The Need for Property Surveys
To assess the actual structural condition of a property for sale, it is important to subject it to a survey. The purpose of this survey is to be able to determine the property’s sale price. It is important that the surveys be performed before making any contracts between the prospective buyer and the current property owner.
Two types of surveys have been recognized by authorized bodies. These two are the homebuyer’s survey and valuation and the building survey. We can also call the first type homebuyer’s report.
When doing the homebuyers survey and valuation, professional surveyors are required by law to follow the exact format prescribed by regulating bodies. In a 9 page report with relevant information about a major sector of the property, professional surveyors show the actual condition of the property.
What this surveys aims to achieve is to produce a substantive report that shows the exact physical condition of the property and the specific areas that need further investigation. There is nothing in the report that mentions small details but only its overall current state. Small items not included in the report are wiring, gas, draining information, and others.
If the property is in good condition, not older than 150 years, and with an area of less than 2000 square feet, then this type of survey is good for these properties. This is a relatively cheaper survey compared to the other type. This relatively cheaper price is what make homeowners prefer it over the other. This type of survey is also helpful for those doing house renovation without any actual intent of selling the house.
A building survey is more expensive than the first type of survey. The reasons for this is because building surveys includes every detail about the property, even the smallest ones; they are more thorough and comprehensive.
This survey take a long time to complete. It is still worth waiting since every tiny detail about the property will be exposed in this building survey. This gives the owners or the prospective buyer the right insights as to what the real condition of the property really is. It can be performed on all types of properties regardless of size and age.
Valuation of the property is not included in the report. Property valuation can actually be requested from the surveyors by the person or agency that consigned the services to them. There are some surveyors who provide the property value for free but some would ask for an additional fee.
The exact physical condition of the property is reported in a building survey. What you have in the building survey report are the little details about the property and its overall current state. If you need more information about these different types of surveys you can visit specific websites that offer survey quotes.