How To Get Survey Of Property

How to Get a Property Survey: A Comprehensive Guide

Obtaining a property survey is a crucial step in the property buying or selling process, offering vital information about the boundaries and features of your land. This comprehensive guide will walk you through the different types of surveys, the process of commissioning one, and what to expect from the results. Understanding this process can save you potential headaches and costly disputes down the line.

What is a Property Survey?

A property survey is a detailed measurement and mapping of a property's boundaries, buildings, and other features. It provides a visual representation of the land and its characteristics, clarifying ownership rights and identifying any potential issues. This is different from a valuation, which assesses the monetary worth of the property. The survey provides the physical details.

Types of Property Surveys:

Several types of surveys exist, each serving a different purpose and level of detail:

• RICS Level 1 Survey (formerly known as a Plan Only Survey): This is the most basic type, primarily suitable for low-value, low-risk properties, or those where the buyer has already undertaken a thorough inspection. It checks title boundaries against the property's registered plan and may highlight any obvious discrepancies.

• RICS Level 2 Survey (formerly known as a Mid-Range Survey): A more comprehensive survey, suitable for properties that require a detailed inspection of the property's physical condition. It combines the features of a Level 1 survey with an assessment of the condition of visible parts of the building’s structure. This identifies potential problems but doesn't involve detailed investigations.

• RICS Level 3 Survey (formerly known as a Full Structural Survey): The most extensive and detailed survey, suitable for older properties, those with potential structural issues, or those requiring a thorough assessment. This will provide a comprehensive review of the property’s structural condition, identifying any problems that require further investigation.

Choosing the Right Survey:

The type of survey you need depends on several factors, including:

• Property age and type: Older properties or those with complex features often require a more comprehensive survey.
• Property value: Higher-value properties warrant a more detailed assessment to protect your investment.
• Your level of risk tolerance: If you are risk-averse, a Level 3 survey might be preferable.
• Mortgage lender requirements: Your mortgage lender may specify the type of survey required.

How to Commission a Property Survey:

1. Identify a qualified surveyor: Look for a surveyor who is a member of a relevant professional body, such as the Royal Institution of Chartered Surveyors (RICS). Check online reviews and compare quotes from multiple surveyors.

2. Obtain quotes: Request detailed quotes from several surveyors, outlining the scope of work for each type of survey. Compare prices and services to find the best value for money.

3. Review the contract: Carefully review the contract before signing, ensuring you understand the scope of work, payment terms, and liability clauses.

4. Schedule the survey: Once the contract is signed, schedule the survey appointment with the chosen surveyor.

5. Attend the survey (if possible): While not always necessary, attending the survey allows you to ask questions and gain a better understanding of the process.

6. Receive the report: The surveyor will provide a detailed report outlining their findings, including any potential issues or discrepancies.

Understanding the Survey Report:

The survey report will contain detailed information about the property's boundaries, features, and condition. Pay close attention to any identified problems or discrepancies. This document is a crucial element in your property transaction.

Potential Issues and Discrepancies:

Surveys may reveal issues like boundary disputes, encroachment, structural defects, or discrepancies between the property's title and its physical condition. Addressing these issues early is vital to avoid costly disputes later.

By following this guide, you can navigate the process of obtaining a property survey confidently and ensure you have all the necessary information to make informed decisions about your property purchase or sale. Remember, a thorough survey is an investment that protects you from unforeseen problems and potentially significant financial losses.