Thomas Awoleye, Author at Crest Chartered Surveyors

What Should a Schedule of Conditions Survey Contain?

Posted on November 15, 2022February 6, 2025 by Thomas Awoleye

Often people underestimate the level of detail that is required within a schedule of conditions survey and end up missing valuable information and evidence. In this blog, Crest Surveyors will explain exactly what should be included in a schedule of conditions survey so that you can feel confident next time you complete one, or have one conducted on your behalf.

So, what should a schedule of conditions survey contain? A schedule of condition survey should contain the purpose of the document, details of the location and extent of the property, any restrictions and weather conditions on the day, a description and explanation of the conditions of the property elements, photographic evidence, and definitions of descriptive terms used.

Keep reading to find out more about the schedule of conditions survey, including whether they are a legal requirement and who produces them.

What Should be Included in a Schedule of Conditions Survey?

A schedule of condition survey is a detailed assessment of a property’s condition that is usually completed before a lease is signed, and is often saved for future use. It is important that all relevant factors are covered within the survey. Below we have listed the typical features of a schedule of conditions survey, so you know exactly what to include.

The Purpose of the Survey	The first part of the schedule of conditions survey should detail the purpose of the document. This helps to lay out a road map for the expectations of the document and can also include a table of contents.
Details of the Location and Extent of the Property	The second part of the document should include the location and details on the extent of the property. For example, the location may have a significant effect on the valuation of a property if it is in quite a wealthy area. What’s more, the document should detail additional areas that have been evaluated in the survey such as parking spaces or gardens. This is a helpful context of the property that may be considered when a property is being leased or sold.
Restrictions of the Inspection	It is also important to detail any restrictions that may have impacted the outcome of the schedule of conditions survey. For example, if a neighbour was having construction work completed. This may have impacted the extent to which certain areas of the property could have been assessed.
Weather Conditions and the Date of Inspection	Both the date and the weather conditions on the day of the survey should be detailed within the document. This is because the weather could affect the conditions of the property on the day and may influence the survey ratings.
Description of the Property and condition of Elements	Next, there needs to be a description of the property which includes all aspects of the building. For example the roof, walls, windows, guttering, drainpipes, steps, external walls, water pipes, extensions, ceilings and more. Under each of these sections it is important to provide a brief description of the condition of these features. This will act as a benchmark for when the property is leased.
Photographs or Relevant /Drawings of the Property.	If certain elements of the property are difficult to describe in words or could simply benefit from it, images and drawings can be used. These can help to validate the descriptions and conditions of elements that are described in the document. This section can also be useful if a dispute is taken to court because it can act as useful evidence.
Definitions of Terms Used	The final section of the schedule of conditions survey should be definitions of the terms used in the document. For example, if some damage is described as minor, a clear definition of the word must be detailed in the document so that the user can understand the writer’s interpretation of the damage.

What are the Objectives of Condition Survey?

The main objective of completing a schedule of condition survey is to place a property into one of the following categories:

No signs of distress
Some signs of distress that can be repaired to satisfy relevant safety laws
Damaged beyond repair and recommended to be demolished

By completing a schedule of conditions survey, the condition of the property can be assessed to determine its condition which can then later be used in court if there are any legal issues. For example, if a tenant claims that some damage to a property was present before they moved in, this documentation can be used to prove otherwise.

Is a Schedule of Condition Survey a Legal Requirement?

A schedule of conditions survey is not a legal requirement. However, it is recommended that one is completed before a property is leased. Furthermore, despite it not being a requirement of the Party Wall Act 1996, it can support people who are in legal disputes with neighbours that are completing work on walls that are adjoining to other walls.

Due to the schedule of conditions survey being so useful as a form of evidence, most property experts or surveying companies would recommend that one is completed before every lease. They do not have to take a significant amount of time, especially when they are completed by an experienced surveyor, and they can result in a lot of money being saved during court disputes.

Who Produces a Schedule of Conditions?

A schedule of condition survey can be completed by a variety of people depending on the preference and instruction of the landlord. The landlord can decide whether the survey is completed by themselves, a tenant, an employer, or a contractor. As long as the person can be trusted to complete the document truthfully and accurately, almost anyone has the ability to complete the survey.

However, if you wish to err on the side of caution, it is recommended to have the schedule of condition survey completed by someone with experience. This is because they will have the knowledge and experience to ensure that no important aspects are missed out of the document. The last thing you want is to be lacking some relevant evidence if a dispute is taken to court.

Schedule of Condition Surveys at Crest Surveyors

At Crest Surveyors, our experienced surveyors are members of the Royal Institution of Chartered Surveyors (RICS) and provide a variety of property surveys, including schedule of condition surveys.

Get in touch today to find out how we can support you with your schedule of conditions survey requirements/

Do you need a red book valuation for capital gains?

Posted on November 15, 2022February 6, 2025 by Thomas Awoleye

We understand that tax is difficult. From working out which tax you need to pay, to estimating how much tax you owe. It can often feel like a minefield with no map. To make the process more simple on any additional properties that you may own, or come to own in instances such as probate, red book valuations are here to help.

So, why do you need a red book valuation for capital gains tax? They provide a thorough evaluation of the property to the high standards of the RICS, which in turn provides you with an accurate estimate of what the property is worth. This makes the tax calculation process much easier, as it provides a clear guide price for those tricky calculations.

To help you learn more about capital gains tax valuations, our team has put together this short guide for you to explore.

Is a red book valuation essential for capital gains?

Yes. Where tax is concerned, red book valuations are often requested to ensure that all calculations are correct. Due to the complexity of tax, a thorough valuation of the property in question helps to eliminate the risk of issues arising from paying the incorrect amount of tax.

This is especially the case when it comes to capital gains tax. Before you’re required to pay, you have a non taxable allowance up to £12,300. Any profits made on your assets after this amount will be tax deducted.

It is your responsibility to complete any tax return forms, which is why record keeping is essential to this process. This includes the Post-Transaction Valuation Checks for Capital Gains (CG34), where you have a 60-day filing requirement to submit your valuation figure.

Why do I need a red book valuation?

Other than to provide an accurate property estimate, you may be wondering why else do you need a red book valuation? The honest answer is that they outline the global standards in which property valuations should be conducted, meaning that you’ll be provided with highest quality support and guidance during the evaluation process. This is both in terms of service, and written reports that can be passed on to third party members (such as HMRC).

Is inheritance tax the same as capital gains tax?

No. Inheritance tax is something that is paid if or when you inherit possessions or property after someone has died. In comparison, capital gains tax is a tax bill that occurs when you sell something that has increased in value.

The confusion occurs between the two taxes because both may be applicable if you inherit property from a deceased person through probate. For example, if you inherit a property after someone has died, any beneficiaries will not be liable to pay capital gains on their inheritance. However, beneficiaries will be subject to pay capital gains tax if they choose to sell the property at a later date for any profit.

Who can provide a red book valuation?

It’s important to note that only a trained and RICS registered professional is qualified to carry out a red book valuation to help you calculate your capital gains tax. This includes any RICS registered chartered surveyors who will be able to guide and support you through the process.

Why choose Crest Surveyors to assist with your red book valuation for capital gains tax?

If you’re looking for friendly, experienced, RICS-qualified surveyors to help you with your capital gains tax valuation, then you’re in the right place. Our expert team has experience with a wide range of properties in the London and Surrey area. We will provide you with a thorough valuation report that includes detailed descriptions of the property, photographs, methods used for valuations and more.

Our team will help you through every step of the way to ensure that you’re paying the correct amount of capital gains tax on your property. All our work complied with the RICS UK Guidance Note 3 and Taxation and Chargeable Gains Act (1992).

If you have an enquiry or questions about your property, simply speak to one of our team members today using our contact form.

FAQs

What is a red book valuation?

A red book valuation is an in-depth property valuation conducted by someone who is a qualified Royal Institute of Chartered Surveyors (RICS). It provides the highest standard of property valuation, and can only be carried out by a trained professional.

What is capital gains tax?

Capital Gains Tax is a UK tax charged on any profits made from the sale of an asset which has increased in value. This includes if you’ve sold the asset, exchanged it, given it away as a gift or received compensation on it.

An asset can include an item, properties that are not your main home, business assets or shares.

How much tax do I pay on capital gains?

The amount of capital gains tax that is required to be paid depends on your current tax bracket, and the amount of gains. For example, if you’re a basic rate taxpayer and the amount of gains is within your taxable income, then you will be subjected to 18% tax on residential property.

If you’re within a higher tax bracket, then you’ll be subjected to 28% tax on capital gains for residential properties.

When do you need a red book valuation?

Red book valuations are required at any time an estimated worth of property is needed for formal valuations, or for tax purposes.

When do I need to get a valuation for capital gains?

You will need to acquire a valuation for your additional property/properties before you plan on selling, swapping or transferring the land.

How accurate is a red book valuation?

The RICS standards set out in a red book valuation ensure that this report is thoroughly accurate and in line with the current legislation and regulations.

Do I Need an Official House Valuation for Probate in the UK?

Posted on November 15, 2022February 6, 2025 by Thomas Awoleye

When someone dies, their estate and all personal belongings must be valued up to be divided among any beneficiaries that may be outlined in their will. This includes a full property valuation, along with outlining the financial worth of all assets, savings or debts to HMRC. During this process, it’s important that everything is valued correctly to avoid any misrepresentations or inheritance tax investigations. So, do you need an official house valuation for probate in the UK?

It’s vital that you get an official house valuation for probate from a RICS-registered surveyor. The housing market changes all the time, so it’s important to get a new, up-to-date house valuation from a professional who provides an accurate worth of the property.

Read on to learn more about why you need a house valuation for probate, who organises the valuation, who can carry it out, when a red book property valuation is needed, and much more.

Why Do I Need an Official House Valuation for Probate in the UK?

As a part of the probate registration application, you will need to know the worth of the estate, including every individual property that is in it.

The estimated worth of properties, such as their home or other buildings, will become part of a report that calculates how much inheritance tax you may have to pay. It’s important that this worth is accurate because if the person who has died is a widow or is planning on giving away their home to their children once they pass, the tax due to pay may be higher.

To avoid any miscalculations and to protect you against any investigations, you should get a house valuation from a trusted RICS-registered surveyor.

Who Organises the House Valuation for Probate?

Legally, the person who is named as the executor of the deceased person’s will is responsible for calculating the total of all assets. There may be more than one person who are the deceased’s ‘personal representatives’, or there may be none.

In the case where no representatives are named, or in instances where a will has not been made, an administrator will be appointed.

Who Can Carry Out the Valuation?

Property valuation is a complex process that requires training and in-depth knowledge of the current property market. For this reason, only a Chartered Surveyor should conduct a probate valuation.

According to HMRC’s official guidance, for estates worth over £325,000, a professional house valuation from a chartered surveyor is required. For estates worth under £325,000, or where the entire estate is being passed to a spouse or civil partner, an informal valuation from a professional body may be considered. This could include companies like estate agents that often offer free valuations for houses they sell.

Do I Need a Red Book Valuation for Probate?

Yes, you will need a red book valuation in order to get an accurate valuation for probate. A red book valuation is the standard by which surveyors carry out the valuation. As a quality standard for surveyors, all RICS valuations are classed as red book valuations.

As the term red book valuation refers to the quality standard, they can have different purposes such as probate, shared ownership, or capital gains. Because you need to get an accurate value of the property, you’ll need a red book valuation such as those at Crest Surveyors to get an accurate price.

Selling the Property for More Than the Probate Value

It’s important to consider that you may be taxed more if the property was sold for more than the probate value amount. You may also be liable to be taxed for Capital Gains. Using a professional Surveyor will help to minimise this risk, as your valuation will be in line with current market prices.

Selling the Property for Less Than the Probate Value

So, if you get charged more tax if the property sold for more than the probation valuation, does this mean you will get charged less tax if the property sold lower than its worth? The answer is yes.

If the property sold for less than the appraised value, then you may be entitled to a tax refund for overpayments. Before you apply for a refund, it’s important that you first contact a solicitor to validate your claim and ensure that all laws for this process are followed.

How Do Property Valuations for Inheritance Tax Work?

The executor of the will, or persons responsible for the estate, will be in charge of paying inheritance tax. Every estate has a tax-free allowance of £325,000 including assets, meaning that you are only charged with inheritance tax on any amount that goes above this figure. The current rate of inheritance tax stands at 40%.

For example, if the deceased person’s estate is worth £500,000, and £325,000 of that is tax-free, then inheritance tax will only be charged on £175,000. This means that the total amount payable on an estate worth £500,000 would be £70,000.

House Valuations for Probates in London

At Crest Surveyors, we understand that the probate process can be complex, difficult and overwhelming during a time of mourning. Our team is here to help make this process easier and reduce stress to ensure that all properties are dealt with smoothly after a loved one has passed.

Our team are all RICS Registered Surveyors, and we offer a full probate valuation, and Red Book Valuation. We’ll work closely with you to guide you through all formalities and stages during this time.

This includes our cost-effective pricing system which means we guarantee a fair market price for all services. Our house valuation for probate prices starts from £450, including VAT.

Get in contact with one of our team members to receive a quote on any valuations needed for probate-related enquiries.

House Probate Valuation FAQs

What Does Probate Mean?

Probate is the term used to describe the legal processes that deal with the deceased person’s estate. This includes any properties, possessions and savings.

What Will Happen to the Property After The Valuation?

Once you’ve obtained your probate value for the property, you’ll be provided with a clear indication of how much the property is worth in the current market. What happens to the property next depends on a variety of factors, such as if you’re inheriting the property, or if you’re wishing to sell the property.

How Many House Valuations Do I Need for Probate?

To value the property itself, you’ll only need one house valuation from a RICS-registered surveyor to get an accurate picture of the property’s worth. However, you’ll also need to value the other assets, which might include multiple valuations from experts in different fields if there are items of worth.

What Is Looked at in a Full Structural Survey?

Posted on November 15, 2022April 14, 2025 by Thomas Awoleye

If you’re looking to buy a new property, then you’ll want to ensure that your money is being invested in a structurally sound and safe building. This is where a full structural survey is essential. It’s important to be aware of any potential issues, damages or factors that may decrease the property’s value. So, what’s covered in a full structural survey?

A full structural survey, also known as a Level 3 Home Survey, offers a level of inspection that covers every basis, such as a detailed description of every part of the building, any potential hazards that may cause future damage to the property, and a cost breakdown of fixes that need attention.

Read on to find out more about full structural surveys, when you’ll need one, how long it will take, how long it’s valid for, and more.

What Is Included in a Full Structural Survey?

A full structural survey is the highest level of survey you can purchase to investigate the condition of a property. This type of inspection not only determines if there’s any additional costs to fix any potential problems, but also how much those costs are estimated to be and how urgent they are to get fixed. In a nutshell, you’ll be provided with a complete comprehensive overview of the property’s condition.

To be more specific, your full structural survey will include:

Room-by-room descriptions and detailed analysis of the building’s condition.
Photographs to document any evidence of the property’s condition.
Descriptions of any potential hazards that need to be addressed.
Cost breakdown of any potential fixes that will need attending to.
Energy Performance Certificate (EPC) and energy efficiency advice.
Details of any legal matters relating to the property.

The level 3 Home Surveys examine all physical details of the property, from large problems to small defects in more detail. If you live in the property that’s due to be inspected,it’s worth considering that they may feel intrusive. However, to safeguard the condition of your property, they’re worth the short inconvenience. Of course, they will force or open up the fabric of the building without your consent. If you should not give consent, they will provide this information in the section about the limitations of the survey on their report.

For more information on what’s included in a full structural survey in London, read the RICS guide on Building Surveys.

Who Carries Out a Full Structural Survey?

Only a RICS (Royal Institution of Chartered Surveyors) Chartered Surveyor can carry out the in-depth inspection of your property that’s required for your full structural assessment. This is to ensure that the client is provided with the highest quality survey from an experienced and trained professional, and that the survey is carried out to the best standards. This not only protects the client to guarantee that they’ve been provided with an outstanding service, but also helps to protect the property by identifying any minor or serious defects that may need addressing.

How Long Does a Full Structural Survey Take To Come Back?

Due to the in-depth requirements of this survey, they often take an average of two to five hours to complete. This does not include writing up the report, which should be issued to you within 6 working days after the inspection. For this reason, if you’re planning ahead for your house structural survey, then it’s worth making sure that you’re available for the whole working day to have the survey completed.

How Long Is a Full Structural Survey Valid For?

If you’re selling your house, your report should be no more than 12 weeks old to ensure that it has the most up to date information possible. If your report is older than this, mortgage lenders could request a new report.

Outside of selling your house, the report doesn’t have a fixed expiry date. If you’re conducting a house structural survey on a property that you’re looking to buy, you’ll want to get this done once you’re ready to continue the homebuying process. Otherwise, issues that are raised in the report could worsen before you buy the property.

Do I Need a Full Structural Survey?

When looking to cut down on costs during the process of buying a property, most people often ask the dreaded question, “do I need a full structural survey?” To avoid the risk of any surprise damages or costs once you’ve moved in, the answer is always yes. This is especially the case if your potential purchase property is grade listed, old or has any unusual features.

While they’re not a legal requirement, a house structural survey provides the peace-of-mind that the money in which you’re using to purchase your property is a sound investment. Or, if you’re selling, it shows potential buyers that your property is safe and won’t cost them to get repaired. For this reason, they’re essential for providing reassurance to the buyer that their new property is in great condition. If any problems are identified within the survey, you may be entitled to request to the buyer that they fix it before the property is sold.
The truth is that unless you carry out a survey, you won’t know the full condition of the property until you have full access to it. To protect yourself against any unwanted costs, a full valuation survey will address all or any issues.

How Much Does a Full Structural Survey in London Cost?

As one of the most comprehensive and detailed surveys you can have conducted, it may come as no surprise that the cost of a full structural survey in London is higher than that of a standard property survey. On average, a Level 3 Home Survey can cost anywhere between £400 to £2000.

Is It Worth Paying for a Full Structural Survey?

It’s always worth investing in a comprehensive survey of a property that you’re looking to buy. Studies show that around 67% of buyers are able to renegotiate their offer or request that the seller carries out repairs after performing a survey. This means that should you find faults with the property in question, you can negotiate with the seller or make an informed decision on whether you want to walk away or continue.

This could save you a lot of money, but also prevent a lot of the stress that comes with purchasing a home and wondering if you’re made the right choice.

What Do Problems Found in a Full Structural Survey Cost?

As always, the cost of repairs will always depend on the scale and nature of the issue, so it can often be difficult to estimate. It’s always important to get a quote from specialist contractors before making your decision. Your surveyors will also give you estimated costs as a part of your full structural survey. Here’s a list of the most common issues that around from a survey and how much they cost to fix:

Damp – While this may be fixed by heating the property efficiently and removing humidity, if work is required it can cost around £2,750.
Asbestos – Asbestos can still be found in older buildings and homes. Removal will often cost around £2,500.
Insulation Problems – The cost of upgrading or replacing insulation will be around £1,500.
Electrical Issues – You may only have to pay for an Electrical Installation Condition Report, but if you’re unfortunate enough to require a full rewire it will cost around £4,000.
Flat Roofing – Flat roofs often have considerable wear and tear or sagging, this can cost around £1,200 for a replacement.
Faulty Drain Pipes – Replacing drain pipes is normally about £650.
Invasive Plants – Plants can often grow through cracks in concrete or drains. Depending on the plant in question, this could be close to £3,000.
Structural Issues – Issues such as cracked walls and things that suggest structural movement could cost an average of £13,500.
Roof Issues – Simple issues such as broken tiles cost around £100 per six tiles. However the cost of a 3 bedroom house’s roof adds up to a whopping £7,000.
Bug Infestations – Wood boring insects in particular can be a massive problem, especially in older houses with wood frames. This could cost around £1,000 to correct.

Full Structural Surveys With Crest Surveyors

If you’re looking for a RICS-qualified Chartered Surveyor to conduct your full property valuation within London and the surrounding areas, then our qualified and experienced team at Crest Surveyors are here to help.

We provide budget-friendly house valuations to provide you with security and confidence to aid you in your decisions. Not only do we provide a thorough report to detail your completed surveys, but we’re also available to assist with any questions, legal guidance and support during your property purchase journey.

To learn more about our full structural surveys, simply contact one of our team members today.

What is Included in a Dilapidation Survey?

Posted on October 14, 2022February 6, 2025 by Thomas Awoleye

A Dilapidation Schedule is a valuable evaluation of a property that inspects and identifies any damages and repairs needed to a property. Used primarily for rented properties, Surveys and Schedules are useful to protect both the property, the landlord and the tenant from unexpected costs and are used to quickly settle any disputes.

It’s important to organise a Dilapidation Survey at the beginning of each tenancy agreement to keep a detailed record of the condition of your property. A Dilapidation Schedule, in comparison, is conducted at the end of the tenancy. If you’re a tenant, this will protect you from any unfair charges from damages that you did not cause, such as any repairs that were needed before you moved in. For landlords, they help to ensure that your property is well-kept and maintained between tenants.

So, what exactly is included in a Dilapidation Survey? Dilapidation Surveys are used to document the state of a property prior to a new tenant moving in. They typically include information about the building fabric, mechanical, gas, and electrical components, furnishings and decor, general wear and tear, and any repairs that need completing.

Our team has put together this short, useful guide to help you learn all the facts about these types of reports.

What Does a Dilapidation Survey Involve?

Dilapidation Reports involve a room-by-room inspection, including photographs, to look for any damages, required repairs or structural issues with a building. This will also include an external examination of any land, such as gardens, drives or car parks for large properties, such as offices. These surveys aim to set out the standards for the tenant to maintain during their lease agreement.

What’s Included in a Dilapidation Report?

Once your completed Dilapidation Report is complete, you’ll be provided with an in-depth report examining, but not limited to:

Mould
Stains
Holes
Damp and decay
Plumbing conditions
Wall/structure cracks
Ventilation
Blemishes
Damages to surfaces
Damages to fixtures/fittings
Defects
Assessment of accessible areas
Assessment of fire exits

Each report will also document the time of completion, the weather conditions during the inspection, the areas of property examined and more. The completed Survey or Schedule of Dilapidation will provide all details of any specific tests included, and the following results.

It’s important to note that a survey is not the same as a valuation. A survey is a comprehensive report that details the condition of a property, while a valuation provides the predicted amount your property is worth on the current market.

Who Can Carry Out a Dilapidation Survey?

It’s important that who you choose to carry out your Dilapidation Report is a trained professional who is an external, non-bias third party member. This means that that person is in no way associated with either the landlord, or the tenant, and does not make any kind of benefit from completing the survey. This includes any type of financial or personal reward.

Can You Carry Out Your Own Survey Report?

No. Only trained and experienced building consultants or surveyors can perform a dilapidation schedule. They are highly complex documents and require training, certification and experience before conducting. For more information, explore the RICS Professional Guidance and Standards for dilapidations.

Dilapidation Surveys at Crest Chartered Surveyors

Crest Chartered Surveyors are experienced in all aspects of property valuations and surveying. If you require more information about Dilapidation Surveys or Schedules, contact one of our team members today to receive any help you need. We offer a thorough Dilapidation Survey that is quick and cost-effective to help you maintain the condition of your properties.

Frequently Asked Questions

What is a Dilapidation Survey?

A Dilapidation Survey is an in-depth report that provides details about the current condition of a property. Used primarily for properties that are rented, Dilapidation Surveys document any damages or wear and tear that may require repairing or replacing.

Who Needs a Dilapidation Survey?

A Dilapidation Survey is beneficial to both a landlord, and their tenant. For the landlord, the survey will clearly identify and document any minor or major damages to your property. For this reason, it’s important to complete this survey at the end of each tenancy before a new one commences.

For the tenant, this survey will protect you against claims of damages that you have not caused. This provides reassurance that no surprise charges will occur at the end of your lease agreement.

Are Surveys Required by Law?

No, Dilapidation Surveys are not required by law. However, they are useful and valuable for solving and avoiding any disputes regarding damages and costs between a landlord and tenant. They can also be used as evidence in court to settle any landlord/tenant disputes. For this reason, they are extremely important to consider at the end of each lease agreement.

How Much Does a Survey Cost?

The average cost for a Dilapidation Survey or Schedule costs between £750 to £1000.

For Dilapidation Schedules, it is usually a part of the rent agreement that the tenant covers the cost of these reports if they are required. This is why it’s important to consult your lease agreement and landlord for more information.

How Long Do Surveys Take?

At Crest Surveyors, Dilapidation Reports usually take between 2-4 hours to complete, with the final report being with you within 7 to 10 working days.

Can I Do My Own Schedule of Conditions?

Posted on August 10, 2022February 6, 2025 by Thomas Awoleye

Schedule of condition surveys are an important aspect of any tenancy agreement, but can just anyone complete them? In this blog, Crest Surveyors whether you can complete your own schedule of conditions survey as well why they are such an important piece of documentation.

So, can I do my own schedule of condition? With the landlord’s permission, anyone is able to complete a schedule of conditions survey, provided that they follow the correct structure to ensure all details and relevant aspects are included. Despite this, it is advisable that a qualified surveyor completes the survey for accuracy.

Keep reading to find out more about how long the schedule of conditions is valid for as well as why they are so important.

Page Jumps:

Can I Do A Schedule of Condition Myself?
Why is a Schedule of Condition Important?
How Long is a Condition Survey Valid For?
What is a Schedule of Condition Cost?

Can I Complete My Own Schedule of Condition?

Schedule of conditions can be produced by anyone with the owner or landlord’s permission, however it is advisable that a professional is hired to undertake this task. The reason for this is because they will have the experience to complete the schedule of condition both thoroughly and accurately, without missing out any vital steps. This means that, if the schedule of condition was to be used as evidence in a dispute, you can rely on the documentation being detailed and accurate enough to support the argument.

How Long Will It Take You to Produce Your Own Schedule of Condition?

Typically a schedule of conditions survey will take a couple of days to complete and put together by an expert. However, if you have never done one before, it can be easy to underestimate the detail required for one of these surveys, which may result in it taking longer than normal. For example, one aspect of the survey involves providing a list of definitions based on the descriptive terms within the document.

For instance, if you have described a something as ‘majorly damaged’ you would have to provide a definition of the word majorly. This is significant because it ensures that any future readers will be able to accurately translate your descriptions. As a result, the effort it takes to provide clear definitions of terms used, like many other aspects of the survey, would result in taking a long time for someone without experience.

Is There a Risk to Producing Your Own Schedule of Conditions?

When it comes to completing the schedule of condition survey yourself, there is always going to be some level of risk that you have missed something important and made an error. This is because you do not complete a schedule of conditions regularly, therefore you are not as knowledgeable about what to include and the level of detail required. While human error is never 100% alleviated when an expert completes this document, there is a significantly reduced chance of missing details because they will be experienced in completing them on a regular basis.

What You Will Need to Produce a Schedule of Condition Yourself?

To undertake the schedule of condition yourself you will need to follow the typical structure used by experts. The structure of a schedule of condition helps to ensure that you cover all aspects of the property and provide appropriate details. The typical structure of a schedule of conditions survey includes:

The Purpose of the Survey
Details of the Location and Extent of the Property
Restrictions of the Inspection
Weather Conditions and the Date of Inspection
Description of the Property and Condition of Elements
Photographs or Relevant /Drawings of the Property.
Definitions of Terms Used

To learn more about what should be included in a schedule of conditions survey, take a look at a recent blog here.

Why is a Schedule of Condition Important?

A schedule of conditions survey is important because it acts as evidence of what the condition of a property was before a tenant moves in. This is important because it can support the landlord’s argument if the tenant attempts to dispute some damage that they have caused to a property whilst under contract (or visa-versa). Without an accurate and up-to-date schedule of conditions, you do not have a benchmark that the tenant has to meet when leaving the tenancy. Instead they can claim that certain areas of damage were present before they moved in and you will have no evidence to prove otherwise.

Another reason why a schedule of conditions survey is important is because it simultaneously acts as an audit of the property. When a property is between tenants, it can be a lot easier to evaluate the condition of a property and flag up any major concerns. For example, you may find evidence of dampness in the property behind some furniture that you would not have noticed during regular inspections. This can be extremely helpful because you may be able to identify issues that can be prevented from getting a lot worse.

How Long is a Condition Survey Valid For?

A schedule of conditions survey does not have to be completed annually under law, however it is usually recommended to complete them between each new tenant. This is because it can help you to determine the condition of every element within a property before a tenant moves in and then use it as a benchmark for when they leave. Arguably, on a logical level, a survey of condition is valid for the length of the tenancy until a new tenant enters, because if you do not complete one between each tenant you will not be able to determine under which tenancy damage has been made.

What is a Schedule of Condition Cost?

In short, there is no standard cost for a schedule of conditions survey because it ultimately depends on the size and complexity of the property. For example, it would be unrealistic for a survey of an average terrace house to take the same level of detail and time as a 5 bedroom detached house due to additional size and rooms. However, at Crest Surveyors we do charge a minimum charge of … due to us being RICS qualified surveyors and being confident in our ability to deliver a comprehensive schedule of conditions survey.

Schedule of Condition Surveys at Crest Surveyors

At Crest Surveyors, we have years of experience in completing schedules of condition surveys for both commercial and residential properties. What’s more, our surveyors are also registered under RICS legislation so you can be sure that we are meeting some of the structured property surveying standards across the UK.

To save yourself a considerable amount of time, get in touch today to chat about our schedule of conditions survey service.

Is a Valuation the Same as a Survey?

Posted on June 6, 2022February 6, 2025 by Thomas Awoleye

Often valuations and surveys are mistakenly used as interchangeable terms, however there are large differences between the 2. In this blog you will find out the differences and which is the right path for the property you own or the property you are trying to purchase.

So, is valuation the same as survey? Often mistaken for being the same, RICS property valuations don’t provide the same in depth information as property surveys. A valuation’s purpose is to report on the visual analysis of the property to determine the market value. Surveys detail the defects of the property and how they can be resolved before the property is sold or bought.

Read on to learn more about the differences between property valuations and surveys.

What is the Difference Between Valuation and Survey?

Home owners may not know the difference between RICS property valuation and survey due to it not being made clear and, as a result, use the terms interchangeably. However, RICS property valuations and surveys have very different purposes. Below we have detailed the process and purpose of both property valuations and surveys so you can understand which is the correct path to go down when selling or buying a property.

RICS Property Valuations

The purpose of a RICS property valuation is to ascertain the property’s market value. It involves a RICS property valuer performing a visual inspection and analysis of a property. They use this inspection to create a detailed report on their findings to work out the property’s market value and determine how to share any joint assets, if relevant, when the property is sold.

It is strongly recommended that you have a RICS property valuation before selling property to ensure you have the correct market value and help the selling process go smoothly, saving you both money and time. Property valuations should only take around 30 minutes to complete and the detailed report should be delivered within 6 working days.

You are likely to require a RICS property valuation when you are trying to secure a loan against your property as the loan company may request a secured lending valuation. If you are purchasing a property, it is important to ensure that you don’t overpay, so getting a valuation report can help you determine the value. When you are on the selling end of a property, you also want to make sure that your selling price is fair for buyers.

If you are trying to work out how to equally split the value of a joint owned property, a matrimonial valuation also known as an expert witness valuation*, can be used in the case of divorce proceedings. A valuation may also be needed when you are reporting on companies’ assets to provide the current market value of the property.

Standard RICS property valuations start from:

£349 for up to a 2-bed property
£369 for a 3-bed property
£399 for a 4-bed property
£449 for a 5-bed property

*Fees for expert witness valuations differ from the standard RICS property valuations. Please contact us for a quote for an expert witness.

Check our website for more information on RICS Property Valuations with Crest Surveyors.

Property Surveys

Property surveyors assess the condition of a building to determine if it is suitable for occupants, and use that information to create a comprehensive report. There are 3 different kinds of property surveys that you may require, that varies depending on the type of property that you are trying to buy or sell:

RICS Homebuyers Survey

Homebuyers surveys are used to assess every part of the property to evaluate its condition to help potential buyers make an informed decision. Depending on the size of the property, homebuyers surveys start from £529. Every accessible part of the property within the boundary is also assessed including the pavement surrounding the property. Any hidden defects such as timber decay and damp should be identified during the survey.

You could need a homebuyer survey for the purchase of properties built within the last 50 years and for standard construction homes. If you are unsure about the condition of a property you are wanting to purchase, it would be strongly recommended to have a homebuyer survey so you know that it is safe to live in. Other reasons to get a homebuyers survey include determining the extent of renovation needed, or to negotiate a lower purchase price.

Building Survey

Building surveys are an in depth analysis which determine any defects, damage or potential issues with the property which affects the suitability of living. This type of property survey is recommended for buildings over 100 years old, and for properties that have been altered or extended. If you are aware that the building has a history of structural damage or if you suspect it, a building survey can give you an accurate report of the damage.

Building surveys start from:

£699 for up to a 2-bed property
£759 for a 3-bed property
£889 for a 4-bed property
£989 for a 5-bed property
Properties over £1million are charged at a higher fee.

Defect Analysis Survey

Defect analysis surveys can be conducted on both residential and commercial properties to detail any defects for owners and buyers to ensure they make informed decisions. Starting from £450, defect analysis surveys detect many issues including, dampness, structural issues, roof covering defects, downpipe and gutter defects to name a few.

The survey helps determine how serious defects are, what is causing the problem and recommended solutions for fixing the defect. The implications of leaving the defect as it is will also be included in the report along with a suitable time frame before it becomes a bigger issue.

Are Both Valuations and Surveys Required?

Although a RICS property valuation provides a detailed report on the visuals of a property, it will not list any faults or issues, so may not be sufficient enough on its own. If you are purchasing a property, you may choose to only have a valuation so you know that you are not paying over the market value. However, you won’t have details on any problems with the property that can affect your quality of life and safety.

It is strongly recommended that you have a combination of valuation and survey to ensure that you get all of the information required for the market value and whether it is suitable and safe for new occupants.

RICS Property Valuations and Surveys at Crest Surveyors

At Crest Surveyors, all of our surveyors are members of the Royal Institution of Chartered Surveyors (RICS), providing RICS property valuations and property surveys . This means that not only do you receive a service second to none, but also receive the quickest and most cost-effective solutions for your survey and valuation needs.

Enquire today to find out how we can determine the value of your property, or ring us on 020 3940 1118.

Do I Need a Surveyor For Shared Ownership?

Posted on June 6, 2022February 6, 2025 by Thomas Awoleye

Purchasing or selling properties for the first time can be complicated, nevermind when you are under a shared ownership. As such, it is important to know the legal requirements regarding chartered surveying when you are under a shared ownership. In this article, we discuss whether or not you actually need a surveyor for shared ownership.

So, do I need a surveyor for shared ownership? If you own a property under a Help to Buy Scheme or Shared Ownership Scheme, and are looking to sell your shares or purchase more shares, you will need a surveyor. It is a legal requirement that a RICS chartered surveyor completes an independent valuation on shared ownership properties to justify the value before moving forward.

Keep reading to learn more about surveys for shared ownerships, including what a shared ownership valuation involves, and what happens if you don’t agree with the lender’s valuation.

Page Jumps:

Do I Need a Surveyor For Shared Ownership?

What is a Shared Ownership Valuation?

What does a Shared Ownership Valuation Include?

What Happens if You Don’t Agree with the Lenders Valuation?

Do I Need a Surveyor For Shared Ownership?

If you have purchased a property under a shared ownership agreement, such as a Help to Buy Scheme, and are wanting to sell it, or want to buy more shares in the property (also known as staircasing), you will require a valuation. In this case, it is a legal requirement that the property must be surveyed by a RICS registered surveyor. This will ensure that an independent valuation is provided for the property and factored into the mortgage valuation when the property is sold.

If you wish to sell off, or buy more shares in your property, the chartered surveyor completing the valuation must be registered under RICS. This is important because it will ensure that a valuation is formed with no bias towards either party. The RICS’s qoverning body is a globally recognised governing body, that promotes some of the highest standards in property surveying, so you can be confident that you will be receiving a fair and accurate valuation on your shared ownership property. The Government normally part-owns shares within Help to Buy properties, therefore they will arrange their own surveyor to visit your property to calculate a valuation. It is important that you arrange for an independent surveyor to complete a valuation on your behalf, to cross reference against the other party’s valuation.

What is a Shared Ownership Valuation?

A shared ownership valuation is an independent valuation that is completed when someone wishes to buy more shares of, or completely sell their property, which falls under a Help to Buy Scheme or a Shared Ownership Scheme. The valuation takes into consideration the condition of the property and other aspects such as the area, to calculate a numerical value for the property. From this, an agreement can be formed, and a price can be offered for the buyer to purchase more shares in their property or for them to sell their property.

What does a Shared Ownership Valuation Include?

When a shared ownership valuation is completed accurately, it takes into account a variety of factors which are then used in the calculation of the valuation. It is important that each of the factors are considered properly because if one is missed out it may significantly affect the figure of the valuation, which may result in the owner paying more for additional shares than they should be. Below we have detailed the main factors that should be considered in a shared ownership valuation.

Inspection of the Location and Construction of the Property:	A local chartered surveyor will be required to complete an inspection of the location and construction of the property. This can include assessing the local amenities, landmarks, and transportation accessibility as well as recognising any key issues with the structure of the property. These two factors can alter the value of the surveying significantly, especially if the area is well-known for crime or the property has a serious structural issue that could affect the future of the property.
Overview of the Properties General Conditions with Photos Taken:	A local chartered surveyor will be required to complete an inspection of the location and construction of the property. This can include assessing the local amenities, landmarks, and transportation accessibility as well as recognising any key issues with the structure of the property. These two factors can alter the value of the surveying significantly, especially if the area is well-known for crime or the property has a serious structural issue that could affect the future of the property.
Details of 3 Similar Nearby Properties:	As part of the shared ownership valuation, the chartered surveyor will also need to identify 3 similar properties in the area that are close in size, age, and type. The 3 properties must also be within a 2 mile radius of the property being valued to ensure that there is a realistic comparability between the locations of the properties. By identifying 3 similar properties in the area, the surveyor will have some guidance on what similar properties are valued at and this can be very useful in calculating the property valuation.
Valuation of the Property:	Once all of these factors have been considered, the RICS chartered surveyor will come to a decision on a valuation of the property. This should include a detailed description of any issues found in the property alongside evidence in the form of photographs. Assumptions made on the property in terms of area or structural problems such also be explained in this section too.

What Happens if You Don’t Agree with the Lenders Valuation?

In most cases, under a shared ownership valuation, the chartered surveyor will come to a similar valuation as the surveyors provided by the Government. However, on some occasions they may not agree, so it can be helpful to know what your options are. Below we have explained the options you have if you don’t agree with the valuation provided.

Provide Evidence of 3 other Properties:

If you do not agree with the valuation provided by the Government, one of your options would be to contest it by providing evidence of 3 other similar properties. These properties must be similar in size, age and location to be considered truthfully comparable, but if so they can be a great argument for disputing the lender’s valuation.

Send the Valuation to the Government:

If the lender is from a private company, you can gather your evidence and send it across to the Government to be appealed. The Government can then assess the information and recommend an alternative valuation if they find it appropriate to do so. This may not work in your favour every time, but is still an option.

Cease the Application and Request Another with a New Surveyor:

If at this point you are still not pleased with the valuation you have received, you can cease your application and restart the whole process. This might seem like a tedious process but it means that you will be able to request a different surveyor. It is important to note that you cannot request a specific surveyor but you can request an alternative one. If you truly believe that the valuation is not accurate, then this can be a way of getting a different opinion.

Shared Ownership Valuation Surveyors at Crest Surveyors

Crest Surveyors are experienced RICS registered chartered surveyors who can be trusted with RICs property valuations and Shared Ownership Surveying. Providing both independent and honest valuations for your shared ownership properties, means that you can feel confident when looking to sell or buy more shares in your property.

If you are interested in our Shared Ownership Surveyor services, click here to find out more.