Costa del Sol's Property Specialists

Understanding Surveys

Throughout the entire property buying process, nothing causes more confusion then the understanding of property Surveys and Valuations.

Understanding Surveys A Valuation is a check carried out on behalf of your mortgage lender to get an understanding whether or not the property is worth the amount you wish to borrow. This type of report takes about half an hour and covers only basic factors, such as the property’s location, age, type and general state of repair. However, it is important to remember that this report doesn’t guarantee that the property is structurally sound and that there are no serious defects. However, only major defects that will effect the value of the property will be noted.

A Homebuyers Report, also known as a Survey Report will provide you with information on the condition of the property. We do a visible inspection of the property to see if any faults are present. We then provide a written report in English, together with digital photographs showing any defects that we might find. If it is necessary we can arrange for a more in-depth investigation thereafter, depending on what we find and what your wishes are. This type of report will take about two hours to complete.

Finally, a Building Survey or Structural Survey is a fully comprehensive inspection of all accessible parts of the property. This particular report will inform you of what is wrong, why it is wrong and what can be done to fix the problems. If you are buying a free standing villa or a building that has been altered or going to be altered then this report is essential. These Building Surveys or Structural Surveys are long and detailed, but don’t let that put you off as the Surveyors are legally obliged to inform you of their findings. The Surveyor will suggest certain specialists if he/she feels there are potential problems such as, drainage, damp, timber, etc.

However, it’s important to remember that the Surveyors are cautious and so it is not necessary to undertake all the work that they might suggest.

Also there are practical limitations to Surveys. Read more on Practical Limitations.

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