An HSV is a service carried
out to a standard format, defined by The Royal Institution
of Chartered Surveyors (RICS), It is primarily designed for
properties built within the last 150 years, which are of
conventional construction and in reasonable condition.
An HSV includes the following information:
- The property's general
condition
- Any significant
defects, in accessible parts of the property, which may
affect its value
- Urgent and significant
matters that need assessing before entering into
exchanging contracts including recommendations for any
further specialist inspections
- Results of any testing
of walls for dampness
- Comments on damage to
timbers including woodworm or rot
- Comments on the
existence and condition of damp-proofing, insulation and
drainage (although the latter will not be tested)
- The recommended
reinstatement cost for insurance purposes (the
anticipated costs of re-constructing a building in the
event of damage by an insured risk eg fire). This is not
the same as the market value of the property
- The value of the
property on the open market
An HSV is not a detailed
survey of every aspect of the property and focuses only on
significant and urgent matters. It's not suitable for many
properties which are more than 150 years old, those in need
of renovation or that you are planning to extend.
