Yes! A valuation and a survey are 2 very different services with different purposes and conducted by people with different skillsets.
What is a Valuation?
A valuation is conducted by an IPAV registered valuer and will give a valuation of the property based on the fair market value.
It's main focus is the size and location of the property along with any upgrades or improvements which have been made to the property.
A valuation does not focus on the structural condition of the property or smaller conditional issues.
A valuation is for the bank's benefit, not yours. The bank use it as a method to make sure the property is worth the money they are lending you for it.
What is a Survey?
A survey (structural survey, building survey, etc.) is an inspection of the condition of the property. It will focus on everything from structural condition down to smaller issues caused by poor maintenance and wear and tear.
It should be conducted by an experienced and insured Building Surveyor, Engineer, Architect or Architectural Technologist with experience in residential surveys. The surveyor or their company should also carry PI Insurance.
A survey is for YOUR benefit. It is there to make sure you are fully informed of the condition of the property before you sign contracts and commit to the sale.
If there are no major issues identified, then you'l be able to sign those contracts with confidence. But if any issues are identified that are too serious or costly for you to take on, then you'll be able to pull out of the purchase.
Can a company provide both services?
Yes, a building surveyor can also be trained in and qualified as a valuer. If this is the case, the same person can produce both reports. But they should be separate documents.
If you do use that option, ensure that the company does not have a financial connection or arrangement with the bank. This way, you can ensure the person is independent from the bank and working entirely for your benefit.
So, if you are buying a second hand property, you will need both a valuation AND a pre purchase survey.
To book your survey now, just go to GetHouseSurvey.ie and click on "Get Survey Now"