By Euro Weekly News Media • 25 June 2019 • 17:19
BUILDING SURVEY: Provides valuable information.
IF you buy a property in Britain, you will normally get some form of a building survey completed before signing on the dotted line. If you are taking out a mortgage on the property it is generally a requirement to at least get a valuation report on the property.
Here in Spain, it is just as important to get this valuable information before agreeing on any purchase to realise the norms of house building and equipping a property, together with the climatic considerations on the infrastructure.
A survey helps you to understand straight from the beginning the condition of the property and will cover areas many lay-men wouldn’t even think to look at. In other words, it stops you from going in blind – and gives you peace of mind that everything is as it should be, or gives you the knowledge of how to make it that way.
Generally, there are three main types of surveys: building surveys, valuations and investment/development appraisals.
A building survey gives an in-depth report as to the condition of the building and will give advice on which defects are serious and which are not – plus how they might be corrected.
A valuation report gives you an unbiased, independent and accurate insight into the property’s market value.
Buying properties for investment – or renting out your holiday home while you’re not there – is an increasingly popular option for overseas buyers. Here again, a survey can be crucial to making sure everything’s as it should be, you can achieve the necessary Tourist licence and may even be a requirement for insurance purposes.
Obviously, if you are interested in the potential of a development opportunity then having the expertise of a surveyor is essential, for not only will a surveyor be able to advise you of the financial implications, they will be able to advise on feasibility, methodology and the legal requirements.
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