Types of Surveys

There are fundementally only really 2 types of survey:-

1. The Homebuyers Survey and Valuation (also known as HSV, HBSV or Homebuyer Report)
2. The Building Survey

The Homebuyer Survey and Valuation Report (HSV)

A Homebuyer Survey and Valuation Report is a slightly more detailed inspection of the property than the Mortgage Valuation and is a service designed to provide the Client with useful information in an easily read and understandable format at a mid-range cost. We would advise that you request quotes from at least surveyors as charges can vary. The Honebuyers Survey and Valuation is a service designed for properties which are of conventional construction and in apparently reasonable condition.

The following will be commented on in a HSV:-

• The general condition of the property
• Any significant problems, issues or defects which may affect its value.
• Urgent and significant matters that need assessing before exchange of contracts, including recommendations for any further investigation by specialists.
• Results of testing walls and floors for dampness and timbers for damage, including woodworm and rot.
• Comments on the existence and condition of damp-proofing, insulation and the services (although the latter will not be tested).
• The recommended reinstatement cost for insurance purposes (the anticipated costs of rebuilding a property in the event of damage by fire or other insured risk). This is not the same as the market value of the property.
• The value of the property will be assessed in the light of its condition, as found on the day of inspection.

The main objective, is to assist the pruchaser make a reasoned and informed judgement on whether or not they should proceed with the purchase, and fully understand what decisions and actions should be taken before Contracts are exchanged. It might also give the buyer the negotiating tool needed to discuss a reduction in price.

The Building Survey

This is a comprehensive inspection, suitable for all property types, but especially recommended for:

• Listed buildings.
• Property over 100 years old..
• Property which you plan to renovate or alter.
• Property which has already had extensive alteration/extension.
• Property which has been neglected and poorly maintained.

A Building Survey involves a detailed examination of all accessible parts of the property and can be tailor-made to suit your individual needs and concerns.

The Building Survey includes the following information:-

• The Property’s general condition.
• The implications of any defects and the possible cost of repairs.
• Results of testing walls for dampness and timbers for damage, including woodworm or rot.
• Comments on the existence and condition of damp-proofing, insulation and services (although the latter will not be tested).
• Extensive technical information on the construction of the property, and details about materials used in construction.
• Specific comments on aspects of the building, tailor-made to your requirements.
• Recommendations for any further specialist inspections.

It should be noted that a Building Survey will usually not  include a Valuation, although for a small additional fee this can be supplied.