Help When Buying a New Flat/Property

A homebuyers survey is a valuation and assessment of defects which are either 'urgent' and require action or 'significant' in that they have an effect on value. The report is concise, it does not detail general repair items. When defects are found the report provides advice in terms of what to do next. Services are not tested.

If a property is not residential, large, very old or not traditional or if there is a particular concern that requires investigating a 'Building Survey' may be more appropriate.

A building survey is an investigation and assessment of the construction and condition of a building and will not normally include advice on value. The survey looks at structure, fabric, finishes and grounds. The survey looks into visible defects and provides guidance on maintenance and remedial measures.

The exposure and testing of services is not usually covered, the report may recommend elemental or specialist investigations are carried out relating to specific issues. (Elemental/Specialist investigations are recommended where there is concern over specific parts or a detailed study is required, e.g. for bulging, cracking, timber decay, drainage tests, tests of services).

Specialist investigations and advice on costs of repair are additional services at additional cost.

The basis of a valuation is set out in the RICS Appraisal and Valuation Manual and the Practice Statements contained in the Manual (which are mandatory for all valuers).

Additions to a standard valuation could include:

• Reporting on values after building works or conversion
• Feasibility studies on the likelihood of various schemes
• Costing of essential repairs
• Otherwise any valuation report will probably report on the construction and condition of a property in little more than a few sentences.

• Terms of sale
• Evidence of title
• Standard searches
• Planning consents and building control certificates
• Property Information Form
• Warranties and guarantees
• Home Condition Report and Energy Efficiency Assessment

The Home Condition Report is an objective report that follows the completion of a careful inspection of the home by a licensed Home Inspector.