Property Surveying Explained

Purchasing a property is the most significant financial commitment most people make in their lifetime, yet 80% or so of purchasers do not get an independent structural survey.

Admittedly, a survey may cost several hundred pounds at a time when money is tight, but it will almost certainly draw your attention to defects that you didn't know existed or the seriousness of which you may not have appreciated. These defects may require considerable immediate or future expenditure.

You should be aware that a Survey is not the same as a valuation report which is commissioned by a mortgage lender. This type of report confirms to a lender that the property is suitable security for a mortgage. The report and inspection are brief and provide information required by a mortgage lender, although a copy will often be made available to the purchaser.

What's Available?

In general three types of survey and report are available - a full building survey, a homebuyer survey & valuation report and a specific defect report. Each serves a different purpose and costs vary accordingly.

Full Building Survey
A full building survey (often called a structural survey) is a comprehensive and detailed report on the current condition of the property and will take several hours to prepare. Each visible element of the property is inspected to ascertain its condition and suitability, any necessary repairs will be identified as will anticipated major expenditure - for instance the roof replacement or rewiring.

RICS Homebuyers Report

The RICS Homebuyers report is a pre-printed form prepared by the Royal Institution of Chartered Surveyors, although each element of the property is inspected the level of reporting detail is slightly less and this is reflected in the fees charged. This form of inspection is most suitable for more modern properties.

Defect Report
A defect report concentrates on one particular defect, specified by the client. For instance, there may be evidence of movement. It will report upon the cause of the defect and any remedial works necessary. Who Carries Out The Survey?

Surveys should be undertaken by experienced Chartered Building Surveyors - look for the letters MRICS or FRICS after a persons name to denote this status. How Long Does the Inspection Take?

The length of time the inspection takes is dependent on the size of the property and the extent of any defects that may be identified.

For guidance, an inspection of a typical three bedroom house in reasonable order would take approximately three hours.

How Long Does the Report Take?
We aim to issue our report within four days of inspection.

How Much Does a Survey Cost?
Again this is dependent upon the size and value of the property, it's location and condition. For guidance however an inspection of a three bedroom semi-detached house valued at £150,000 would cost £325 + value added tax @ the chargeable rate.

What's Included?
Whether you choose a Homebuyers Report or Full Building Survey, the surveyor will inspect all visible elements of the building and may, in certain instances, recommend that a specialist in-depth report be commissioned if a particular area is causing concern. The Building Survey is a more detailed and comprehensive inspection and report, whilst the Homebuyer Survey is an economy package and reports only those items which affect the value of the property. Although each survey and Home Buyers report is different, each will provide information on the following elements as a minimum1.

Roofs
Coverings, Structure, Timber Defects & Decay, Insulation, Condition. Rainwater Goods, Chimney stacks, external joinery

Walls
Construction, Condition, Structural Defects, Pointing & Render. Damp Proof Course, internal dampness. Floors

Construction, Condition, Defects

Joinery
Doors & Windows, Staircase, Skirting Boards etc. Kitchen Fittings.

Services
Electrical Installation, Gas, Hot & Cold Water, Space Heating, Plumbing, drainage, Sanitary Fittings.

General Matters
External Areas, Trees, Locality, Neighbours Building Survey Only - Local Authority Consents, Planning Advice Photographs. RICS Homebuyers Only - Open Market Valuation, Insurance Valuation

What do you do next...
To receive your FREE, No Hassle quote and to see how easy we can make your new mortgage, remortgage or loan happen, simply:

•  Fill in our Mortgage/Remortgage Enquiry form , our consultants will work on your behalf to get the best quotes. (Recommended)

•  Call us on 08432 897 822 For more information (8.30am-7pm 5 days per week – Answer phone 24Hours a Day)