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Homebuyer Reports

RICS HomeBuyer Service

 

The RICS HomeBuyer Service includes an inspection, a report and a valuation, and these are all explained in detail in the ‘Description of the RICS HomeBuyer Service’ the surveyor will give you. The RICS HomeBuyer report is a standard format, and is different to a building survey in three main ways.

 

  1. It is designed for particular types of home. These are houses, bungalows and flats that:
    • are of a traditional type and construction; and
    • are apparently in reasonable condition.

  2. It identifies what the surveyor considers to be the most important issues. By applying condition ratings to elements of the building, the services and any garages and permanent outbuildings, the surveyor will tell you whether defects are serious or urgent.

  3. We can also include the surveyor’s opinion of the market value and reinstatement cost (which you will need for insurance purposes).
    It focuses on matters that, in the surveyor’s opinion, may affect the value of the property if they are not dealt with (additional charge for valuation).

The report also includes other valuable information.

What else should I know about the RICS HomeBuyer Service?

 

It is an economical service. Because of the practical limits on the type of property and what the service covers, the RICS HomeBuyer Service is priced mid-range – more expensive than a mortgage valuation, but cheaper than a building survey.

 

The surveyor’s main purpose in providing
the service is to help you:

 

  • make a reasoned and informed decision on whether or not to go ahead with buying the property;
  • make an informed decision on what is a reasonable price to pay for the property;
  • take account of any repairs or replacements the property needs; and
  • consider what other advice to take before exchanging contracts (if the property is in England, Wales, Northern Ireland, the Channel Islands or the Isle of Man) or concluding an offer (if the property is in Scotland).

 

The report covers the inside and outside of the building, the services and the site and includes:

 

  • details of the general condition and particular features of the property;
  • condition ratings for elements of the structure of the building, the services and any garages and permanent outbuildings;
  • particular points you should refer to your legal advisers;
  • specific risks associated with the property;
  • other relevant considerations – for example, the location, the local environment and the energy performance of the property (if this information is available).

Any defects that the surveyor considers do not need repairing or replacing, or any minor matters that do not affect the value of the property, are generally not included in the report.

 

If you have a particular requirement that you would like the surveyor to consider, you should discuss this with the surveyor before they provide you with the service.

The main features of the RICS HomeBuyer Service are
compared below with the features of a building survey.

RICS HomeBuyer Service

Building survey

Type of

property

Traditional houses, flats, bungalows and so on, in apparently reasonable condition

Any residential or other property,
in any condition

Type of service

 A shorter, less detailed report in a
standard format

 A detailed report that is tailored
to suit your needs

Aims of service

To help you:

 

  • make a reasoned and informed decision on whether to go ahead
    with buying the property;

  • make an informed decision on what
    is a reasonable price to pay for the property;

  • take account of any repairs or replacements the property needs; and

  • consider what other advice you need
    to take before exchanging contracts

To give you:

 

  • a detailed assessment of the condition and construction of the property; and

  • technical advice on any problems and work needed to put them right

Special features

Provides condition ratings for elements of the building, services and any garages and permanent outbuildings

Provides full details of the property’s construction, materials, uses, defects,
and need for future maintenance

Valuation

Included as part of the
RICS HomeBuyer Service

May be provided as an agreed extra

Form of report

RICS HomeBuyer Report which
is a compact, standard format

In the surveyor’s own format and usually longer, more detailed and technical than the RICS HomeBuyer Report

Useful links

Robin Austin Surveyors

Suite 6

Chatmohr Business Park

Crawley Hill

West Wellow

ROMSEY

Hampshire

SO51 6AP

Southampton Property Assoc