To a lot of people, the difference between a surveyor and a valuer may be straightforward, but if you are a first-time buyer who has just gone sale agreed, you may have never had to hire either before! So, what is the difference and what does each one do?
What is a Surveyor?
A "surveyor" is the person you will hire to conduct a pre-purchase survey. This will give you a professional opinion on the overall condition of the property form the structure to smaller issues.
This survey is sometimes called a property survey, building survey, structural survey, engineers report, house survey etc.
The Surveyor could come from several fields and may be referred to as an Engineer (if registered with IEI) a Building Surveyor (if registered with SCSI) or a Property Surveyor. But the survey they conduct should all be up to the same standard.
Full Post --> What does a house survey include?
The Survey in this case is for your use - to give you as much information as possible about the condition of the property so you can make an informed decision on whether or not to proceed with the purchase of the property and sign contracts.
What is a Valuer?
A Valuer is a person you hire to give their opinion on the valuation of the property. This "Valuation" is required by the banks so they can ensure that the property you are purchasing meets the value of the mortgage they are giving you.
Most Estate Agents are qualified to value properties, however many other professions can also be qualified.
When you are in the process of buying a house with a mortgage, the bank will have a list of preferred valuers. It can sometimes be faster and more convenient to go with these, however, the choice of which valuer you get is yours. Once they are qualified to conduct valuations, the report will be accepted by the bank.
The Confusing Bit!
In Ireland most estate agents are qualified to conduct valuations, but many SCSI members also offer valuations as a service. This means, sometimes a surveyor can also be a valuer. However, a valuation is a separate service from a survey.
Full Post --> Will the surveyor give a valuation of the property?
The GetHouseSurvey.ie Service
At GetHouseSurvey.ie we provide pre-purchase surveys which are conducted to the SCSI Type 2 standard. This covers the needs of over 95% of purchases of second hand properties and meet the requires for banks and lenders when they request a survey.
