Hi Folks! Howard here. I want to clear up a misconception today. I wonder what it is? Well, let me tell you. Survey versus Home Inspection.
In the UK, for example, when you buy a home, you have a survey done to see if there are any faults in the home that you should need to know and sometimes, the seller may also be unaware of some faults.
Likewise in Florida, when buying a home the contract is your offer to purchase at the onset of first contact (Trekkie fans will like that!) with the seller. That contract, when signed within usually 2-3 days, starts a Home Inspection (like a UK Survey but more detailed). The contract says if the buyer decides within the Inspection period, of up to 15 days, at their sole discretion that if they wish to come out of the contract for ANY reason they can do so, without explanation and you will be released from the legal contract to purchase and your initial holding deposit of up to $5k will be returned immediately.
The inspection will look at the whole home and usually creates a 48 to 58 page report with faults, observations and recommendations. Then we, meaning you and me, would both look at the report to decide if you still wish to continue or to request from the seller certain identified faults to be repaired, replaced or maintained. As a UK qualified engineer I can come in handy, once in a blue moon! The cost of the inspection report depends on the size of the home but generally would be $220 to $450.
So the misconception is that UK folks in Florida believe a survey is an inspection whilst in Florida it’s an A4 piece of single paper that has a civil (not rude!!) drawing of the land and home with sizes so you know what you’re buying and where your boundaries are.