Homebuyer Report
The RICS Homebuyer (Survey & Valuation) Service includes a detailed inspection of the main property both externally and internally including all permanent outbuildings and includes a Valuation and Insurance reinstatement figure. The insurance reinstatement figure is normally required to obtain adequate building insurance on the property.
The Homebuyer Service is a standard format and is designed specifically as an economy service. It therefore differs materially from a Building Survey in two major respects.
It is intended only for particular types of home
Houses, flats and bungalows which are:
- Conventional in Type and Construction
- Apparently in Reasonable Condition
It focuses on essential items
Defects and problems, which are urgent or significant and which may have an effect on the value of the Property - although it also includes further valuable information on the properties condition.
The Surveyors main purpose in providing the Service Is to assist the prospective homebuyer to:
- Make a reasoned and informed judgement on whether or not to proceed with the purchase.
- Access what would be a reasonable purchase price for the Property.
- Be clear what decisions and actions should be taken before contracts are exchanged.