Step 6 – Valuation and Survey

After a purchase price has been agreed, the next step is to have the property valued and surveyed to ensure that there are no problems.

The valuation does exactly what it say's on the tin, it ensures that the property has been correctly valued.

Forces Homes also initiate a homebuyer's survey report on all properties over 10 years old, which is more detailed and will advise you if there are any potential repair costs you could incur, if you go through with the purchase.

What are the Benefits?

• The survey may identify work that needs to be done.
• You get a second opinion on the asking price.
• If the property turns out to be unmortgagable a "failed survey" you will have saved yourself a lot of trouble and probably money in the future.

Failed Valuation Survey

A valuation survey can fail for 2 main reasons:

• The valuer believed the property to be overpriced
• The valuer finds a major defect