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Home Buyers Report

£460.00 GBP
£460.00 GBP
Sale Sold out
Tax included.

Please note, final prices may be subject to change

The Home Buyers Report is ideal for properties that are a conventional house, flat or bungalow, built from common building materials from 1920 onwards and in reasonable condition. The Home Buyers Report includes:

  • Clear 'traffic light' ratings of the condition of different parts of the building, services, garage and outbuildings, showing problems that may require varying degrees of attention;
  • A summary of the risks to the condition of the building
  • Advice on replacement parts guarantees, planning and control matters for your legal advisers;
  • A list of problems that the surveyor considers may affect the property;
  • Advice on repairs and ongoing maintenance;
  • Issues that need to be investigated to prevent serious damage or dangerous conditions;
  • Legal issues that need to be addressed before completing your purchase such as Solar Panels and;
  • Information on locality, local environment and the recorded energy efficiency (where available).

Where required, a Home Buyers Report can include a Valuation aspect which will include:

  • The surveyor's professional opinion on the 'market value' of the property;
  • An insurance reinstatement figure for the property;
  • A list of problems that the surveyor considers may affect the value of the property;

All surveys are priced based on the size and type of property, as well as your requirement. Please contact us for a quotation.

FAQs

Is there a difference between a mortgage valuation and a Home Buyers Report?

Yes. A mortgage valuation is instructed by the mortgage company, to assess whether the valuation of the property is sufficient enough to cover the cost of the loan. A Home Buyers Report is an inspection of the internal and external elements of a property. This will help the home buyer to understand the potential issues that may need to be rectified in the future. This type of survey is usually recommended for properties built after 1900.

Do I need a Home Buyers Report if I have had a Valuation carried out?

Yes. This will be of benefit to the buyer to ensure that they are aware of any problems or defects with the property before they commit to buying it. A valuer will not be searching for defects during their survey and is under no obligation to report back to the buyer about any of their findings.

What are the benefits of having a Home Buyers Report?

This is the only way to investigate the condition of the property beyond what is seen on the surface, even if the property appears to be in reasonable condition. Defects such as damp, subsidence and timber decay are not always apparent and could be expensive to rectify once the buyer has taken ownership. The report will give the buyer an indication of the additional time and money needed in order for the property to be safe and comfortable and will allow the buyer to make an informed decision whether they are prepared to follow through with the sale.

Do sellers have to reduce the price if the survey identifies issues?

Some buyers use the Home Buyers Report in order to renegotiate the sale price by asking for a discount up to the value of the expected repair costs. Some sellers will not reduce their price, but it is important to note that they are under no obligation to do so. It is then up to the buyer on how they wish to proceed.

What are the risks of not getting a Home Buyers Report?

According to the RICS (Royal Institution of Chartered Surveyors), 25% of the home buyers who do not have a Home Buyers Report carried out are forced to carry out unplanned works to the property after purchase, usually costing £1000's in the first year.