As there are a number of different kinds of house surveys and reports it can often be a struggle to determine what each one is for and what each one meets. However, each survey has its own particular benefits and performs an individual action.
Though, they may seem the same, each has its own purpose. So, what does each report do and for what scenario is it suitable?
Home Buyer's Report
This type of report is specifically performed when looking to purchase a property. It is designed to highlight problems with the structural safety of a home and provides a general oversight of a home prior to purchase. It looks out for the most major issues with the property, such as problems with dampness, or roofing amongst, other areas. It is not meant to provide granular detail, but an overview of a property prior to commitment by the purchaser before entering into an agreement to buy a house. Generally the home buyer's report takes between 2-4 hours to complete and is carried out by an independent reporter, who will let you know of any issues that may arise and which may require further investigation at a more in-depth level.
Building Survey
This is more suited to older residences, or homes that aren't built from standard materials, such as timber homes or homes with a thatched roof. They take up to a full day to complete and are a more rigorous survey than the home buyer's report. This report will look in depth at the structural soundness of the building and determines whether there are problems. As it's more descriptive and takes a deep look into the house and its structure, it will usually show issues, though this doesn't mean you shouldn't purchase the home. The high level of detail means few homes will ever come clean from this report. Building surveys are performed by members of the Royal Institution of Chartered Surveyors. Naturally, the cost of a building survey tends to be considerably higher than that of a general homebuyers report.
New Build Snagging
The snagging survey, as you may have guessed, is performed on new build properties. It is usually carried out by the house builders themselves and the homeowners prior to sign off of the property as completed. Snagging list items can range from tiny paint overspills to issues with dripping taps, loose tiles, poorly siliconed sealants, right up to major issues with the property, including structural cracking and roof problems. In the event that the purchaser is unhappy with the snagging list carried out with the property developer or an issue arises at a later point with the new house, an independent surveyor may be called out to go over a snagging list again.
Valuation Survey
This survey is performed by the mortgage lender to ensure the price of the home is worth the mortgage. This determination of market value aims to ensure that the property will not go into negative equity if the lender has to sell it and the amount lent by the mortgage company will be covered at the very least (however, in a turbulent economic climate of course, this may still be unavoidable). These surveys are generally carried out in a few hours, but are often an obligatory requirement prior to release and approval for a mortgage on a property.
Energy Performance Certificate
This survey looks into the energy performance of a building and determines whether it is efficient enough to be rated above the average in the UK. The survey determines the efficiency of a building on a scale of A-E, with A-C being more efficient than the average UK home. This survey is arranged by the seller of the home and is now an obligatory requirement as part of the sales process. Knowing the energy efficiency of a building can save you thousands in the long run. The survey looks at issues such as ventilation, insulation, lighting, heating, and other 'green' elements which may affect the overall energy efficient nature of a property.
Finding A Surveyor
If you're considering finding a surveyor to carry out one of the surveys detailed above you should ensure that you compare several quotes from surveyors as you should with any type of service provider.
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