How RICS Home Surveys can help property sellers
Most people associate RICS Home Surveys with homebuyers. However, they’re just as applicable to anyone, including people selling their houses.
There are a few ways home surveys offer tremendous assistance. Still, overall, they make your property more desirable, increasing its value.
On this page, we’ve put together a few thoughts on how a RICS Home Survey will help you sell your home.
What is a RICS Home Survey?
A RICS Home Survey is a residential survey framework. It’s set out by RICS (the Royal Institution of Chartered Surveyors), meaning customers always know exactly what they’re getting.
RICS Home Surveys are carried out by chartered surveyors (RICS members and associates).
Home surveys are designed to analyse a building’s condition. The chartered surveyor watches out for problems (common and uncommon), compiling the information into a report.
This document details any issues that have arisen, how severe they are and the approaches that might be taken to fix them.
Typically, RICS Home Surveys are organised by and for homebuyers as part of due diligence. However, sellers are equally welcome to instruct one (as are homeowners wanting to complete a property ‘health check’).
A RICS Home Survey helps you identify problems before listing your property
The key to selling any home (in fact, anything at all) is making it desirable. This directly correlates with how much people are willing to pay for it and, thus, how much it’s worth.
Some of these factors are well outside your control; for example, the local area’s reputation and amenities.
However, the majority can be directly influenced by you.
For instance, a house in good condition is far more desirable than one clearly falling apart or affected by numerous issues. Extensions and renovations might add much more to its value than what you spend on the work. Even cleaning up the outside enhances kerb appeal.
Getting a RICS Home Survey before the photos are taken and listed on the market is a surefire way to identify any problems. You can then follow the surveyor’s advice on how to repair them (or leave them).
Here are a few of the most common problems that home surveys pick up on:
- Damp– improve ventilation or fix water leaks
- Rot– eliminate moisture source, cut out and replace affected timbers, treat with fungicide
- Subsidence– maintenance plan, potential reinforcement
- Japanese Knotweed– begin a treatment plan
- Woodworm– professional chemical treatment and/or replacing affected wood
- Roof problems– replace tiles, trusses or damp membrane
- Drain issues– unclog or repair
- Asbestos– professional removal
- Faulty electrics– hire an electrician to rewire affected circuits
Getting any of these faults (and anything else the survey picks up) fixed before selling increases your home’s desirability and market value.
RICS Home Surveys can show transparency
You’re not obligated to offer prospective buyers a copy of the home survey. Still, it’s arguably the most transparent way to exchange property.
Of course, if your survey picks up on several significant problems, you’ll want to complete another one once these have been rectified.
Most people don’t do this – but it’s an option. RICS chartered surveyors provide a completely unbiased inspection, meaning it applies to anyone.
Buyers are expected to do their due diligence when purchasing a property, which usually means instructing their own survey. You’re essentially absorbing that cost on their behalf. It could be an effective carrot to dangle.
GB Home Surveys offers services to home sellers
Here at GB Home Surveys, we offer our services to home sellers, buyers and owners alike. We often work with individuals putting their homes on the market, helping them increase their property’s value and desirability.
If you need a home survey to help sell your home, please don’t hesitate to get in touch. You can reach us through the form below or by giving us a ring.
Our staff work in local teams of RICS chartered surveyors. We’re based in Devon, Cornwall, Bristol, Taunton and North Somerset, the Cotswolds, Bath, South Wales, Herefordshire, Gloucestershire, Worcestershire and Birmingham.
We look forward to hearing from you and offering our assistance as you sell your home for maximum value.