On-site property inspections by valuers certified by The Royal Institution of Chartered Surveyors (RICS) are thorough. That’s because surveyors do far more than average realtor estate agents may even contemplate. We delve into the main focus points of RICS inspections in this article, so you know why you can trust them to inspect a property diligently.
RICS Valuations and Estate Duty
It’s no wonder tax officials regard RICS reports as credible for deceased estate valuations. The Royal Institution of Chartered Surveyors founded in 1881. Since then it became the standard for fixed property valuation, management, and development in the UK.
Property often represents the core value of a deceased estate. Therefore, it must be accurately calculated, to determine any inheritance tax due. An executor may not distribute the assets to lawful inheritors without first settling this debt. The focus points of RICS inspections ring fence the value of this tax.
Four Focus Points of RICS Inspections
The true value of property lies in the land, and the integrity of any buildings on it. Inspectors from The Royal Institution of Chartered Surveyors do far more than than superficial realtor inspections. They look for signs of damp, cracking, timber decay, and insect and rodent infestations.
Many of these timber defects are hidden, as are underlying problems with roof construction. An executor should declare any un-repaired defects to a purchaser, before concluding a sale. RICS valuers look for these problems under four main categories.You should understand these criteria better after reading this article.
Primary Focuses of RICS Inspections
First Focus Point: Damp in Walls and Floors
Damp enters buildings from the roof, leaking pipes, and from the earth below. The latter is a more serious problem, because it may be surprisingly expensive to repair. A well-constructed building should not have this issue.
This focus point of RICS inspections centers on the common causes of rising damp from below. But it also extends to penetrating damp and condensation. RICS valuers use portable electronic meters and other devices to locate, and assess moisture in buildings.
Second Focus Point: Timber Decay
Dry rot is decay caused by one of several species of fungi, that digest parts of wood. This rot begins when microscopic spores settle, germinate in the presence of moisture, and proliferate. This deterioration should not happen in modern buildings with treated wood.
Dry rot beneath wooden floors, and in roof rafters can have a devastating effect on the value of buildings. This is why it is a major focus point of RICS inspections. Their authorised surveyors know where to look for signs. They understand the common causes of dry rot timber decay in buildings.
Third Focus Point: Structural Damage
Damage by dry rot to timbers supporting decks, and floors can be serious. However, this pales into insignificance compared to cracked foundations and structural walls. There are several reasons why this type of damage can occur. Some owners take half measures to curtail costs, and may even cover defects over.
Structural damage is always a primary focus point of RICS inspections, because the consequences can affect the value of buildings permanently. Possible reasons include ground stability, poor construction, flooding, and land movement. The damage may be irreparable.
Fourth Focus Point: Failing Roofs
Damage to roofs is generally repairable, because we can climb into them, and even remove and replace them if this proves unavoidable. While many homeowners view roofs as architectural features, we need to remember that they also keep buildings warm and dry inside.
Again, there several reasons that can cause roofs to distort to the extent they could become dangerous. However, even a slightly sagging roof can deter astute purchasers, and affect the market value of a property. Understanding roof problems is best left to surveyors, who are prepared to clamber inside and inspect.
Other Focus Points of RICS Inspections
We close this article with a brief summary of other aspects that RICS surveyors may address, depending on the nature of the property:
- Roof gutters and down pipes, which are supposed to lead rainwater off the roof, and away from a building.
- Roof coverings, which may be tile, slate, asphalt, thatch, or steel. These may decay, or shift in a storm.
- Surface drainage on the land itself. This can pool around a building and weaken the foundations.
Avery Associates And RICS Inspections
Avery Associates has a panel of surveyors in good standing with The Royal Institution of Chartered Surveyors. This status guarantees that they are up to date with latest trends, and have renewed their membership.
Please contact us to explore our full range of property clearance and probate services. We have been in business since 1978, and are active throughout Greater London and Southeast England.
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