A Homebuyer’s Report is intended to inform you, the buyer, on the soundness or otherwise of the property, and whether it is a suitable purchase at the price agreed. It is more expensive and extensive than the basic valuation.
Approved by the Royal institution of Chartered Surveyors (RICS), this survey and valuation covers all accessible parts of the property, but is less comprehensive than a Building Survey, and the final report is shorter and more concise. The report specifies major defects and includes a roof inspection where possible, but does not detail remedial works.
Advice can be given on specific items if required, and if further specialist investigation is thought necessary this will be stated in the report. The report may also offer you some limited recourse should the surveyor (acting on your behalf, rather than the lender’s), be negligent.
Homebuyer’s Reports are most suitable for houses built during the last 80 years and up to approximately 2,000 square feet / 185 square metres.
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