What does Surveyor mean?

He is a professional member of the RICS –Royal Institution of Chartered Surveyors – and his main tasks are to carry out valuations on properties and certain surveys. A surveyor can as well be a professional member qualified by the Incorporated Society of the Valuers and Auctioneers.

A property valuation is especially important when you are buying property, because your mortgagor will definitely want to see the valuation of the property prior to agreeing to the amount of money. The valuation is his insurance, that in case you default on your payments towards the loan, he can repossess the property, and he gets the assurance that by selling it he can recover his loss.

On the other hand, a structural survey works in your benefit, as you’d like to know that the property you are going to buy is sound. Even if it will cost you extra, you should definitely opt for a structural survey, especially if the building is old.