Homebuyers’ Reports – what are they and why are they important?01/06/20
If you are about to buy a new home, you should have it thoroughly checked out by a qualified Chartered Surveyor first, to make sure you are not making an expensive mistake.
Your new home is likely to be one of the most significant purchases you ever make so you should make sure you know everything you can about the condition of the property before you enter into a contract to buy it. A RICS Homebuyer Report can reveal many issues that may not be clear to you but can be picked up by a qualified surveyor.
If a problem is disclosed and you still want to go ahead with the purchase you will be in stronger position to negotiate a fair price. If you are selling a home, a survey can help secure the agreed price or identify any remedial work you need to do before putting the house on the market.
There are three levels of HomeBuyer Reports.
Level 1 Condition Report
This is suitable for conventional homes, built from common building materials and in apparently good condition. It details the building’s condition and lists potential issues and how serious they are and includes a risk summary, building control, planning issues and guarantees for your solicitor.
Level 2 Homebuyer Report
This provides much more extensive information on the property’s condition and includes a valuation and advice on issues to investigate.
Level 3 Building Survey report
Recommended if you are buying an older property or one that is in poor condition or if you are planning major structural renovations or additions, this provides even greater detail than the Level 2 and reports on a very wide range of issues, including an outline of repair options.
Whichever level is right for you, a HomeBuyer’s Report is worth having as it can identify any number of potentially expensive pitfalls in a property, saving you money, time and stress. Get an instant quote for your Report here.