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    Property Condition

    Property Survey

    Professional inspection of property condition

    Full Definition

    Property surveys assess a building's condition before purchase. Types include RICS HomeBuyer Report (medium detail, £400-600) and Building Survey/Full Structural (comprehensive, £600-1,500). Surveys identify defects, estimate repair costs, and can support price negotiations. Essential for older properties or those with visible issues.

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    More Property Condition Terms

    Leasehold

    Ownership of property for fixed term from freeholder

    Freehold

    Outright ownership of property and land

    Lease Extension

    Adding years to a leasehold property's remaining term

    Refurbishment

    Renovating property to improve condition and value

    Forced Appreciation

    Increasing property value through improvements