A survey for a property can be a condition report as the physical state of the subject property or it can be the process by which drawings and plans of the building or land are drawn up. If it is the former it could just be to ascertain the value of the property (valuation survey) or could be to give a detailed condition report of the property.
This ‘Glossary of Terms’ – those commonly used in the realm of property auctions, is monitored and updated regularly to remain a current reference point.
If there are any terms that you have come across which we have not included here and you are unclear about, please do get in touch and we will be happy to provide you with a clear explanation and add the new term to our list.
For more information on buying or selling at a property auction, have a read of our guide to buying at auction.