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About Surveyors
The main professional body for surveyors in the UK is the Royal Institution of Chartered Surveyors (RICS) and members become qualified by examination. The RICS also requires members to undertake post qualification study and has strict rules of conduct, including the requirement for all practising Chartered Surveyors to have adequate professional indemnity insurance.
Property surveys are a kind of 'health check' for buildings. If you're buying a property, you should have a survey done before you enter into a contract - or before making an offer, if you are buying in Scotland. If there are serious structural problems, you obviously need to know about these before you enter into a binding contract and you may need to re-negotiate the sale price of the property to reflect the cost of necessary repairs - or you may even decide you don't want to buy it at all.
Your surveyor will report on all the parts of the property they can easily reach. They don't normally inspect under carpets or furniture, and they don't test the water supply or wiring - though they'll comment on their condition.
There are two main types of RICS survey:
* RICS Homebuyer Survey and Valuation
* Building Survey
HOMEBUYER SURVEY
A Homebuyer Survey and Valuation (HSV), also known as a Homebuyer's Report, is a survey done to a standard format set out by the RICS. It is most suitable for conventional properties built within the last 150 years, which are in reasonable condition. It doesn't detail every aspect of the property, and only focuses on urgent matters needing attention. It's not usually suitable for properties in need of renovation, or if you're planning major alterations. An HSV includes details of:
* The general condition of the property
* Any major faults in accessible parts of the building that may affect the value
* Any urgent problems that need inspecting by a specialist before you sign a contract
* Results of tests for damp in the walls
* Damage to timbers - including woodworm or rot
* The condition of any damp-proofing, insulation and drainage (though drains aren't tested)
* The estimated cost of rebuilding the property after a fire, for building insurance purposes
* The value of the property on the open market.
BUILDING SURVEY
A Building Survey is a comprehensive inspection of a property and is suitable for all properties, especially, listed buildings, older properties, buildings constructed in an unusual way or with extensive alterations, properties you plan to renovate or alter in any way. It examines all accessible parts of the property - and you can ask to have specific areas included, so it covers any particular concerns you have about the building. A Building Survey includes details of:
* Major and minor defects and what they could mean
* The possible cost of repairs
* Results of damp testing on walls
* Damage to timbers - including woodworm and rot
* The condition of damp-proofing, insulation and drainage (though drains aren't tested)
* Technical information on the construction of the property and the materials used
* The location
* Recommendations for any further special inspections.
A Building Survey does not include a valuation, but your surveyor can provide this separately if you need one.
Acknowledgement: Royal Institution of Chartered Surveyors (www.rics.org)
These notes are offered as a general guide only and do not constitute legal or financial advice.
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