May 13, 2019

The HomeBuyer Report

RICS HomeBuyer Report (Without Valuation)

A HomeBuyer Report includes all of the features of the Condition Report but also extends to a more thorough inspection of the property by a chartered surveyor to help identify any unforeseen issues. This will include checking the condition of any woodwork in the property, checking for damp, assessing the insulation, and flagging any major faults. The surveyor will only review accessible areas of the property, however, and will not view beneath floorboards, inside walls or into crawl spaces.

As well as a report on the condition of the whole property, provided in an easy-to-view traffic-light system for different levels of problem, the HomeBuyer Report provides advice on specific defects and what one-off repairs and ongoing maintenance you might need to carry out in the future.

A RICS HomeBuyer Report without valuation starts at £525 + VAT

RICS HomeBuyer Report (With Valuation)

The HomeBuyer report is also available with a professional valuation. This provides insurance rebuild costs, highlights any potential effect on the value of the property caused by defects, and provides an overall assessment of the market value of the property. This can be particularly useful if it suggests a value significantly lower than your offer, especially if this is the result of a defect that you were previously not aware of. If you choose to negotiate with the vendor as a result, a professional survey by a RICS surveyor is a valuable tool in demonstrating why a defect might justify a reduction in the price of the property.

A RICS HomeBuyer report with valuation starts at £575 + VAT.

A HomeBuyer Report, with or without valuation, is ideal for a property where you might have concerns due to its age or visible signs of problems like damp, or where you plan to undertake some smaller-scale building work after moving in.