conside...
 
Advantages to taking motorhome hire Manchester on rent
Published by Roney on January 28th 2012 | Business
The United Kingdom from your home country, macha in Cheshire is the perfect solution by Cheshire ser...