A building survey is an investigation or inspection of the construction and services of a property in sufficient detail to advise what impact its condition will have upon the client. A building survey is usually commissioned prior to the purchase of a dwelling. A standard survey comprises of the following:
- An appraisal of the form and materials of construction.
- A technical analysis of significant defects revealed and advises on appropriate further actions.
Identification of less significant defects, general disrepair and shortcomings in the physical condition, maintenance and design of the building.
Pre-Purchase Condition Report
A Condition Report is a very basic ‘traffic light’ survey.It is most suitable for new-build and conventional homes in good condition. No advice or valuation is provided in this survey.
Home Buyer Report
A HomeBuyer Report is a survey suitable for conventional properties in reasonable condition.
This will help you find out if there are any structural problems, such as subsidence or damp, as well as any other unwelcome hidden issues inside and outside. But the HomeBuyer Report doesn’t look beyond the floorboards or behind the walls.
Some homebuyer’s reports include a property valuation, so you may be able to revise your offer if the survey reveals a lower price than the mortgage lender’s valuation.
If there’s no valuation included, you could use the report’s suggestions for repairs to renegotiate the price.