Homebuyers Survey and Valuation Report
To download a PDF of the Homebuyers Survey and Valuation Report click here
Before buying a flat or house only 20% of homebuyers choose to get professional property survey carried out. But doing so could save you a lot time, money and disappointment, after all your home is going to be the largest investment you will make in your life – so you should do it properly.
Once your lender has done their basic valuation, which gives their advice on the value of a property and is often carried out by a valuer rather than a Chartered Surveyor you can choose from one of two of surveys.
Your First option is the the Homebuyers Report
This is ideal if your property does not clearly require any renovation or if you do not want to do any significant alterations to it. However, if it does require renovation or the property is more that 75 years old then a Building Survey (Structural Survey) would be more appropriate.
About the Home Buyers Report
The RICS HomeBuyer Report was Introduced by RICS (Royal Institution of Chartered Surveyors) in 2009 and is designed to be as user friendly and with as little technical jargon as possible. The most helpful aspect to the format is the traffic light system in which lets you know what type of defects are present. Green lets you know where no repairs are needed, Amber is for non-serious issues and red is for urgent defects. The format also allows the surveyor to add photographs to the report.
Other areas that are covered by the report include:
• the property market value
• the condition of the property
• permanent outdoor buildings and roofing, pipes, gutters, walls
• major faults that are in accessible parts of the building
• a damp test in the walls
• timber damage such as rot or woodworm
• a repair or rebuilding estimate for an insurance company
For a full details go here PDF or link to this website RICS
Your Second option is the Building Survey or full Structural Survey