My Property Survey Detected Faults...

What do I do next?

This week's Telegraph raised an interesting question. The article, 'I'm selling my home. Do I have to tell buyers about a failed survey?', discusses the undesirable situation where one potential buyer identifies structural issues with a property. This, of course, leaves the owner with a moral quandary as the house is released back to the market for other potential buyers. But whilst sympathies can be extended, there really are only two options: fix it or own up!

Any non-disclosures of essential property information could leave you in hot legal waters as it is viewed as "unfair trading". Basically, as the seller you are under the same strict ethic code as anybody selling any other product. And so, if the product is faulty, you will be held responsible.

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/11491506/Im-selling-my-home.-Do-I-have-to-tell-buyers-about-a-failed-survey.html

So, what do you do? Of course, the first step is to get expert advice from a professional. Dawson & Associates can quickly ascertain the severity of your situation and will be happy to discuss your options with you, free of charge. With over 40 years of experience, there isn't much that we haven't seen before and problems are often not as bad as they first appear. In fact, we say that "there are no problems, only solutions".

After a quick chat we can visit your property and we'll either provide a detailed report of what is required or, if you already have a copy of this from your previously interested buyer, we can put a plan-of-action into motion. Often, with some quick work and clever solutions, that original sale can be salvaged with little delay or inconvenience.

Over our years in the business, we have secured one of the best task forces in the UK. Therefore, not only can we provide the immediate survey requirements but also the construction team to fix or improve the property within budget. We will also be able to advise you if there is potential to make small changes that will increase the value of your home.

We can provide thorough and accurate Building Surveys, Party Wall Awards, Property Design, Construction Management & Legal Services for your property in the UK. Be assured that a team of professionals are providing the best possible results from your UK property investment/ portfolio.

For more information, visit www.dawsonsurveyors.com

The Value of Property Valuations

2 Bedroom Apartment v 64 Bedroom Mansion?

The Telegraph recently published an article comparing the value of two similar properties... in this case, the term "value" is being used strictly in reference to the market price. Both properties are for sale in the range of £4.25 million. 

The first property provides:

• 64 bedrooms
• 88 acres
• A ballroom
• A history dating back to 1700

The other provides:

• 2 bedrooms
• 125 square metres
• ... Umm, and integrated "high end appliances"

So, what's the all important difference that awards those 88 acres? 
In the words of Kirsty Allsop, "Location! Location! Location!" 
The latter apartment is located in Knightsbridge, London whilst the other stately home is in Shrewsbury, Shropshire (near the welsh border).

But how do you put a true price on a property, we hear you ask? 
There is obviously overwhelming support of the fact that our Capital city justly demands a great price hike versus other areas of the UK (or even, the world...) but exactly what factors determine the sales value? 
Dawson Surveyors stresses the importance for any homeowner to know this simple fact. After all, get it wrong at purchase and there is immediate danger of negative equity. Get it wrong when attempting to sell and there may be a total lack of interest from the market.

A property must be valued by a professional (contact Dawson Surveyors for more information). The pricing formula in its most basic sense considers:

• Property age
• Number of rooms
• Features and fittings
• The current condition of the property
• Location and surrounding amenities
• Associated costs and liabilities

Property valuers also assess the interest in a property at a given time. This interest could be in connection with a sale, letting, leasing, investments, etc. And these variable factors are what make pricing a property more complicated than it may at first appear. Always ensure that your professional is knowledgeable and experienced.

Also bear in mind that a valuation survey is the most basic form of survey. For a more comprehensive survey you may wish to consider a Home Buyers survey or a Building Survey. If you are unsure and have questions of any type, do not hesitate to contact Dawson & Associates. 

http://www.dawsonsurveyors.com/valuations.html

Premium Property Costs in South Kensington

South Kensington is well known as being one of the most exclusive addresses in the world. Affluent professionals and A Listers aspire to call it home. A 3 bedroom penthouse previously owned by Kylie Minogue was previously on the market for £6.5million. Foxtons state that the average price of a South Kensington 2 bedroom flat is £1,546,735 whilst a 4 bedroom house would set you back around £3,012,500. This compares to £250,000 for the UK property average.

However, Dawson & Associates has seen time after time that even if you are interested in paying these premiums, locating a property in this densely populated area is easier said than done.  Perhaps that is why an apparently “uninhabitable” South Kensington flat recently sold for more than £600,000. The telegraph reports that this property, with only 30 years left on the lease has been deemed worthy of such a high asking price by an anonymous buyer (despite the fact that it may shake when the underground passes by).

James Wardle, director of the selling real estate agency, Hamptons International, said: "Stanhope Gardens is one of South Kensington's most sought-after garden squares, with apartments selling for well over the £1 million mark.” Due to the extreme high demand for properties in this area, it seems that there is still potential to make a profit on the purchase.

But any potential property investors should beware. These development projects often prove risky and a successful outcome solely depends upon finding the right property in the first instance. Even in areas such as South Kensington, good profits cannot be obtained if the property itself is not structurally sound. With over 40 years of experience, Dawson Surveyors can evaluate any residential or commercial real estate and provide a true current and future value. Do not risk making an investment without professional, specialized advice from a chartered surveyor.

Afree instant property survey quote can be received here.