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The Homebuyer Survey and Valuation |
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Although the Homebuyer Survey and Valuation is an 'economy' report, it is a thorough and comprehensive survey designed specifically to assist you, the prospective purchaser,
The general condition of the property, focusing on matters which the surveyor judges to be urgent and/or significant, is, therefore, fully covered, together with any particular features which affect its present value or may affect its future saleability. The Services (gas, water, electricity etc), although inspected, are NOT tested and furniture/floor coverings are not moved/lifted. So, whilst being comprehensive, the inspection is, nevertheless, constrained by accessibility, safety and practicality considerations. An opinion will be given on whether or not the proposed purchase price is reasonable, having regard particularly to the condition and location of the property, and a Re-instatement Cost Valuation will also be provided to advise you of the minimum sum for which the property should be insured. The Homebuyer Survey and Valuation is suitable for most properties, although, if a property is particularly old or in a poor state of repair, then a Building Survey may be more appropriate. If you are in any doubt as to the type of survey you should have, we will be more than happy to discuss this with you. If you would like to read examples of the actual documentation which accompanies a Homebuyers Survey and Valuation, click on the links below. Description of the Homebuyer Service and the Standard Terms of Engagement. Choosing between Surveys (i.e. Homebuyers Survey or Building Survey). Building Survey For the majority of properties, a Homebuyer Survey is perfectly adequate and the type most people get. Sometimes, however, the HSV is not suitable, usually because a property is pre 1900 or in poor condition. Also, if a building is of unusual construction, dilapidated, Listed or extensively altered, a full Building Survey would be more suitable. It is a comprehensive report and includes details on the whole range of defects from major to minor and not just those which are urgent or significant, as in an HSV. It will also give a general indication of potential costs, although it will be appreciated that quotes from contractors/tradesmen will be required in order to determine actual costs. Because of the bespoke nature of a Building Survey, fees are by negotiation depending on the type, size and overall condition of the property.
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