Residential Surveys
For residential purchasers there are two main types of survey, the Homebuyer Report and the Building Survey. They are an insight into the condition of a property and allow the purchaser to make informed decisions on the purchase and the price being paid.
The RICS Homebuyer Report Service
The RICS Homebuyer Report Service is ideal for conventional residential properties, including apartments, which appear to be in reasonable condition but is not recommended for properties requiring extensive renovation, etc. This report will enable you to:
- Make an informed decision on whether to go ahead with buying the property
- Decide what is a reasonable price to pay for the property
- Take account of any repairs or replacements the property needs
- Consider if you need any further advice before exchanging contracts
The new report has been colour coded and includes "condition ratings" to make it easier for you to identify any problems with the property. It focuses on matters that, in the surveyor's opinion, need to be dealt with or may affect the value of the property.
The Building Survey
The Building Survey (formerly known to many as a Structural Survey) is a better option if you are considering purchasing a property that is listed, or is of unconventional construction, or in need of renovation. This report will provide you with:
- A more detailed assessment of the various elements of the property and their condition
- Advice on the issues uncovered and remedial works required
