What is a HomeBuyers Report?
HomeBuyer Survey and Valuation
The Royal Institution of Chartered Surveyors has designed the Homebuyer Survey and Valuation report to provide a prospective purchaser with basic information in a standardised format. It includes details of:
- General condition and form of construction.
- Significant factors which might influence or affect value.
- Market value.
- Valuation for insurance.
Information is provided in a simple, straightforward form, easy to read and understand. It has recommendations for ‘action’ clearly stated.
Inspection is limited to those parts of the building that can be reached safely and easily using a 3m (10 ft) ladder. It includes inspection of boundaries, outbuildings and overall visual inspection of services. It does not include examination of inaccessible parts or testing of services.
Key defects will be identified. It is important to appreciate that the surveyor is not required to provide advice on repair or to comment in detail.
Although the Homebuyer Report and Valuation is suitable for many dwellings built after 1920, its simple format is not usually satisfactory for large houses or those that are unusual by virtue of design or construction. It is also not suitable for those that have been converted, extended, altered significantly or are Listed Buildings.