The purpose of a property survey is to provide information and insights about a property to the buyers and their mortgage company. Surveys are carried out by chartered surveyors who are members of the Royal Institution of Chartered Surveyors (RICS). The surveyor will inspect the property, take measurements, and provide a report with their findings and recommendations. The results of a property survey are essential for a buyer as it will highlight any areas or concern or potential future maintenance to the property.
Here at Royall Best we have a good working relationship with local Surveyors* who we will gladly put you in touch with to provide you with a quote
Below are the main types of surveys:
Homebuyer's Report:
This tends to be the survey choice for many buyers. It provides a detailed inspection of the property's condition and highlights any issues that may affect its value. It typically includes information about structural problems, dampness, and other potential issues.
Building Survey (formerly known as a Structural Survey):
This is a more comprehensive survey suitable for older properties, those in poor condition, or properties that have undergone significant alterations. It provides a thorough examination of the property's structure and includes detailed information on the condition.
Valuation Survey: Often carried out on behalf of mortgage lenders, this survey assesses the property's value. While it does not provide as much detail about the property's condition as a Homebuyer's Report or Building Survey, it helps the lender determine if the property is worth the requested loan amount.
*Our recommendations are always based on our experience of which service providers we believe are most appropriate for the specific transaction. Certain service providers provide a fee, commission or benefit to Royall Best Ltd for recommending their services. Whilst we offer these services because we believe you may benefit from them, you are under no obligation to use them. We always advise considering multiple options before any instruction and to comprehensively read the third parties’ terms and conditions.
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