Sherwood Surveyors & Property Consultants

01909 511 229 or 07530 291 367

Types of Survey recommended by RICS

 RICS Building Survey & Report

The RICS describes this service as: ‘A comprehensive inspection of a property reported in a style to suit the property and your specific requirements’.

This type of survey is suitable for all properties especially:

  • Older properties
  • Buildings constructed in an unusual way
  • Buildings that are run down and dilapidated
  • Properties you plan to renovate or alter
  • Properties that have had extensive alterations

Building surveys are tailored to your needs and cover particular concerns you have about the building. The survey examines all accessible parts of the property and if there are specific inaccessible areas that you are concerned about these can be also be covered.

The report includes detailed technical information on materials construction and condition as well as details of the whole range of defects. The report can also include details of:

  • The possible cost of repairs.
  • Results of damp testing on walls.
  • Damage to timbers - including woodworm and rot.
  • The condition of damp-proofing insulation and drainage (though drains aren’t tested).
  • Technical information on the construction of the property and the materials used.
  • Major and minor defects.
  • The location and recommendations for any further special inspections.

 

RICS Homebuyer Survey & Report

The Homebuyer Service includes an inspection a report and a valuation. The Homebuyer report is a standard format and is different to a Building Survey in three main ways.

  • It is best used on certain types of property. These are houses, bungalows and flats that are in reasonable condition and of a traditional form of construction.
  • It highlights the most important issues in the view of the visiting surveyor. This is achieved by applying condition ratings to elements of the building. You are made aware of defects that are serious or require urgent attention.
  • The considered market value and reinstatement cost (which you will need for insurance purposes) are calculated. The report also includes other information.

The Homebuyer Service can be an economical option and is normally less expensive than the building survey.

Any defects that the surveyor considers do not need repairing or replacing or any minor matters that do not affect the value of the property are generally not included in the report.

The surveyor does not report on the cost of any work to put right defects or make recommendations on how these repairs should be carried out. However there is general advice in the ‘What to do now’ section at the end of the report.

The RICS state the benefits of the Homebuyer Reports as follows:

Benefits for buyers

  • To help you make an informed decision on what is a reasonable price to pay for the property and renegotiate the purchase price where issues are flagged before legal commitment to purchase has been made.
  • To help you to make an informed decision on whether to go ahead with buying the property taking into account any repairs or replacements the property may need and so helping you to avoid an expensive mistake.
  • To alert you to any further specialist advice you may need to consider before exchanging contracts.

Benefits for sellers

  • To make you aware of any issues you may want to resolve or further investigations to take before putting your property on the market.
  • To prompt you to get estimates for any repairs replacement works.
  • To help you establish a realistic selling price based on the surveyor's opinion of market value and so reduce risk of price being renegotiated after future mortgage valuation/buyer survey.

Although primarily intended for purchasers the report can also benefit sellers. If commissioned before the property is put on the market the report may alert the seller to problems which could later hold up the sale.

 

RICS Condition Survey & Report

The Condition Report Service is similar to the Homebuyers Service; however it does not provide a valuation or reference to reinstatement costs.

The surveyor who provides the report aims to inform you about:

  • The condition and construction of the property.
  • Any problems that are serious or require urgent attention.
  • Recommendations of further investigation in order to prevent serious damage to the fabric of the building.
  • Problems or issues that may be hazardous to safety and where further enquiries are needed.

The RICS describes the report as being of standard format which provides the buyer with an assessment on the general condition of the main elements of the property. Condition ratings are used for the main parts of the building garage and relevant external elements.

The surveyor only outlines the reasoning for the condition rating and does not include any further advice. The surveyor does not report on the cost of any work to put right problems or make recommendations on how repairs should be carried out. However the surveyor does summarise defects and problems that present a risk.

 

Mortgage Valuation

Sherwood Surveyors do not undertake mortgage valuation reports for buyers of domestic property.  These reports are prepared for lenders (normally banks or building societies) and not the prospective borrower (buyer). A mortgage valuation report is prepared for a prospective lender in order to establish the type and value of  the property.  

Call us today on 01909 511 229 or Freephone 0800 092 0343 and speak to one of our local Chartered Surveyors.

 
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