Page 10 - Your New Home May26 2017
P. 10

Instructing                              Surveying:
Solicitors:
                                         WHEN you’ve found your dream home and your offer is
Conveyancing:                            accepted, it’s important to have a survey on the property
                                         to determine its condition and value.
CONVEYANCING firms deal with the
legalities of buying a home and there      There are several types of survey available, all of which
are many excellent legal experts who     can be quite pricey. What’s more, if you are taking out
can carry out the work for you locally.  a mortgage, your lender will also require you to pay for
                                         a valuation to ensure the property is worth its price. The
 Legal fees account for a massive        valuation report, required by a lender, is the simplest and
chunk of your buying costs but a         cheapest form of valuation at around £250.
specialist will act on your behalf from
instruction to completion.                 More detailed than the valuation report is a homebuyer
                                         survey, which checks the general condition of the
                                         property, detects any major faults which may affect the
                                         house’s value and tests for damp and structural damage,
                                         among other things. A full structural survey, costing up to
                                         £1,000, is the most expensive survey and is suitable for all
                                         properties, including older ones.

10 ISLE OF WIGHT COUNTY PRESS Your New Home 2017
   5   6   7   8   9   10   11   12   13   14   15