SPEIRS GUMLEY STANDARD CONDITIONS OF ENGAGEMENT FOR COMMERCIAL VALUATIONS TERMS & CONDITIONS

1. THE SERVICE

• 1.1 Based on an inspection as described below the surveyor/valuer, who will be a Chartered Surveyor (hereinafter called “the surveyor”), will provide in a standard reporting format:
  • 1.1.1 A concise report on the general condition of the property, identifying significant defects and repairs essential at the time of inspection and referring to readily apparent potential hazards;
  • 1.1.2 A brief description of the property and any factors likely materially to affect its value;
  • 1.1.3 The surveyor’s opinion of the “market value” at the date of the inspection on the assumptions set out below and, if different, the value on the assumption that any essential repairs identified have been carried out satisfactorily;
• 1.2 The report will not purport to express an opinion about or to advise upon the condition of uninspected parts and should not be taken as making any implied representation or statement about such parts; nor will it mention minor defects which the surveyor considers do not materially affect the value of the property. If the report does refer to some minor defects this does not imply that the property is free from other such defects.
• 1.3 The report is provided for the sole use of the named clients and is confidential to them and their professional advisers. No responsibility is accepted to others.
• 1.4 In preparing the report the surveyor will exercise the skill and diligence reasonably to be expected from a surveyor and valuer competent to advise on the subject property.
• 1.5 The report will not identify the existence of contamination in or from the ground, as this can only be established by other specialists.

2. THE INSPECTION

• 2.1 The Building
  • 2.1.1 The surveyor will undertake a visual inspection of so much of the exterior and interior of the property as is accessible with safety and without undue difficulty. Accordingly, the report will cover all that part of the property which is visible whilst standing at ground level within the boundaries of the site and adjacent public/communal areas and whilst standing at the various floor levels. The surveyor will open trap doors where accessible and possible with safety and without undue difficulty. However he/she will be under no obligation to raise floorboards or to inspect those areas of the property that are covered, unexposed, or are not readily accessible with safety and without undue difficulty. Therefore furniture, floor coverings, fixtures and fittings will not be moved.
  • 2.1.2 The outer surfaces of the roofs will be inspected if they can be readily seen.
• 2.2 Services The surveyor will provide an overall impression of the services, but will not test them and will not advise upon whether the property/services comply with regulations in respect of services.
• 2.3 Site The boundary structures will be inspected to the extent that they are readily visible from positions to which the surveyor is entitled to gain access.

3. THE REPORT

• 3.1 If it is suspected that hidden defects exist which could have a material affect on the value of the property, the surveyor will so advise and recommend more extensive investigation prior to entering into a legal commitment to purchase. It may be appropriate in exceptional circumstances to defer making a valuation until the results of the further investigations are known.
• 3.2 If it is not reasonably possible to carry out any substantial part of the inspection (see section 2 above) this will be stated.
• 3.3 Any obvious evidence of serirame>