Chartered Surveyor

Homebuyer Survey and Valuation

This type of survey was introduced in recent years to provide prospective purchasers with a concise and economic report on straightforward properties. It is presented on standard stationery and is primarily designed for properties built within the last 100 years, of conventional construction and in reasonable condition.

A Homebuyer Survey and Valuation includes the following information:

  • The property's general condition
  • Any significant defects, in accessible parts of the property, which may affect its value
  • Urgent and significant matters that need assessing before entering into exchanging contracts including recommendations for any further specialist inspections
  • Results of any testing of walls for dampness
  • Comments on damage to timbers including woodworm or rot
  • Comments on the existence and condition of damp-proofing, insulation and drainage (although we would not test the drains)
  • The recommended reinstatement cost for insurance purposes (the anticipated costs of re-constructing a building in the event of damage by an insured risk, eg fire). This is not the same as the market value
  • The value of the property on the open market.

A Homebuyer Survey and Valuation is not a detailed survey of every aspect of a property, it focuses only on significant and urgent matters. It is not considered suitable for properties built before 1870, those in need of renovation or that you are planning to extend.