If you are preparing or even thinking of trying to purchase a property then the natural subject of discussion is the mortgage. This for the majority will be the biggest personal financial commitment of your life and should be taken seriously if you are to consider becoming a home owner.

So being an important financial decision you may need to take a form of financial advice before you proceed, and the same applies to the actual property itself. Like so many other ventures things can appear very clear and understandable on the outside but only when you delve a little closer can things become more complicated and not so attractive.

This is why you must be sure that what you are planning to buy is built on solid foundations and that is where the property surveyor can become more important than financing the property itself.

A property survey is the equivalent to an MOT for a car. It helps identify potential or current problems and a surveyor will provide you with a report to ultimately help you make an informed decision. If your buying a property it is advisable to have a survey completed before you enter into a binding contract, in Scotland the rules are slightly different where by you must have a survey completed before you can even make an offer for a property.

A surveyor will evaluate will evaluate the overall condition of a property, but only on parts of the house that is easily accessible, a surveyor will not be obliged to test for gas leaks, the water supply, and wiring but they will comment on their condition to a certain extent.

There are two types of surveys provided by property surveyors on a home:

Homebuyer Survey and Valuation (HSV)

The Home Buyer Survey and Valuation is appropriate for conventional properties built within the last 150 years, and which are in reasonable condition. The report details important problems that could make a difference to the value of the property and gives an opinion on its valuation.

Building Survey (Full Structural Survey)

The Building Survey - also known as a Full Structural Survey - provides a detailed report on the property's construction and condition. It can be applied to any age of property but is particularly helpful for dilapidated properties and those that have been extensively altered. Building Surveys are also useful if you plan to renovate or convert the property.

A survey can be regarded as a money saving tool, it can form a negotiating tool for the sale price to reflect potential repairs or it may lead you to not buying the property at all. Each type of survey will incur different costs and this will depend on the firm you choose to use, it is important that the property surveyor is a member of the Royal Institute of Chartered Surveyors as they have the authority in this sector and they will advise on which type of survey will suit you the most.

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