Property Health Check was developed by Richard Hocking, a Chartered Surveyor based in Falmouth, Cornwall with over 25 years’ experience. Having inspected over 17,000 properties during his career, Richard has identified many defects which surveyors will be looking for when undertaking either a private survey or valuation for mortgage loan purposes. On many occasions, these defects taken individually can be regarded as relatively minor and perhaps not of concern, however when several defects are found together this may result in the need for significant expenditure.
This can often result in a down-valuation of the property or, alternatively, a purchaser being put off to the extent that they will wish to significantly renegotiate the purchase price or, at worst, withdraw completely. Richard felt that it would be very useful for house sellers to be more aware of defects which are likely to be identified in a survey or valuation, and the Property Health Check video provides a valuable insight to the problems which may arise and can therefore be remedied prior to sale. Personalised Property Health Check & Defects Reports can also be provided on individual properties.
This then enables vendors to remedy any problems which individually may be regarded as minor issues, but when grouped together can often become deal breakers. Should more significant defects be apparent, vendors can obtain quotes for works so that these are readily available should purchasers wish to renegotiate. The aim of Property Health Check is to help avoid any nasty surprises when the surveyor visits and help smooth the survey and valuation process.
The purpose of the Property Health Check video is to help vendors of properties identify defects that the surveyor will be looking for. If these defects can be identified at the beginning of the selling process, or even before the house is placed on the market for sale, then this could well result in a much smoother ride through the valuation and survey process. It will help identify problems that may have otherwise resulted in a significant renegotiation, which in turn could adversely affect not only the sale of your property, but also the purchase of the one you are looking to buy.
By the nature of the subject, the video cannot be regarded as all embracing in respect of defects found in houses, but concentrates on some of the more common issues that can be easily, and hopefully relatively cheaply, identified and resolved by most vendors. However, if for example your roof has now reached the end of its natural useful life and requires replacement, you would not be expected to instigate these works in order to sell your property, but it may be very helpful to obtain a quotation for replacement so that when any renegotiation takes place you are in a stronger position.
The Property Health Check video is broken down into sections relevant to different parts of the property. The video is not property specific, but is aimed to identify common defects found in many different types of property. There will be some property types, such as cob cottages or thatched dwellings, that have very specific areas of potential concern, and if you feel your property falls into one of these brackets then a more personalised Defects List will prove to be a very useful selling aide.
“We can see that as the loan to value ratios have become much tighter for mortgage lenders, the Property Health Check video will greatly assist all three of our offices in achieving satisfactory sales for our clients by avoiding unnecessary down-valuations or adverse survey comments. We will be highly recommending all our clients to take on board the potential benefits of PHC at the outset of their marketing programme.”
“The Property Health Check scheme is a fantastic opportunity for our clients to prepare their house for the survey and valuation process. We can see that this will not only greatly help their sale progress, but will also reduce the need for significant renegotiation later in their sales transaction and expedite exchange of contracts.”
“We believe that the PHC will greatly assist our clients in the sale of their properties. All of our thirteen offices throughout Devon and Cornwall will be recommending our clients to view the website in order to help their sales through the survey and valuation process, greatly reducing the stress associated with this pivotal point in the transaction.”