The Homebuyer Survey and Valuation

A standard report form of survey produced by the Royal Institute of Chartered Surveyors (RICS) which is designed to outline significant and urgent matters.

The Homebuyer Survey is in a standard format and is designed specifically as an economy service. It therefore differs materially from a building survey in two major respects:

• It is intended only for particular types of home: houses, flats and bungalows which are conventional in type and construction and apparently in reasonable condition
• It focuses on essentials: defects and problems which are urgent or significant and thus have an effect on the value of the property – although it also includes other valuable information.

The homebuyer service provides not only a survey but also a valuation as an integral part of the service.

• This is an economy package. Because of the practical limits on the type of property and on the scope of its coverage, the homebuyer service is priced mid-range – more expensive than a mortgage valuation, but less than a building survey.
• The surveyor’s main objective in providing the service is to assist the prospective homebuyer to:

– Make a reasoned and informed judgment on whether or not to proceed with the purchase
– Assess whether or not the property is a reasonable purchase at the agreed price
– Be clear what decisions and actions should be taken before contracts are exchanged.

The surveyor also gives his professional opinion on the particular features of the property which affect its present value and may affect its future resale.
It focuses on essentials: defects and problems which are urgent or significant and therefore have an effect on the value of the property – although it also includes other valuable information. It is intended only for particular types of home: houses, flats and bungalows which are conventionally built and, apparently, in reasonable condition.

Matters which are judged not to be urgent or not significant are in general not included in the report, but the surveyor will mention matters judged to be both helpful and instructive.

Building Survey (formerly known as Structural Survey)

Suitable for all types of property, both residential and commercial. It is especially recommended for period properties or properties of unusual construction, if dilapidated or has been extensively altered – or where a major conversion or renovation is planned.

It is more comprehensive than the Homebuyer Survey and will include extensive technical information on the construction of the property as well as any defects, major or minor. The Building Survey can also be tailored to your individual requirement.

The report will include colour photographs of the building generally and shots of areas of damage or concern making it easier for you to relate to the text of the report.

Other services

Where services are required that are not included within the Homebuyers or Building Survey, we are able to provide these services or arrange for a specialist contractor.

Examples may include:

– Preparation of schedule of works / condition
– Inspection by a structural engineer
– Testing of services