Having a Building Survey or Homebuyers Report undertaken on your property is imperative for any purchase so that you, as a buyer can feel secure. It ensures your knowledge that the property is in a suitable condition for purchase and that you are aware of any issues with the property before you take ownership.
Often people can be misinformed that the Mortgage Valuation undertaken by the lender when taking out a mortgage is a Survey, which is incorrect and will tell you very little about the condition of the property or future liabilities.
A Survey will often save you, the buyer, money by identifying any potential issues with the property before any legal obligation to pay the sale price, protecting you from inheriting these issues & extra costs upon purchase.
What type of report to get?
Wren Chartered Surveyors offers two types of purchaser reports, the Homebuyers Report (Level 2) and the Building Survey (Level 3), these are both full Surveys that will look at all the main elements of a building. However key differences do exist in the scope and depth of the reports.
We also offer bespoke reports such as the Specific Defects Report for existing owners to help identify causes of defects or issues and offer remedial advice.
The Homebuyers Report is a mid-level report that will identify any defects with a property where visible and report upon them, however, will offer limited advice on any repair works needed.
It is a well-rounded report, relatively brief and easy to read for any first-time buyer, or purchaser of a property with limited known issues. These reports are less time consuming for the Surveyor, and therefore less expensive.
It will also offer advice on future liabilities, such as when the property should be next decorated or when the roof coverings are likely to require repair or replacement.
Homebuyers are best suited, but not limited to, Purpose Built Flats (not conversions) and non-period (1950’s onwards) Houses.
Building Surveys are bespoke, in-depth reports completely tailored to your property. These reports will endeavour to identify & describe any defects and then offer remedial advice on any potential future liabilities visible within the property.
They also incorporate more detailed advice on matters such as the surrounding areas, services and specialist information such as energy efficiency and fire safety than in the Homebuyers Report.
Also included in a Building Survey is a Reinstatement Valuation for insurance purposes only, photo schedule and a more detailed desk Survey into things such as the subsoil and flood risk.
Building Surveys are best suited, but not limited to, Converted or Period Purpose Built Flats and any type of House.
Specific Defects Report
An SDR will look at a limited number of issues that have already been identified by a homeowner or tenant, such as but not limited to cracking, damp or roof leaks. The Surveyor will help identify the causes of the issue and offer advice on what repairs if any are necessary.
The SDR is designed to be widely tangible & tailored to the specific client’s requirements, so it’s best to discuss what your expectations are before having the inspection undertaken.
SDR’s are best suited, but not limited to, clients who are already in occupation of a property who have identified a potential defect or issue.