Homebuyer Surveys
The Homebuyer Survey was designed by RICS and is a briefer version of the Building Survey,
The RICS Homebuyer Report is designed as a mid-range cost effective report that is suitable for relatively modern (post 1900) property and uses a traffic light style condition rating for elements of the building. The survey and report is more detailed than a mortgage valuation, which simply checks, for the benefit of the lender, that the building is worth the amount you are asking to borrow for it.
If the property is old or dilapidated, it will require a more detailed and thorough Building Survey.
The Homebuyer Survey will detect if a serious problem is uncovered during the survey. As problems are rated in terms of seriousness on the report, this will provide you with a good idea of how much work needs to be done on the property and which issues are most urgent.
As with all surveys, the price of a Homebuyer Survey will depend on the size and value of the house for which a fixed fee quotation can be offered.
The Homebuyer Survey Includes:
- An inspection of the major indoor features like ceilings, roof, walls, floors, bathrooms and woodwork.
- An inspection of permanent outdoor buildings and the outside of the home including roofing, pipes and gutters, walls, windows and outside doors.
- The report rates the main areas in terms of condition; a rating of three (red) means the area is in need of urgent repair and rating one (green) means no action is needed.
- An inspection of the visible parts of the heating and drainage systems as well as the electric, gas/oil and water services.
- The report will identify areas that you will need to consult a legal advisor to investigate further.