Jeskins Associates Limited


Chartered Surveyors, Project Managers

Construction and Property Consultants

Tel: (01280) 878180     Fax: (01280) 878131

E-Mail: info@jeskinsassociates.co.uk

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Building Surveying

 

Most Building Surveys are carried out prior to the purchase of a freehold or leasehold property.  A Building Survey, formerly known as a Structural Survey, is a detailed report on the condition of the property an allows a prospective purchaser to make an informed decision as to whether or not to proceed with the purchase.

 

RICS has three different types of survey, which can only be conducted by an RICS Qualified Surveyor who has a license to do so.  Importantly, it is worth remembering that a mortgage lender’s valuation report is not a survey, whereas an RICS survey will tell you the actual condition of the property, which can be vital information during price negotiations and will help you avoid expensive surprises after you’ve moved in.

 

Whether you are selling your home, or you are just after a survey of the current condition of your home, an RICS survey will warn you of defects and help you avoid escalating repair and maintenance cost in the future.

 

 

RICS Condition Report

 

The RICS Condition Report is a straight-forward report that does not include a valuation.  It focuses purely on the condition of the property, setting out clear ‘traffic light’ ratings of the condition of different parts of the building, services, garage and outbuildings, and advises of problems that may require varying degrees of attention.  The Condition Report also provides a summary of the risks to the condition of the building and advice on replacement parts guarantees, planning and control matters for your legal advisers.

 

An RICS Condition Report is suitable if you are buying or selling a conventional house, flat or bungalow, built from common building materials and appears to be in a reasonable condition.

 

 

RICS Homebuyer Survey

 

The RICS Homebuyer Survey and Report is recommended when more extensive information is required whilst buying or selling a conventional house, flat or bungalow, built from common building materials and appears in reasonable condition.  In addition to the contents of the Condition Report, the Homebuyer Service provides the Surveyor’s Professional opinion of the ‘market-value’ of the property, an insurance reinstatement valuation, a list of problems that the surveyor considers may affect the value of the property, advice on repairs and on-going maintenance, issues that need to be investigated to prevent serious damage or dangerous conditions, legal issues that need to be addressed before completing your purchase together with information on location, local environment and recorded energy efficiency.

 

 

RICS Building Survey

 

The RICS Building Survey is recommended when dealing with a large, older or run-down property, a building that’s unusual or altered, or if you’re planning major works.

 

The RICS Building Survey uses the same traffic light system as the Condition and Homebuyer Reports, but includes a more thorough inspection and detailed report on a wider range of issues, a description of the visible defects and potential problems caused by hidden flaws.  The Building Survey also provides an outline of repair options and the likely consequences of inactivity together with advice for your legal advisers and details of serious risks and dangerous conditions.

 

 

Schedules of Maintenance / Condition

 

In addition to the Building Surveys noted above, we are also able to complete schedules of condition and ongoing maintenance, usually required prior to carrying out work adjacent a neighbouring property, or at the commencement or termination of a lease in association with Landlord and Tenant matters.

 

The purpose of a schedule of condition is to avoid disputes relating to the condition of a property at a particular time.

 

 

Building Surveying


Red-Book Valuations

 

A Red Book Valuation is the gold standard of valuations and can only be carried out by a Qualified Chartered Surveyor who is also a Royal Institute of Chartered Surveyors, Registered Valuer.

 

The Red Book Valuation itself is a brief, written report, arriving at an opinion of value for a property.  The Red Book Valuation is not a detailed condition report like a Building Survey or Homebuyer Report - it is merely an official, RICS valuation of a property which offers explanations for its conclusions.

 

We are able to carry out property valuation services for lenders when making a decision whether or not to lend, based on current market values.

 

Jeskins Associates also undertake Valuations of individual properties and groups of properties for Regulated Purposes, such as financial statements and for Accounts purposes. We are also able to advise where the subject properties are held as investments.

 

Special rules apply to Valuations for Accounting purposes and, in particular, to Valuations that might be relied upon by third parties - such as in a company’s financial statements.

 

Typically, a Market or Income Approach is appropriate although in some limited cases a Cost Approach is also available (where comparable evidence is limited, due to the individual characteristics of the subject property).

 

Please contact us to find out whether we are able to assist you with your valuation requirements.

 

 

Insurance Reinstatement Valuations

 

Insurance reinstatement valuations will be required by many Clients at some point or another.  A reinstatement valuation is a calculation of the cost of rebuilding a property following total or partial destruction.  An accurate assessment will eliminate the risks associated with under insurance and will avoid payment of excessive premiums for over insurance. 

 

Production of Non Domestic Reinstatement Valuations would be carried out in accordance with the Royal Institution of Chartered Surveyors Guidance Note   ‘Reinstatement Cost Assessment of Buildings’ (GN4/2011) and Valuation Standard 1 of the RICS Valuation, Professional Valuation Standards 2014. 

 

Production of Domestic Reinstatement Valuations would be carried out in accordance with Guidelines approved by the Association of British Insurers. 

 

Our experience of preparing building reinstatement valuations covers all forms of construction; including individual residential dwellings; educational establishments; residential developments; leisure, community and religious establishments comprising both traditional and historical / conservation construction techniques.