Surveys are a critical part of property sales.
One of the essential things to know about this is how long they take.
But to understand this, you should first understand the context around surveys.
Namely, the different types of survey, the time they take, the preparation involved, and more.
Read on to learn more.
Carrying out a survey
It usually takes between two and four hours to carry out a survey.
The exact time depends on your home’s size and how detailed the report is.
Organising a survey
From booking your survey to receiving the report usually takes a few days.
You should start arranging a survey once you’ve accepted an offer on a home.
There are advantages to starting the process early. It should provide time to renegotiate the price or make repairs if issues are found.
You will need to pay for a survey. So make sure you have the cash to hand before you arrange one.
Who to use for a survey
Some estate agents, solicitors and mortgage providers may suggest using their in-house conveyancers or partner companies.
You are not obliged to do so and may prefer a direct relationship with a surveyor.
You should also use a local surveyor, who is more likely to have valuable local knowledge. Check they are registered with the Royal Institute of Chartered Surveyors.
Different types of surveys and house assessments
Property transactions involve several assessments, all with different goals and criteria.
Not all of these are surveys. And to make things more complicated, several different surveys exist.
It’s easy to get them mixed up, so here’s a brief breakdown:
Market appraisal (/valuation)
Valuations can be carried out by several different professionals, including:
- Estate agent
- Chartered surveyors
- Online estate agents.
They will conduct this to assess a property’s value.
You do not have to follow their advice. If you’d like a quick market appraisal, we can give you a house valuation within 24 hours.
Mortgage valuation
Your mortgage provider will value your property to ensure it is worth the amount they lend you.
Sometimes, they will ask you to pay for this. If they decide it isn’t, known as down valuing, you may have to ask the seller to lower their price or make up the difference yourself.
Surveys
The buyer arranges this to check the property is in good condition. This will point out significant issues before you’re committed to buying the home.
You can also book various types of surveys depending on how comprehensively you feel a home needs checking:
Condition report
This gives an overview of the state of the property and points out any major problems. It’s best for conventionally built, modern buildings.
At about around £250, it is the cheapest form of survey.
Homebuyer report
This takes a more in-depth look at a home, highlighting red flag issues with houses, such as subsidence and damp.
The surveyor won’t go under floorboards or behind walls, but they may provide a valuation. These cost around £400.
Building survey
A more detailed look at problems with advice on repairs.
These often use a 1, 2, 3 rating system to prioritise which are the most pressing concerns. They start at around £500.
Full structural survey
Looking at a home in detail, these surveys will suggest potential hidden defects and ways to resolve them. They’re perfect for older homes. These cost £600 and upwards.
You can book any of these for a newly built property, although a 10-year warranty usually covers these homes.
Snagging survey
Snagging surveys are also available for around £300, which list issues a developer should fix before you move in.
In Scotland, sellers must provide a home report, which includes a survey that assesses the condition of a home and a valuation.
