PRESALE VALUATION - TERMS OF ENGAGEMENT

The presale valuation is a limited inspection and report designed to provide the client with general information only as to the marketability of the property they wish inspected coupled with an opinion of open market value. The report may also contain advice on asking price, marketing and whether or not obvious or known defects should be repaired prior to the subjects being exposed for sale. The inspection is not a survey nor is the report suitable for mortgage lending purposes.

No attempt will be made to inspect roof spaces and comments on roofs will be on an inspection from the external only. The surveyor will not inspect under floor areas or other parts not readily accessible. The exterior and roof of the property will be inspected from ground level only. The area of the property will be taken into account and the rooms individually inspected, but floor coverings and furniture will not be moved and services (such as water, gas and electricity) will not be tested. Although a Valuer who will usually be a qualified Surveyor will carry out the inspection it is not a detailed inspection of the property and only major visible defects will be noted. The report may suggest that prior to exposure for sale further investigation might be necessary, particularly where hidden defects are suspected and where these may have a material effect on the value of the property.

We will not inspect parts of the property, which are covered, unexposed or inaccessible and will, therefore be unable to report that any such part of the property is free from defect. Consequently the Surveyor will reserve the right to reappraise his advice if significant defects are identified at a later date following a more detailed and/or disruptive inspection of the property. The report will give a recommendation as to price but will not generally outline condition unless the condition is so significant as to have a speculative effect of value. It may be that the Surveyor will recommend in certain circumstances a more disruptive inspection and detailed report be prepared prior to marketing.

In accordance with our normal practice, we must state that the report will be for the use only of the party to whom it is addressed or their named client and no responsibility will be accepted to any third party for the whole nor any part of its content. In addition, we bring to your attention that neither the whole nor any part of the report nor any reference thereto, might be included in any document, circular or statement without prior written approval of the form and context in which it will appear.

For the purposes of the valuation, we will assume that all ground burdens are nominal or have been redeemed and there are no unusual or onerous restrictions contained within the titles of which we have no knowledge. We will further assume that the subjects are unaffected by any adverse planning proposals and that there have been no breaches of Planning or Building Regulations.