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What is a house survey?
When buying a house, it's important to have an inspection done by a surveyor.
Depending on the type of survey you choose, your surveyor lets you know if there are any problems with the property that might be serious enough to change your mind about making the sale. Common issues include unstable walls, needing roof repair/replacement and subsidence (when one part of land sinks below another).
Are house surveys and property valuations the same thing?
No, property valuations and house surveys are entirely different.
Your mortgage lender performs a property valuation survey to confirm the property's value for the mortgage. On the other hand, a house survey is much more thorough and provides invaluable information for you as a home buyer.
What types of house surveys are there?
There are several types of house surveys that vary in the level of detail and inspection performed.
Condition Report (RICS Level 1)
A condition report is the most simple type of house survey. It can be completed in as little as 1-2 hours, depending on the size of the property and its contents. The report will tell you if there are any issues with the property that need attention or repair before sale, but it won't go into great detail about the property's condition.
Homebuyer Report (RICS Level 2)
A homebuyer report is a mid-range level of inspection. It will provide you with more information than a condition report and covers most issues that may affect the sale of the property, including damp and timber pest inspections.
Building Survey (RICS Level 3)
A building survey is more in-depth than a condition report and will take anywhere from 2 to 6 hours, depending on the size of the house. A building survey provides information about the construction materials used, the state of repair the home is in and any problems or potential issues with its structure. It will also include advice on addressing any issues discovered before buying the property and providing a guide for future maintenance needs.
Your home surveyor should provide you with a report containing information about the property's condition and make any suggestions for improvement. You should choose the type of survey based on the property; for example, for a non-standard construction home, a building survey would be more appropriate.
Do I need a house survey?
If you're planning to go ahead with buying a property, it makes sense to find out if there are any problems before going ahead with the purchase. While they are not essential, it's highly recommended that you go ahead and have one done.
How much does a house survey cost?
The cost of a house survey depends on several factors but typically ranges from between £300-£800.
- The type of survey you need. A Homebuyer's Survey will generally be less expensive than a Structural Survey.
- The size of the property – Larger properties are more expensive to survey and so it's important to bear this in mind when comparing prices.
- The location of the property. It is more expensive to have a survey done in central London than it would be to get one done further out of town, for example.
When should I get a house survey?
The initial survey is typically performed after having your offer accepted. If there are specific issues or concerns, there may be subsequent surveys required or desirable, for example, if asbestos is suspected.
What should I look for when choosing a house surveyor?
When choosing a house surveyor, you should look for one accredited by the Royal Institution of Chartered Surveyors (RICS). You can expect to receive a quality service from a RICs-accredited surveyor as they are bound by strict standards of practice and a code of ethics.
In addition, it's a good idea to ask for references and examples of their previous work so you can see what service you can expect.
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What is a RICS Surveyor?
The Royal Institute of Chartered Surveyors (RICS) manages qualifications and standards for land, property and infrastructure. Most qualified surveyors are members of RICS, and they will have professional indemnity insurance. Some may be members of the Residential Property Surveyors Association, which offers similar services.
What happens after the survey?
Once your surveyor has conducted the survey, the report will typically be sent to you within two weeks.
You will need to decide whether or not to go ahead with the property purchase based on the survey result. If any problems are identified, these should be considered carefully before going ahead with the purchase, as they could potentially lead to issues or costs in the future. If you decide to go ahead with the purchase, you may choose to renegotiate the offer with the seller to help with the costs of rectifying the issue.
What if I'm buying a house at auction?
If you're buying a house at auction, you're recommended to get the survey done before making your bid. This will allow you to review the report and check for any issues that could potentially stop you from buying the house or lower your offer.
An auction is a great way to buy property, but if there are problems with it, you might end up losing money. It's essential to carefully consider all costs involved in purchasing a home at auction, including a survey and the cost of rectifying any issues that it may identify.
You will have peace of mind knowing exactly where you stand and what costs might be involved if problems are found or for future maintenance or any emergency.
Do I need a house survey on a new build?
No, you will not need a RICS survey if you're buying a new build home.
Suppose you're buying a new build property. In that case, the developer or builder is typically responsible for any issues that arise with your home during its first few years and will usually rectify them as necessary. Once you've moved in, it's important to maintain these properties regularly and keep your developer or builder informed to ensure any problems are taken care of.
A snagging list is a checklist of any finishing or "snagging" issues that you need to be aware of before completing on your home. You will not usually have a formal survey completed by an approved and qualified RICS surveyor.
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