Terms of Engagement - Private Report You must read and agree to the following terms of engagement before proceeding We note these standard Terms of Engagement form part of the contract between the surveyor and the clients for properties in Scotland. A different form of Survey and Valuation Service applies in other parts of the United Kingdom. This letter provides the Terms and Conditions under which our inspection and report will be prepared. Please note that this style of Report is different from and should not, therefore, be confused with the Royal Institution of Chartered Surveyors (RICS) Homebuyers Survey and Valuation Report format. 1) Our Private Report comprises:- An inspection of the property. A report based on the inspection. Market Valuation.. Valuation for fire insurance purposes. 2) The purpose of the Private Report is to provide advice on the condition and value of the property. 3) The property is defined by the address quoted above and the description given within the report which we will issue to you shortly. 4) The property will be valued for residential purposes only. Any non-residential use will be ignored for valuation purposes. 5) The report will be prepared by a Chartered Surveyor who will act as an external valuer. The report will be prepared in accordance with the RICS Appraisal and Valuation Manual (5th Edition) It should be noted that Barr Brady have no vested interest in the outcome of the transaction. 6) Our fees will be calculated in accordance with our current Private Report scale of fees. We understand and will exercise our statutory right to claim interest and compensation for debt recovery costs under the late payment legislation if we are not paid according to our agreed credit terms. Our typical fee scale for a Private Report is as follow:: Not Exceeding £50,000 £265.00 inc VAT £50,001 - £75,000 £310.00 inc VAT £75,001 - £100,000 £335.00 inc VAT £100,001 - £125,000 £350.00 inc VAT £125,001 - £150,000 £400.00 inc VAT £150,001 - £175,000 £450.00 inc VAT £175,001 - £200,000 £485.00 inc VAT £200,001 - £250,000 £515.00 inc VAT £250,001 - £300,000 £550.00 inc VAT £300,001 - £350,000 £600.00 inc VAT £350,001 - £400,000 £650.00 inc VAT £400,001 - £500,000 £725.00 inc VAT £500,001 - £625,000 £810.00 inc VAT £625,001 - £750,000 £925.00 inc VAT Over £750,001 will be negotiated with a Director Our fees will be calculated on the valuation figure and not on the asking price. 7)The report will be prepared subject to the following limitations: The inspection will be a general surface examination of those parts of the property which are accessible. It is NOT a structural survey. The surveyor will not raise floor coverings and will not move wall finishes, furniture or other belongings. For Health and Safety reasons accessible sub-floor areas will only be inspected where there is a minimum clearance of 1 metre between the solum and the underside of the floor joists The surveyor will not report on those areas of the property that are covered, unexposed or otherwise inaccessible. Where practical ladders of up to 3 metres high will be used to aid the inspection of areas not otherwise visible. When safe to do so roof voids will be inspected but stored goods will not be moved. As recommended by RICS Guidelines and given current medical concerns, no attempt will be made to move insulation laid between or over ceiling joists. The efficiency, compliance with regulations and adequacy of design of the services can only be accurately assessed by tests conducted by suitably qualified specialists. Services including heating, plumbing and electrical systems will be inspected visually as far as possible without removal of access covers or inspection hatches and without operating the services installations. Service tests will not be undertaken. Inspection covers for foul and storm drainage will not be raised and drainage systems will not be tested. 8) Defects and other matters that are not considered significant and which would have no affect on value will not be reported. Accordingly where defects are mentioned they should not be regarded as an exhaustive list of all items of disrepair 9) If you decide to proceed with the purchase of the property there may be recommendations within the report on which you should take action such as obtaining competitive quotations for specified repairs. These should be obtained prior to a commitment to purchase, and should be obtained from contractors who are members of a recognised trade organisation. 10) Leisure facilities, outbuildings, non-permanent outbuildings and the gardens are noted in the report but are not examined in detail. Significant defects to boundary walling, retaining walls and driveways will be reported where visible to the surveyor. 11) The surveyor will be entitled to rely upon information provided by external sources and to assume that all alterations to the property have been properly regulated and comply with all relevant Planning and Building Regulations, or that they can be properly regulated at minimal cost and that, where necessary, superiors approval has been obtained. Your lawyer should be asked to advise on any adverse comments arising from local searches or other planning enquiries. 12) In providing the report the following assumptions will be made by the surveyor:- 13) The surveyor will provide an opinion of the Market Value in accordance Valuation Manual (Fifth Edition). The definition of Market Value is defined therein as:- "the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm's-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion". The date of valuation will be the date of inspection stated within the Report. 14) The report will be for the use only of the party to whom it is addressed and their named client. No responsibility will be accepted to any third party (whether notified to us or not) for the whole or any part of its content. Neither the whole nor any part of the report or any reference thereto may be included in any document, circular or statement without prior written approval of the form and context in which it will appear. 15) If there is any doubt as to the scope and extent of the inspection we should be contacted prior to submitting any offer to purchase. As part of our remit, however, we shall be pleased to comment on plans relating to alterations and any guarantee documentation relating to past works carried out within the property. 16)This Company offers a complaint handling procedure in accordance with By Law 17 Regulation 2.7 of the RICS Rules of Conduct and Disciplinary Procedures, a copy of which is available on request. 17) If after reading and considering our report you are minded to proceed with the purchase you are advised to send a copy, as soon as possible, to your lawyers. Whenever possible we try to obtain formal confirmation that these Terms & Conditions are acceptable before proceeding with the inspection. However to reflect the Scottish house buying process and the speed with which inspections require to be carried out we will assume acceptance of these Terms & Conditions unless advised to the contrary in writing.