Residential Property Surveys
RICS members can offer two types of independent survey which are specifically designed to advise the homebuyer:
A Building Survey
A building survey report (often referred to as a structural survey), is the most detailed report on the condition of the property that you can buy. This type of report is tailored to the client's needs and is often requested when a property is unusually built or run-down, has been extensively altered or extended or if a major renovation or conversion is planned. It is also suitable for historic buildings or property with an unusual construction.
The report will include advice on:
- Structural movement, historic or ongoing
- Dampness
- Timber decay and insect infestation
- Previous structural alterations
- Planned improvements
- Any problems that are likely to have a significant repair cost
Photographs of the main defects will be provided and the surveyor will call the client the day of the survey to provide a verbal summary of all the main issues so there is no delay in the home buying process.
A Homebuyer Report
A Homebuyer Report is likely to be the right choice if you are purchasing a more modern property of traditional construction and one that is apparently in reasonable condition. It is a cheaper alternative to a building survey but still reports on the significant defects in a property. Defects and items of possible future expenditure will be highlighted and the need for further investigation or action brought to the purchaser's attention. A valuation and insurance reinstatement figure is also an integral part of the report.
The report will include advice on:
- The condition of each element of the property including a condition rating
- Particular points you should refer to your legal advisers
- Specific risks associated with the property
- Any other relevant considerations such as location and local environment
The inspection is the same as for a building survey but the report is in a shorter but clearly laid out standard format designed by the Royal Institution of Chartered Surveyors.