Financial Glossary of Finance Terms Building Survey

A Building survey is carried out by a RICS(Royal Institution of Chartered Surveyors) member and provides more detail than a Home Buyers Report

A Building Survey is a comprehensive inspection of a property reported in a style to suit the property and your specific requirements. It’s suitable for all properties, especially:

• Listed buildings
• Older properties
• Buildings constructed in an unusual way, however old they are
• Properties you plan to renovate or alter in any way
• Properties that have had extensive alterations.

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. It is a product which can be tailored to your needs, agreed between you and your surveyor.

A Building Survey can include 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 doesn’t include a valuation, but your surveyor can provide this separately if you need one.