Jargon Buster

Homebuyers' report
The Homebuyers' Survey is an essential aspect of purchasing any new home (most suited to conventional houses and flats in reasonable condition). Fully qualifies RICS surveyors carry out a detailed inspection of a property and highlight any potential issues that will affect the decision to buy or not to buy

Rising damp
Rising damp is a condition caused by ground moisture rising up a masonry wall by capillary action. It occurs where there is no damp-proof course or where the damp-proof course has been damaged or bridged. Where present, moisture can rise up the wall to a height of a metre and it will often leave a characteristic horizontal 'tide mark'

Penetrating damp
Penetrating Damp is caused by moisture penetrating through the roof or walls. Causes of penetrating damp are usually very evident and is normally caused by damaged guttering or roof flashing.

Subsidence
Structural movement caused by land movement or errosion

Woodworm
The term woodworm encompasses many species and families of beetles whose larval or adult forms eat and destroy wood

Condensation
Water vapor that naturally condenses on cold surfaces into liquid water is called dew. Water vapor will only condense onto another surface when the temperature of that surface is cooler than the temperature of the water vapor

Rainwater fittings
Property guttering and downpipes

RICS
Royal Institution of Chartered Surveyors

Freehold
The definition of freehold is the entitlement to hold a property with a perpetual right. There is no limit of time to hold the property like in the case of leasehold property. A freehold property lies with the title holder unless they transfer it of their own accord

Leasehold
The definition of leasehold is the right to hold or use the property for a fixed period of time at a given price, without transfer of ownership, on the basis of a lease contract. A leasehold is a fixed asset

Reinstatement cost
Valuation provided for insurance purposes

Market Value
Valuation given at the time of inspection