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What does a bank reconciliation entail?

A bank reconciliation is a routine check that should be carried out on any bank account to ensure that the cheques written leave and clear the account and that cash paid in is received by the bank. Monies that have not been received (i.e. perhaps lost in the banking ...

What was the limitation period of the Defective Premises Act 1972 before the Building Safety Act 2022?

Prior to the Building Safety Act 2022, the Defective Premises Act 1972 required claims to be brought within 6 years.  The Building Safety Act which received Royal Assent on the 28th April 2022 has now completed all the parliamentary stages in both Houses to...

Can you stop time on a building developer defect claim?

In short yes.  Where the Buildng Safety Act extended 15 or 30 year limitation periods (effectively inserted into the Defective Premises Act 1972 and the Section 38 Building Act 1984) are near their end, residents, building owners and the...

Under what law can breach of building regulations claims be brought?

Section 38 Building Act 1984:  Believe it or not since 1984 Section 38 of The Building Safety Act has never come into force! The Building Safety Act 2022 will bring Section 38 into force and provide for claims for up to 15 years after works have b...

What defence can a developer offer in respect of new developer claims now limitation periods have been extended?

Generally there are TWO potential defences a defendant may be able to raise in respect of the new limitation periods:if the claim has already been settled or determined; orthe extended limitation period breaches the defendant’s rights under the Human Rights Act ...

Is the limitation period under the Building Safety Act 15 or 30 years?

The answer is BOTH.  Specifically the Act extents the limitation period to 15 years prospectively for claims under s1 and s2A (claims that accrue after the Act takes effect); and to 30 years retrospectively for claims under s1 (claims th...

What are the legal tests under the Defective Premises Act?

To succeed in such a claim, a claimant must show in particular that the defects being complained of render the dwelling or building ‘unfit for habitation’.This ‘unfit for habitation’ test is a relatively high hurdle to surmount and the test has not to date ...

Is a Defective Premises Act claim better than a breach of contract claim?

Unlike, breach of contract claims (where claims are limited to original 1st buyers who bought directly from the developer only), one of the advantages of claims under the Is a Defective Premises Act 1972 is that the claimants (be they leaseholders or freeholders) do ...

Who claims under the Defective Premises Act?

The Defective Premises Act 1972 only covers “dwellings” which for residential blocks means that the apartments themselves are covered, but the common parts are not.  The Building Safety Bill will, however, introduce a new provision into the Defective Premises Ac...

What does the Defective Premises Act offer leaseholders?

The Defective Premises Act 1972Under the Defective Premises Act 1972 a person taking on work for, or in connection with, the provision of a dwelling owes a duty to ‘every person who acquires an interest in that dwelling’ to see that work is done:In a workmanlike...

Is the Building Safety Bill Law?

The Building Safety Act which received Royal Assent on the 28th April 2022 has now completed all the parliamentary stages in both Houses to become an Act of Parliament which means it is a certainty that both the DPA and separately section 28 of the Building Act 1984 ...

What are the Building Safety Act limitation periods

Specifically the Act extents the limitation period to 15 years prospectively for claims under s1 and s2A (claims that accrue after the Act takes effect); and to 30 years retrospectively for claims under s1 (claims that accrued before the Act takes...

When does the Building Safety Bill come into force

How long does a homebuyer survey take?

The inspection, which will be carried out by a Chartered Surveyor lasts between 2-4 hours. Whilst on site the Chartered Surveyor will inspect all structural elements of the building from the roof to the drains.* Whilst the Surveyor will not be able to open up conceal...

s it worth getting a homebuyers survey?

What is rather nice about a Homebuyer Survey is that the written report highlights matters that need attention by putting them as ACTION bullet points, with advice on what and who should be able to help. The Homebuyer Surveyor’s brief is to make an assessment of any ...

What is included in a homebuyers survey?

The inspection for a Homebuyer Survey includes an investigation of damp issues, rising damp, penetrating damp and condensation as well as timber defects such as over-stressed timbers and beetle infestation. A Homebuyer Survey does include a visual inspection of the s...

What is a schedule of condition?

A schedule of condition is usually prepared by the tenant about the time the lease is entered into and should be ‘agreed’ between the parties and documented in the lease. The purpose of a schedule of condition is to make it easy to deal with end of lease dilapidation...

What exactly is a party wall?

t forms part of a building and stands astride the boundary of land belonging to two (or more) different owners orIt separates buildings and it either stands astride the boundary of land belonging to two (or more) different owners. 

How long does a full survey take?

Typically, a building survey inspection will take a Chartered Building Surveyor 3-6 hours on site for a typical 3 bed house, and for larger properties the inspection may be carried out over a couple of days. 

What do they look for in a building survey?

"With a building survey the customer gets the opportunity to increase the scope, for example: to report on loading and rearrangement of the property for conversion or extension. In general, the report includes details on:Major and minor defects and their meaning,Damp...

What is the role of a contract administrator?

Contract Administration is the term used to cover the work involved when a Chartered Surveyor or Chartered Engineer plans, specifies, tenders and then administers the contract for a large building works project. 

What does a Chartered Surveyor do?

Building surveying excellence requires understanding the age of a property, intricate knowledge of how it was built and to trace typical defects likely to arise from the era it was built. We call this following the trail of suspicion and is what our experienced team ...

What is asbestos surveying?

Asbestos Type 2 survey includes taking samples – The presence of asbestos can be confirmed or ruled out after samples undergo lab analysis. This type of survey will also identify the type of asbestos present and the level of risk involved.

Does asbestos affect property value?

An Asbestos survey assesses a building to find asbestos containing materials and to assess the risk to persons living or working in the building. The Surveyor will consider the risks in view of the building’s construction or build type, building age as well as modifi...

How do you conduct an asset valuation?

The company needs to look at its balance sheet and identify tangible and intangible assets.From the total assets, deduct the total value of the intangible assets.From what is left, deduct the total value of the liabilities.

Is freehold property good to buy?

Leasehold enfranchisement……When undertaking a valuation for negotiation the Chartered Valuation Surveyor has to interpret the right evidence for the right situation to bring maximum benefit to the Client. 

How do you value land for residential development?

"Residual Method, is used to establish a range of values for Land & Development Valuations and the depreciated replacement cost method can be used for specialist properties where there is a very limited market, such as schools.Market value is a concept distinct f...

How do you value land for residential development?

The idea is that you establish what the proposed finished house is likely to be worth. Then identify and deduct all the costs involved in designing and building the house. The remaining amount will be the desired development profit or equity, and the sum you need to ...

How do you value a property developer?

Gross development value less costs, known as the Residual Method, is used to establish a range of values for Land & Development Valuations and the depreciated replacement cost method can be used for specialist properties where there is a very limited market, such...

What is the Red Book RICS?

RICS – The Royal Institution of Chartered Surveyors (RICS) represents the property profession in 146 countries, and regulates its ‘Chartered’ members. All valuations are subject to the RICS International Valuation Standards otherwise known as the ‘Red Book’. 