FAQs

This month, we will be walking you through some of our FAQs to help you better navigate your process. We are covering general FAQS, commercial property FAQs, and survey and valuation FAQs.

General FAQs

What qualifications does our surveyor have?

Our surveyor, Jon, has over 30 years of experience in commercial property in Bristol and the Southwest. Jon is a chartered member of the RICS, a fellow of the AVLP, and a fellow member of the Chartered Institute of Arbitrators, holding an RICS Diploma in Arbitration.

How do you know if you need a surveyor?

• Are you buying or leasing a commercial property?
• Are you working out lease agreements?
• Do you plan on developing your commercial property?
• Are there structural concerns that put your commercial property outside of compliance?
• Do you need to determine your property’s market value?
• Do you need dispute resolution?

If any of these apply to you, get in touch and get some peace of mind!

How do you know if you need a valuation?

• Are you buying or selling a property?
• Are you buying or selling a business?
• Are you working out lease agreements?
• Will your business be merging with or acquiring another?
• Are investors interested in your business?
• Is your business subject to being evaluated for legal settlements, estate planning or tax compliance?
• Do you need to ensure you have adequate coverage from your insurance company?

You will need a valuation if any of these apply to you. Contact us to find out your options.

Where do we operate?

We operate from Bristol, covering the entire Southwest of England. Our team knows this area very well, having over 30 years of experience in commercial property and business valuation here.

What do we do differently?

Operating as an independent family business, we go the extra mile to provide you with the right advice to help you with your decision making. We at JS Reakes are experts in our field, and we work with you, and honestly. We look after our clients every step of the way, with the same people every time.

Surveys and Valuations FAQs

Do we do residential surveys?

Yes, we provide residential surveys as well as commercial property surveys. If you wish to carry out a survey on residential property, please enquire on our Contact Us page

How long does a survey take?

Depending on factors such as the size of the property, condition of the building, and the type of survey being conducted, it can take 3 to 10 days from an initial site visit to receiving the final report. As an independent family business, we are able to cater to your specific needs and provide a faster turnaround subject to availability.

How long does a business valuation take?

The time required for a business valuation depends on the size and complexity of your business, what kind of valuation is carried out, and the availability of your business’ financial data. It may take anywhere from one week to twelve weeks depending on these factors.

How do you ensure RICS compliance in your reports?

As a chartered member of the RICS, we operate within the regulatory functions of the RICS’ Governing Council, and Standards and Regulation Board. This means that all of our work meets the standards of conduct and competence of the RICS, ensuring that you confidently receive a professional service that meets legal regulations.

What information do we need to provide a quote?

We will require a full postal address of the property, whether the valuation is of a freehold or leasehold property, and whether a market rent is required. We will also ask what the valuation is required for and whether it will be relied on by any third party.

How can you book a consultation or survey?

To book a consultation or survey, you can contact us through our website, send us an email at [email protected] or call us here: 01179 200090. You can also find us on the RICS Find a Surveyor website.

What should you prepare before your property inspection?

We will require a signed letter of instruction prior to valuation or inspection. We will issue this once you have confirmed that you want us to proceed. You will also need to provide copies of any occupational leases and passing rents at the property, a date for the inspection and confirmation that our surveyor will have access to all areas of the property during the inspection.

Do we provide ongoing support after the survey is completed?

Yes, we respond to any feedback or queries following the valuation, along with any simple tips for how to proceed with the goals you are trying to achieve. We are available to provide additional ongoing support or negotiations subject to a separate instructions.

Commercial Property FAQs

What are the stages of a typical property transaction?

The stages of a property transaction typically follow this process:

1. Offer made

2. Offer accepted

3. Heads of Terms issued by the surveyor or the vendor

4. Funding put in place (bank valuations instructed)

5. Solicitors instructed on either side

6. Enquiries, searches and due diligence undertaken by solicitors

7. Exchange of contracts

8. Completion

How long does a typical property transaction take?

A typical property transaction takes between one and three months depending on instructions and solicitors involved.

 

If you are looking to start a business, expand your current business, sell your business, need a valuation or some professional advice, get in contact with us by emailing [email protected], call us on 01179 200090 or make an enquiry here. 

Upcoming Workshop

We are hosting an upcoming lease and rent review workshop with our team. If you want to know more about leasing a commercial property then come along on the 12th March! There will be tea and coffee and all attendees will receive an exclusive lease and rent review document.

Click here to secure your tickets!