What is the difference between a homebuyers report and a level 3 structural survey?
Tuesday 9th March 2021
Lea Streat BSc (Hons)
Tayross Associates are regularly asked what the main differences are between a home buyers report and a level 3 structural survey.
A Home Buyers Report:
This report is formed to give a general overall opinion on the condition of a property; it may also include a valuation for the reinstatement cost of the property.
It is an easy to understand report which uses a traffic light system check list where there are three ratings:
• Red indicates further action required by the buyer and/or vendor.
• Amber indicates areas which may need attention.
• Green showed the areas which are considered to be okay.
The report will give a brief description of the condition of areas within the property, providing additional information for legal advisors as well as the most important defects noted within the property.
When to choose a homebuyers report:
1. The property is less than 10 years old.
2. The property is of a conventional build and style.
3. It is in a reasonably good condition (newly renovated).
A Level 3 Structural Survey:
This is an in detailed report which depicts all aspects within the property. A comprehensive analysis of a properties condition and structural integrity. This report like the home buyers report, includes a valuation for the reinstatement cost of the property.
Similarly to the homebuyers report, it also incorporates an easy to understand traffic light system where defects are rated in terms of severity and importance, the three ratings being:
• Red indicates further action required by the buyer and/or vendor, this section will go into further details regarding the defects, will offer suggested courses of action to rectify the defects and will offer a valuation for the remedial actions required.
• Amber indicates areas which may need attention, offering suggested courses of action to rectify the defects and will offer a value for the remedial actions required.
• Green shows the areas which are considered to be reasonable or in good condition.
Level 3 structural surveys are the most intrusive form of survey where special equipment will be used to check for damp, electrical socket tests and thorough searches for wood beetle infestation. Additional information will be provided for legal advisors.
When to choose a level 3 structural report:
1. The property is more than 10 years old.
2. The property is of an unconventional build and style.
3. If you have particular concerns about the property.
4. If the property has undertaken structural alterations in the past.
Tayross Associates Ltd like to personalise all of our structural survey reports to each client and we like to ask clients to send in a list of questions regarding their property such as future extension works to internal alterations. We offer this service free of charge and address all of your questions embedding them within our report accordingly.
We also produce a PowerPoint Photographic schedule which goes hand in hand with our reports, guiding our clients through their report, allowing them to have a clear and concise visual representation and understanding of the property they are looking to invest into and any defects that await them.