If you’re purchasing a property, you might be considering having a survey performed on your property. This is a great way to assess the condition and value of a house, which can be vital information in making your purchase decision. Throughout this process you might ask yourself several questions. These can include ‘Do I need a survey when buying a house?’ and ‘How long does a homebuyers survey take?’
On average the inspection takes between 1-4 hours to complete. You will likely receive the Homebuyers report within a week of the inspection or 3-5 days. The timescale can be influenced by the size of the property and the complexity of the building.
In this article we’ll explore what a Homebuyers survey is, the key points within the survey and how long it will take between ordering the survey and receiving the results of the report.
If you are ready to have a homebuyer’s survey completed on your property, get your free quote now from My Conveyancing Specialist.
What is a Homebuyers Survey?
The Homebuyers survey is the intermediate option out of the three home surveys offered at My Conveyancing Specialist. Its purpose is to provide an unbiased overview of the defects and condition of a property. Whereas a level one survey offers a brief inspection of the condition and a level three survey provides and in-depth investigation to each element of the property, the level two, homebuyer’s report is an easy middle ground.
For many properties Homebuyers report is more than enough information to base their purchase decision on. Information is provided on the key structural elements featured internally and externally. There is also consideration of the services like water, gas and electricity as well as moisture and damp testing. Any damage or defects will also be noted in the report.
This information can then be used to negotiate with the sellers for some of the issues to be resolved or for the price of the property to be reduced. This can greatly increase your financial position and the safety of the property when you move in. There will be far fewer unexpected costly repairs.
How long does the inspection take?
The Homebuyers survey occurs in two parts. There’s the inspection of the property, as well as the generation of the report. When considering how long a homebuyer’s survey takes, the results is a combination of these two factors.
The amount of time it takes to complete the inspection typically depends on the size and complexity of the property. When working with RICS accredited surveyors, such as those provided by My Conveyancing Specialist, there is a standardised procedure to follow. This means that there is a set checklist and expectation for the inspection to be carried out on each element. Based on this the surveyor will take between 1 and 4 hours to complete a Homebuyer’s survey.
This is a considerably shorter amount of time than a Full Property survey which on average can take between 3 and 8 hours to complete. Additionally, a level one survey would take around an hour, or even less. The depth of each survey is clearly presented in the time taken to complete and their subsequent price tags.
When answering how long does a homebuyers survey take to complete, based on the inspection the answer would be a handful of hours. This time is consumed with visual inspections of the interior and exterior of the property. Checks include:
- Assessment of insulation, drainage and damp proofing
- Assessment of wooden features for rot
- Inspection of heating system as well as gas or oil supplies.
- Testing of plumbing, water supply and function
- Faults in accessible parts of the property.
- Estimated costs for rebuilding or repairing certain aspects of the building.
- Optional valuation of the property (may incur additional cost)
How long does a Homebuyers survey report take?
After attending the property and completing the inspection, the surveyor requires an amount of time to generate an accessible report for the buyer. This will include the information gathered from the property inspection, as well as information retrieved from several sources and justification for their judgements throughout.
Understanding what is included within the report can be an important factor when selecting which survey to have completed, it can also provide great insight into the time it takes to compile this information.
- Within your report you will find a description of each element inspected within the property. There will be enough detail included so you are able to recognise and identify that specific element within the property.
- Along with the specified element, there will be an assessment on the condition and quality. The surveyor may also provide some justification for this judgement.
- To provide support to the description of overall quality, RICS accredited surveyors often include a rating system within their reports. Frequently used is a traffic light system. This indicates the quality of the element with red being poor condition, amber representing fair condition and green, good condition.
- If the surveyor is able to uncover the required information, the report will include details regarding the property design and materials used in construction.
- Depending on the surveyor’s competence and experience, there will likely be recommendations of costly repairs and maintenance expectations. Along with this may also be an outline of remedial or repair work needed urgently.
- Within the report there may also be a section that outlines the urgent consequences if immediate work is not carried out straight away.
- Should the Homebuyer’s survey not be enough information for a comprehensive overview of the property, the surveyor will recommend necessary further investigation.
Overall, a lot of information regarding the specific property can be compiled in a short amount of time. There may be delays in agreements between surveyors and the sellers and their agents when agreeing a scheduled inspection. However, as the buyer this is out of your control. If all goes smoothly, you can probably expect the results of the survey within 1-2 weeks of making the enquiry.
In this time, the inspection is arranged, preliminary checks are made, the inspection is completed, further local checks are carried out and the report is generated and returned to the buyer. For surveyors that can work efficiently and affordably to provide you with a professional level of detail regarding a property, check out home surveys provided by My Conveyancing Specialist.