Residential Property Appraisal

This is a classic practitioner handbook for surveyors involved in the appraisal of residential property for lending purposes. Thus, it will focus on the distinct professional roles required by Mortgage Valuations (MVs) amd Home Buyers Surveys and Valuations (HBSVs), identifying and advertising the reader on the extent and limitations of their activities. Well illustrated (see Parnham's excellent artwork in Prevention of Premature Staining of New Buildings, Spon 1996), supported by real life case studies and drawings on the latest research, professional and legal developments, this book will be the most up-to-date in its field. *fully illustrated with sketches, diagrams and photographs, plus key photos in colour *presenting the latest research professional and legal developments *including real life case studies drawn from successful CPD courses.

Chris Rispin is currently Technical Director with Allied Surveyors PLC.

Acknowledgments

ix

PART I The appraisal process

1

(36)

Introduction

3

(4)

Context

3

(1)

Objectives of the book

4

(1)

Definitions

5

(1)

Who this book is for

5

(1)

The philosophy of the book

6

(1)

Technical content - a cautionary note

6

(1)

Contents of the book

6

(1)

The appraisal process

7

(30)

Introduction

7

(1)

The appraisal process

8

(3)

The valuation process

11

(7)

Methods of valuation

18

(11)

Effect of condition on value

29

(7)

Valuting in the UK

36

(1)

PART II The survey and identifying the problem

37

(292)

Carrying out the survey

39

(20)

Introduction

39

(1)

Preparatory work

39

(3)

Relationship with the vendor

42

(1)

Carrying out the survey

43

(2)

Health and safety

45

(8)

Taking site notes

53

(1)

Time taken to do the survey

54

(1)

Referring to specialists

55

(4)

Building movement

59

(42)

Introduction

59

(1)

Incidence of movement

59

(1)

Assessing the cause of damage

60

(11)

Calling in the specialists

71

(1)

Reporting on building damage

71

(2)

Trees and buildings

73

(7)

Other forms of building movement

80

(21)

Dampness

101

(32)

Introduction

101

(1)

Measuring dampness - different methods

102

(5)

Penetrating dampness

107

(5)

Rising dampness

112

(6)

Condensation - surface and interstitial

118

(8)

Built-in moisture

126

(1)

Traumatic dampness

126

(1)

Thermal insulation and energy conservation

127

(6)

Wood rot, wood-boring insects, pests and troublesome plants

133

(18)

Introduction

133

(1)

Wood rot

133

(6)

Insect attack

139

(4)

Other pests

143

(5)

Troublesome plants

148

(3)

Roofs

151

(34)

Introduction

151

(1)

Extent of inspections

151

(2)

Different types of pitched roof structure

153

(1)

Defects aasociated with pitched roof structures

154

(10)

Pitched roof coverings and their defects

164

(6)

Other features associated with pitched roofs

170

(7)

Flat roofs

177

(8)

External joinery and decorations

185

(13)

Introduction

185

(1)

Windows and doors

185

(9)

Other joinery items

194

(1)

External decorations

195

(3)

Internal matters

198

(31)

Introduction

198

(1)

Walls and partitions

198

(3)

Fire places and chimney breasts

201

(6)

Floors

207

(13)

Internal joinery

220

(3)

Internal decorations

223

(2)

Basements, cellars and vaults

225

(4)

Building services

229

(54)

Introduction

229

(3)

Cold water supply systems

232

(8)

Hot water supply systems

240

(3)

Sanitary fittings

243

(1)

Heating systems - general guidance

244

(1)

Flues

245

(4)

Combustion ventilation

249

(2)

Location of gas boilers

251

(1)

Gas heating systems

252

(5)

Oil-fired central heating

257

(1)

Coal-fired central heating and room heaters

257

(2)

Electric heating

259

(1)

Electrical systems

259

(4)

Gas service

263

(2)

Below-ground drainage

265

(8)

Other methods of sewerage and surface water disposal

273

(3)

Above-ground drainage systems

276

(7)

External and environmental issues

283

(16)

Introduction

283

(1)

The site

283

(8)

Contaminated land

291

(2)

Radon

293

(1)

Deleterious materials

294

(5)

Non-traditional housing

299

(14)

Introduction

299

(1)

Non-traditional housing and the market

300

(4)

Inspecting and advising on non-traditional properties

304

(4)

Timber-framed dwellings

308

(5)

Other issues

313

(16)

Introduction

313

(1)

Building regulations

313

(6)

Planning permission

319

(1)

Listed buildings

319

(5)

Surveying new properties

324

(5)

PART III The report and future opportunities

329

(26)

Writing the report

331

(11)

Introduction

331

(1)

The mortgage valuation

332

(3)

The Homebuyers survey

335

(5)

Building surveys

340

(1)

Conclusions

341

(1)

Benchmark for change

342

(13)

Introduction

342

(1)

Business planning

342

(6)

Total quality control (TQC)

348

(4)

The benefits of new technology

352

(3)

Index

355

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Residential Property Appraisal

Summary

Author Biography

Table of Contents

Supplemental Materials

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Residential Property Appraisal

Summary

Author Biography

Table of Contents

Supplemental Materials

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