Basically, a chartered surveyor is a building surveyor who inspects a property for faults or defects as well as future issues or problems. They’re also able to work out the value of a property and also prepare a report in order to help you determine whether or not the property is a good investment or if there are any issues that may create problems later in the future such as damp, structural issues and the likes. In order to become chartered surveyor, a surveyor will need to undergo additional qualifications and possess a specific level of experience which is RICS (Royal Institution of Chartered Surveyors) approved. It’s possible that some surveyors may not have pass through these additional levels to become chartered, however it’ll still be regulated by RICS and be fully qualified. These can be termed as Assoc RICS, associates or building surveyors. While you don’t necessarily have to use a chartered surveyor for your survey, it’s highly advisable to use RICS approved experts.
Just like any other building surveyor, chartered surveyors work by visiting the property, assessing various areas while also determining any defects on site. Once done, they’ll then state all findings in a report for you to help you make the best possible informed decision, whether or not you’ll want to go ahead with the purchase or re-negotiate the terms of the purchase based on the findings in the report.
You’ll need to hire the services of a chartered surveyor after you’ve made an initial offer on the property and it has been accepted. Most offers are made “subject to survey”, in order words, the seller is well aware that if the survey reveals something unexpected, you can decide to back of the agreement or request a reduction in price.