Building Report - Legal survey
Before a borrower lends any finance on a property, they will require a survey report to be done on that property. This survey will note any defects or damage that the property has. If the property is in need of a lot of repair or work doing on it, the potential buyer may decide not to go ahead and buy the property. Although having a building report done on a property will inevitably increase fees as there is a charge for this procedure, it is always advisable to have the survey done as you do want to know exactly what you are buying and what work may need to be done. Surveys and reports done on a property are put in place to help you buy and know exactly what it is you have bought.
Building Report Example - Building Report Survey
A building report survey is suitable for residential properties, it provides full details of the construction of the property and gives details of any work or repair that may need doing. A building report is likely to be needed if a property is of an unusual construction, or is terribly run down. If a property has been extensively altered or a major conversion or renovation is planned then again a building report will be needed. Building reports can usually be tailored to a customers individual requirements.
Building Report Information
The building report will contain in detail technical information on any defects. It will explain any work that needs to be carried out on the property whether it be major or minor work as well as materials that will be needed to complete the work. The surveyor should be able to explain any areas you are unsure of so that you can plan any finance, and be confident that you will be financing work that is necessary.