A valuation report estimates a property's market value, often for a mortgage lender, and usually does not provide a detailed assessment of its condition. A building survey is a more thorough inspection for the buyer, covering visible defects, structural concerns and possible maintenance issues, although its scope depends on the surveyor and property. A lender's valuation is not a substitute for an independent survey, and arranging one may help you understand potential repair costs before proceeding. Check the report's scope and the surveyor's qualifications, and seek professional advice if significant problems are identified.