Homebuyers Survey & Valuation
This survey is produced in a standard format provided by the RICS and is designed as a value for money package for the potential purchaser. It is intended for houses, flats and bungalows of conventional construction, generally in reasonable condition and built after 1900.The survey will look at both the exterior and interior of the property.
The areas it will address include the following:
Roof, chimney, gutters, downpipes, main walls, windows, doors, loft, ceilings, floors, walls Roof space/loft, ceilings, internal walls, floors, fireplaces, chimney breasts, internal decorations, Services - electrical installation, gas installation, water, central heating and the drains
Externally, gardens, boundaries and garages, safety, location and environment.
There is a section within the report which deals with issues your legal advisers should be aware of.
The market value of the property is confirmed and a reinstatement value is provided which is the figure for which you should insure the property.
In summary, the report will include details of defects which are significant and urgent, advice and other considerations such as safety, the location and the environment which may affect your decision to purchase.
This is a survey for all types of residential property, but is often recommended particularly where a property was constructed before 1920 or where a property has been substantially altered or converted from buildings that originally had another use.
A Building Survey is a more detailed report following a more stringent inspection and may be tailored to the client's individual requirements. In many respects it follows a similar format to the Homebuyers Survey in that it will deal with all the major elements of the property, but it will also explain the construction in more detail and where we suggest repairs or find defects advice will be given on the way to adequately repair them.
Typically a Building Survey will not refer to the Open Market Value of the property or the reinstatement value but both of these can be provided upon request.