UK
Home survey
A home survey is a report a buyer commissions on the condition of the building. It is separate from a lender’s valuation, which is for the mortgage and is often not a full survey.
Also called Survey, Building survey.
Levels, in brief
In England and Wales, RICS survey levels run from a condition report to a full building survey. Which one the buyer orders is their choice. A lender’s valuation can down-value the property against the price agreed. That is a lending figure, not a shopping list of repairs, and you should not paraphrase it as if you had read a survey you have not seen.
After the report
Buyers sometimes renegotiate. Pass on the request and the reason. The vendor decides whether to reduce the price, do work, or hold the figure. Do not advise which defects are serious.
Questions
What does Home survey mean?
A home survey is a report a buyer commissions on the condition of the building. It is separate from a lender’s valuation, which is for the mortgage and is often not a full survey.
General information for agency staff, not legal advice. Rules and local practice change. Check the official source before you rely on a definition in a client letter.