Category: Surveying

What Should a Schedule of Conditions Survey Contain?

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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 SurveyThe 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 PropertyThe 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 InspectionBoth 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/ 

Can I Do My Own Schedule of Conditions?

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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. 

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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?

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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?

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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. 

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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.