TDD Guidance Note 1st ed Flashcards
What is covered within the TDD guidance note?
Types of inspection – acquisition, occupation, disposal, development
Taking instructions
The inspection – areas to consider:
- H&S
- Enquiries on site
- Building fabric
- Building services
- External areas
- Fire precautions
- Accessibility
- Deleterious materials
- Sustainability
- Legal and title issues.
The report – layout and general guidance
What do you understand by the term TDD?
Consists of the systematic review, analysis, discovery and gathering of information about the physical characteristics of a property and/or land.
The surveyor provides an impartial and balanced professional assessment which enables the prospective purchaser, occupier or financier of the property to make an informed assessment of the risks associated with the transaction from a technical perspective.
What is the purpose of a TDD survey?
Gaining understanding of condition of property
Establishing suitability for intended use
Understanding the need for and quantity of future costs for repair and replacement
Providing a basis for price negotiations
Providing a basis for risk allocation
What are the types of inspection?
acquisition (including financing or refinancing)
occupation and operation
disposal (vendor due diligence) and
refurbishment or development.
How might a survey for acquisition differ from a survey for occupation?
An occupation survey would look at
- repair required prior to occupation
- negotiation of lease liability terms e.g. for repair and reinstatement
- secure capital contribution or rent free period
What should you do prior to accepting an instruction?
Establish that no conflicts of interest exist
Undertake anti-money laundering checks
Confirm in writing:
- Services to be provided
- The contracting parties
- Limitation that apply to advice
- Fee
Carry out a risk assessment including clarify known hazards with client.
Confirm standard terms of engagement
