Vendor survey - Revision history

Designing Buildings at 08:03, 16 November 2020

2020-11-16T08:03:34Z

← Older revision		Revision as of 08:03, 16 November 2020
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	* [http://www.ipf.org.uk/ Investment Property Forum]		* [http://www.ipf.org.uk/ Investment Property Forum]

−	[[Category:Property_law]] [[Category:Client_procedures]] [[Category:Cost_/_business_planning]] [[Category:Property_development]] [[Category:Roles_/_services]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Property_law]] [[Category:Client_procedures]] [[Category:Cost_/_business_planning]] [[Category:Property_development]] [[Category:Roles_/_services]]

Editor at 18:12, 6 March 2018

2018-03-06T18:12:35Z

← Older revision		Revision as of 18:12, 6 March 2018
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	* Surveyor.		* Surveyor.
	* Technical due diligence for development sites.		* Technical due diligence for development sites.
		+	* What is a valuer?

	=== External references ===		=== External references ===

Editor at 22:19, 4 September 2017

2017-09-04T22:19:26Z

← Older revision		Revision as of 22:19, 4 September 2017
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	* Home report.		* Home report.
	* Homebuyer Report.		* Homebuyer Report.
		+	* Property valuation.
	* Site appraisals.		* Site appraisals.
	* Site surveys.		* Site surveys.

Editor at 12:01, 25 August 2016

2016-08-25T12:01:17Z

← Older revision		Revision as of 12:01, 25 August 2016
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	* Building pathology.		* Building pathology.
	* Building survey.		* Building survey.
		+	* Building use studies (BUS).
	* Caveat emptor.		* Caveat emptor.
	* Defective premises - liability and measure of damages.		* Defective premises - liability and measure of damages.

Editor at 15:27, 11 July 2016

2016-07-11T15:27:37Z

← Older revision		Revision as of 15:27, 11 July 2016
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	Traditionally, a Technical Due Diligence (TDD) report would be commissioned, usually by the preferred bidder, during the final stages of a purchase deal. Such reports would often highlight issues relating to the structure, fabric and the mechanical and electrical aspects that would then impact on the price, which would usually have to be lowered in order to prevent the sale from being delayed.		Traditionally, a Technical Due Diligence (TDD) report would be commissioned, usually by the preferred bidder, during the final stages of a purchase deal. Such reports would often highlight issues relating to the structure, fabric and the mechanical and electrical aspects that would then impact on the price, which would usually have to be lowered in order to prevent the sale from being delayed.

−	The Investment Property Forum states that ~~‘the~~ most effective way of streamlining real estate transactions is for the intending seller and its advisors to have familiarised themselves thoroughly with the property and its title before putting it on the ~~market’~~.	+	The Investment Property Forum states that 'the most effective way of streamlining real estate transactions is for the intending seller and its advisors to have familiarised themselves thoroughly with the property and its title before putting it on the market'.

	Vendor surveys have become increasingly common as they can help to speed up the sale process. In particular, when the property sector was hit hard by the economic downturn of 2008 many companies trying to sell assets began to commission surveys to speed up the sale and as a means of getting an edge over competitors.		Vendor surveys have become increasingly common as they can help to speed up the sale process. In particular, when the property sector was hit hard by the economic downturn of 2008 many companies trying to sell assets began to commission surveys to speed up the sale and as a means of getting an edge over competitors.
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	* An assessment of environmental and energy performance matters.		* An assessment of environmental and energy performance matters.

−	While vendor surveys aim to facilitate the negotiation and transaction process, they have come under criticism from some property companies, funds and owner/occupiers. There has sometimes been a perception or experience of poor quality or biased reporting which, regardless of how professional the survey undertaken may be, is understandable since the ~~vendor’s~~ overall aim is to achieve a sale of the property. As a result, vendor surveys conducted by independent surveyors as opposed to ~~‘in~~-~~house’~~ surveyors have become increasingly popular as they are seen to be a neutral party to the transaction.	+	While vendor surveys aim to facilitate the negotiation and transaction process, they have come under criticism from some property companies, funds and owner/occupiers. There has sometimes been a perception or experience of poor quality or biased reporting which, regardless of how professional the survey undertaken may be, is understandable since the vendor's overall aim is to achieve a sale of the property. As a result, vendor surveys conducted by independent surveyors as opposed to 'in-house' surveyors have become increasingly popular as they are seen to be a neutral party to the transaction.

	Some of the advantages of conducting a vendor survey include:		Some of the advantages of conducting a vendor survey include:
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	* 3D laser survey.		* 3D laser survey.
		+	* Building pathology.
	* Building survey.		* Building survey.
	* Caveat emptor.		* Caveat emptor.

Designing Buildings at 12:25, 27 June 2016

2016-06-27T12:25:51Z

← Older revision		Revision as of 12:25, 27 June 2016
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	* Home information pack HIP.		* Home information pack HIP.
	* Home report.		* Home report.
		+	* Homebuyer Report.
	* Site appraisals.		* Site appraisals.
	* Site surveys.		* Site surveys.

Designing Buildings at 10:34, 27 June 2016

2016-06-27T10:34:33Z

← Older revision		Revision as of 10:34, 27 June 2016
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	* Energy audit.		* Energy audit.
	* Ground investigation.		* Ground investigation.
		+	* Home information pack HIP.
	* Home report.		* Home report.
	* Site appraisals.		* Site appraisals.

Designing Buildings at 09:42, 27 June 2016

2016-06-27T09:42:36Z

← Older revision		Revision as of 09:42, 27 June 2016
Line 35:		Line 35:
	* Energy audit.		* Energy audit.
	* Ground investigation.		* Ground investigation.
		+	* Home report.
	* Site appraisals.		* Site appraisals.
	* Site surveys.		* Site surveys.

Editor at 15:03, 12 May 2016

2016-05-12T15:03:06Z

← Older revision		Revision as of 15:03, 12 May 2016
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	* Building survey.		* Building survey.
	* Caveat emptor.		* Caveat emptor.
−	* Condition survey.
	* Defective premises - liability and measure of damages.		* Defective premises - liability and measure of damages.
	* Development appraisal.		* Development appraisal.

Editor: Created page with "Vendor surveys are often undertaken by commercial property owners prior to selling a building. They are objective surveys of properties intended to satisfy the due-diligence requ..."

2016-05-12T14:56:46Z

Created page with "Vendor surveys are often undertaken by commercial property owners prior to selling a building. They are objective surveys of properties intended to satisfy the due-diligence requ..."

New page

Vendor surveys are often undertaken by commercial property owners prior to selling a building. They are objective surveys of properties intended to satisfy the due-diligence requirement of potential purchasers, avoiding the need for them to conduct their own surveys.

Traditionally, a Technical Due Diligence (TDD) report would be commissioned, usually by the preferred bidder, during the final stages of a purchase deal. Such reports would often highlight issues relating to the structure, fabric and the mechanical and electrical aspects that would then impact on the price, which would usually have to be lowered in order to prevent the sale from being delayed.

The Investment Property Forum states that ‘the most effective way of streamlining real estate transactions is for the intending seller and its advisors to have familiarised themselves thoroughly with the property and its title before putting it on the market’.

Vendor surveys have become increasingly common as they can help to speed up the sale process. In particular, when the property sector was hit hard by the economic downturn of 2008 many companies trying to sell assets began to commission surveys to speed up the sale and as a means of getting an edge over competitors.

Vendor surveys can include:

* A review of relevant technical and legal documentation.
* A full internal and external survey.
* A survey of, and advice on, building services systems.
* An assessment of deleterious materials.
* An assessment of environmental and energy performance matters.

While vendor surveys aim to facilitate the negotiation and transaction process, they have come under criticism from some property companies, funds and owner/occupiers. There has sometimes been a perception or experience of poor quality or biased reporting which, regardless of how professional the survey undertaken may be, is understandable since the vendor’s overall aim is to achieve a sale of the property. As a result, vendor surveys conducted by independent surveyors as opposed to ‘in-house’ surveyors have become increasingly popular as they are seen to be a neutral party to the transaction.

Some of the advantages of conducting a vendor survey include:

* By highlighting issues at an early stage, the vendor has more time to take remedial steps which could save money.
* Both parties to the negotiation are better informed at an earlier stage, helping to establish trust and better decision-making.
* The need for separate inspections by multiple prospective purchasers can be avoided.
* The need for the vendor to conduct their own survey to confirm the findings of a prospective purchaser can be avoided.

= Find out more =

=== Related articles on Designing Buildings Wiki ===

* 3D laser survey.
* Building survey.
* Caveat emptor.
* Condition survey.
* Defective premises - liability and measure of damages.
* Development appraisal.
* Energy audit.
* Ground investigation.
* Site appraisals.
* Site surveys.
* Soil survey.
* Surveyor.
* Technical due diligence for development sites.

=== External references ===

* Property News - [http://www.propnews.co.uk/issues/2014/07/articles/168/vendor-surveys-/ Vendor surveys]
* [http://www.ipf.org.uk/ Investment Property Forum]

[[Category:Property_law]] [[Category:Client_procedures]] [[Category:Cost_/_business_planning]] [[Category:Property_development]] [[Category:Roles_/_services]]