We refer to your instructions, requiring us to carry out a limited Valuation Report for Mortgage Purposes on the above property. We are obliged by the Royal Institution of Chartered Surveyors to seek formal confirmation from you that the scope and extent of the inspection which we shall make, is in accordance with your requirements. A summary of the Conditions of Engagement upon which this valuation will be prepared in provided below.

 

It is also a requirement of the Royal Institution of Chartered Surveyors that we should seek formal confirmation from you before accepting your instructions to proceed with the inspection. We are aware, however, that these requirements are generally laid down to comply with practices South of the Border where the method of purchasing a property is substantially different. For our part we will assume acceptance of the undernoted Conditions of Engagement unless advised by you to the contrary. We would also confirm that we operate a Complaints Handling Procedure and that this is available to you on request in the unlikely event of a dispute.

 

 

1)      The property will be inspected by a qualified Surveyors for the purposes of advising upon its suitability for Mortgage Purposes. However, a final decision on whether a mortgage will be granted rests with your chosen lending institution which may impose retentions in line with their lending criteria. The date of valuation will be the date of inspection.

 

2)      The degree of inspection will be in accordance with the current guidelines for Mortgage Valuation inspections issued by the Royal Institution of Chartered Surveyors. If there is any doubt as to the scope and extent of the inspection (it is not a survey), we should be contracted prior to the submission of a binding offer to purchase and we shall be happy to provide further information. In the meantime and for the avoidance of doubt, we confirm that sub-floor areas will not be examined and roof voids will only be inspected from the access hatch without entering the roof space. Common roof voids in buildings such as tenements will not be inspected. The extent of the property will be inspected from ground level only.

 

3)      It is recognised that a detailed survey of the property is neither required nor instructed. We are specifically not required to inspect those parts of the property which are covered, unexposed or otherwise inaccessible. Carpeting and furnishings will not be removed. As a consequence, we shall, in preparing our valuation and recommendations be entitled to assume that such parts of the property that are outwith the scope of the inspection are free from defect and that there are no conditions in the adjacent properties which could have an adverse effect on the subject property.  Unless expressly stated to the contrary we will, in arriving at our opinion of Market Value make the following assumptions:-

 

a)      The property is unaffected by adverse Planning, road or other proposals or any other known proposals to amend, alter or develop any adjacent land or buildings which could have an adverse effect on the subjects under report. We shall be under no obligation to make property enquiries at local authority offices.

 

b)      The property is held on feudal tenure and is not affected by any unusual or onerous title conditions or outgoings, and that a good title<