RICS HomeBuyer Report
The RICS Homebuyers Report is independent of any survey for a lender and it includes a valuation. The Homebuyer Report is a survey that is suitable for conventional properties in reasonable condition. Your Homebuyer Survey will identify any defects and how severe they are through an easy-to- use coding system. This will help you make a smart and informed decision about purchasing the subject property. When problems are discovered, you can use this to renegotiate your purchase price. The main purpose of the RICS Homebuyer Report is to give you the information you need to decide whether you should proceed with purchasing the property. We are happy to offer post-survey customer support by email or by phone.
What and Why?
The report will also give you an accurate valuation so that you know whether or not you are paying the market value for the property. The format of the report is laid out by the RICS to outline any major defect(s) and whether or not these defect(s) affect the value of the property. It will clearly spell out whether any action needs to be taken before you exchange contracts.
The RICS Homebuyer Survey and Report works well for simple, traditional type properties that appear to be in reasonably good condition and included in the report will be a determination of the market value. It pinpoints what the Surveyor determines to be the most vital issues. Defect(s) are identified by using a rating system highlighting the severity of the defect.
Individuals buying normal types of houses or flats may think that paying for a HomeBuyer Survey is just one more expense added to all the necessary costs. However the HomeBuyer Report provides buyers with very useful information at an affordable cost. Buyers should not rely on just the lender’s valuation because it will not reveal numerous issues and defects.