What does 'Drive by Survey' mean when buying a property?

Find out what Drive by Survey means when you are buying a property. 'What does Drive by Survey mean?' plus over 150 other property related terms and jargon in plain English

Drive by Survey

Also known as a "Drive By Valuation"

Where the buyer is providing most of the funds for a property purchase the mortgage provider may not need a physical inspection of the building. Instead they will just want to check that the property exists and so the surveyor will simply visit the site where you claim you are buying. This is known as a "drive by survey".

It is not quite, however, the "drive by" it implies. The surveyor will usually do a basic inspection of the outside of the building using binoculars if needed. They will be looking for anything such as major problems on the roof or wall cracking which might suggest subsidence.

Any issues, in short, which could have such a major impact on the property's value that no matter how little you are borrowing, the lender will be at risk.

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How to Really Buy a Property

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Chapter 17: The Property Buying Process in Theory

"... the status becomes 'survey booked' The surveyor may either have been instructed to go into the property or just to drive by and make sure it exists (known as a drive by survey). That someone has a trained eye for spotting problems in buildings. The lender, to some extent, is not..."

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Drive by Survey

What's in the 2022 edition .....

Why buying property is right for some and wrong for others;
The state of the market today;
What Brexit and Covid 19 means to the future of UK property;
How the media have become unreliable indicators of the market;
Who makes good quality predictions for the property market (and who doesn't);
How the market works over the short term and the long term;
The difference between property bubbles and property booms;
Why it can be a good idea to buy when prices are falling;
The principles of buying a property to let and what the text books don't tell you;
Ways to get on the property ladder when it looks impossible;
How professional buyers and investors work with estate agents to get better deals;
Why you should see as many Financial Advisors as possible;
What to do before you start viewing so you don't lose your dream home;
Who the surveyor, solicitor and estate agent are really working for;
How to make an offer to get things your way;
Who to trust and who, with the best intentions, may be misleading you;
Why you should work to minimise the time between offer agreed and exchange;
Making sense of a property survey including:
- What type of survey to get and why structural surveys can be money wasted;
- Why surveyors should never estimate the cost of works;
- When rising damp, penetrating damp, subsidence, cracking, sagging roofs, bulging walls and all the other frightening things in a surveyor's report might be serious, and when they are not;
- Why asking the vendor to carry out work is not always a good idea.
Step by step guides explaining what should be happening, what can happen, and how to solve mole hills before they become mountains;
Over 140 terms in an easy to use glossary so the jargon of the property industry can be understood;
20 true stories of successes, and disasters, that real people experienced when buying a property.

.... and what's not in the book ...

Continuous commentary banging on about how great property is and that it is the only place to put your money!
Recommending businesses that I get kickbacks from.
Rewording and republishing what is available freely from most websites anyway.
Endless tales of how easy it is to buy property and profit.
Attempts to sell you some course or other product.
Blank pages and spaced out text to make the book seem bigger.