Surveys

There are currently three types of survey inspections.

Valuation Inspection

This is the most common inspection and the one insisted upon by mortgage lenders as a minimum requirement. Essentially this is an inspection carried out to determine the value of the property for lending purposes. This limited inspection may take only a few minutes and little attention is paid to anything other than obvious defects.

Home Buyers Report

This is the most common form of report and is prepared to a formula approved by the Royal Institute of Chartered Surveyors. It will cover most parts of the main structure i.e. walls, roof etc. and will advise of any defects which will require your attention. The report normally runs to six or seven pages and will include a valuation.

Full Structural Survey

This is the most comprehensive type of report usually required for older properties or those with obvious problems requiring investigation. This type of report will include drainage and electricity reports supplied by specialist contractors and can run to twenty or so pages of detailed information.

Which survey type is right for me?

A Valuation Inspection is normally commissioned by the mortgage lender and, although paid for by the buyer, remains the lender's property. A Homebuyers Report or Full Structural Survey will be commissioned by the buyer and the contents will often be used to justify a last minute renegotiation of the price. This can sometimes more than save the cost of the survey.