General Information
Excerpts from www.rics.org
"Buying a property – make sure you have all the information you need"
"Surveys are essential in helping you to decide to purchase a property. So it is important to ensure you appoint the right type of surveyor for your needs and to get best advice. Chartered surveyors are professionals whose academic qualifications and training have been approved by RICS. They are required to follow a strict code of ethical conduct and professional standards.
To find a chartered surveyor in your area, call the RICS Contact Center +44 (0)870 333 1600 contactrics@rics.org
Surveys are designed to give you the information you need to make an informed and sensible offer on your future home. Both the Consumer’s Association (publishers Which? Magazine) and The Council of Mortgage Lenders advise you to arrange a survey before buying a property – don't just rely on a valuation."
Surveys
Think of surveys as a kind of health check for your prospective home. If you intend to buy, have a survey done and carefully consider its results before entering into a contract (or before making an offer in Scotland). It could save you money.
Depending on the seriousness of any structural problems you could try to re-negotiate the sale price to reflect the cost of any necessary repairs in your offer, or decide not to buy the property at all.
Surveyors should report on all parts of a property that they can easily get to. But they don't have to inspect areas that are difficult to access. For instance they won't:
Lift carpets
Shift furniture
Test wiring and water supply (although they may comment on their condition).
But they will use a ladder to inspect roofs up to 3m in height.
There are two main types of survey:
Building Survey
Homebuyer Survey and Valuation (also known as HSV, HBSV or Homebuyer report)
A Building Survey includes details of:
Major and minor faultsThe implications of any possible faults and the possible cost of repairsResults of any testing of walls for dampness.Comments on damage to timbers including woodworm or rotComments on the existence and condition of damp-proofing, insulation and drainage (although drains are not tested)Extensive technical information on the construction of the property and details about material used.Information on the location.Recommendations for any further special inspections Remember: A building survey does not include a valuation. Although your surveyor can provide a separate valuation report if you need it.
A Homebuyers Survey and Valuation Report includes details of:
The property's general conditionAny major faults, in accessible parts of the property, that may affect its value Urgent and significant matters that need assessing before exchanging contracts (or before making an offer in Scotland)including recommendations for any further specialist inspections Results of any testing of walls for dampness Comments on damage to timbers including woodworm or rot Comments on the existence and condition of damp-proofing, insulation and drainage (although drains are not tested) The recommended costs of re-constructing a building in the event of damage (such as fire) for insurance purposes. This is not the same as the market value of the property The value of the property on the open market