Choosing Between Surveys

The Building Survey (Often called a Structural Survey)

A Building Survey is an investigation into, and assessment of, the constuction and condition of a building. It is based on a detailed inspection of the building in as much depth as is possible without damaging the building or contents.

The exact extent and style of the inspection will by the subject of specific agreement with the individual Surveyor. It may include specialist reports (services, drains, etc). The report will include guidance on maintenance and remedial works and often a detailed comment on individual defects.

A Building Survey is essential when purchasing period buildings, those with unusual characteristics or of unusual construction. It is equally suitable for modern traditional buildings.

Because of the individual nature of a Building Survey it is not possible to give any guidance on costs, as it is with the Homebuyers Survey and Valuation. The fee will vary according to the type, size, value and location of the property. Surveyors will always be willing to discuss the level of fees prior to making the inspection and will sometimes make a preliminary inspection to ascertain the extent of the survey prior to quoting a fee. 

The Intermediate Building Survey

The intermediate Building Survey, concentrates on significant building defects and offers the client advice on essential repaires. The Survey is designed to provide a clear and concise account of the condition of the building filling the gap between the full Buiding Survey and the HSV (see below). This survey would benefit the client who has some specific concerns on the subject property and requires a more detailed report. Some of the advantages include:

• Detailed site investigation
• Schedule of condition including executive summary
• Photographic evidence
• Technical information delivered in an easy to read report
• Insurance rebuilding cost assessment (If requested)

The Homebuyer Survey and Valuation

This report is based on a format drawn up by the Royal Institution of Chartered Surveyors.  It gives the prospective purchaser information on:-

• The general condition of the property
• Any significant factors likely to affect materially the value of the property
• The value of the property in the open market
• The value for insurance purposes

The information provided is in a simple and straightforward layout, easy to read and understand,  It is based on a visual inspection of as much of the interior and exterior of the building as is accessible with safety and without undue difficulty, including roof voids, flat roofs accessible with a 3m (10ft) ladder, outbuildings, site boundaries etc and an overall impression of the services will be given.

This type of report is suitable for most twentieth century property, but structures which are unusual by virtue of design or construction, and particularly large properties may require a more detailed report and may not easily fall within the format.  Your Surveyor will be able to advise you during the preliminary discussion.

The cost of the report will depend on the size and type of property, its location and value.  It is often not much more expensive than the basic mortgage valuation report and is far more wide ranging and gives the buyer the information needed to make a more considered decision on the purchase. 

The Mortgage Valuation

The primary purpose of a mortgage valuation report is to provide an opinion to the lender as to whether a property is suitable security for the money to be lent.

Whilst the valuer will, of course, take into account the general condition of the building, his/her valuation will be based on only a brief and superficial inspection of the property.  On a pro-forma sheet the space allocated for comment on the condition of the building is very limited.  Remember that the lender lends to a person and it is that person who is liable for the building, its condition and maintenance.  Whilst the building is important, it is to some extend secondary for the lender's purpose.