RICS Homebuyers Report

A home is the most expensive purchase most people ever make. As an owner you will benefit from expert advice on the condition of your property – whether you plan to live in it, rent it out or sell it.

 

In an RICS Home Survey an RICS member conducts an in-depth visual inspection of the property. Their report provides an expert account of the property’s condition and highlights any problems in clear and easy to understand ‘traffic light’ ratings.

Different homes require different types of survey. In line with new RICS Professional Guidance UK there are now three levels of service in the RICS Home Surveys suite:

Survey level one: RICS Condition Report

Shows the condition of the property, offers guidance to legal advisors and highlights any urgent defects. Typically the lowest priced of the surveys, it is aimed at conventional properties and newer homes.

Survey level two: RICS HomeBuyer Report

Includes all the features of the RICS Condition Report, plus a market valuation and insurance rebuild costs. It also includes advice on defects that may affect the value of the property with repairs, and ongoing maintenance advice.

Survey level three: RICS Building Survey

Essential for larger or older properties, or if you’re planning major works. The most comprehensive report provides you with an in-depth analysis of the property’s condition and includes advice on defects, repairs and maintenance options.

Contact us on 01234 364 000 to discuss which level of service best suits your circumstances

A valuation is not a survey

Owning a home is not without risk. Getting a survey from an RICS member will help highlight any problems that could lead to expensive surprises later.

A survey should not be confused with a mortgage valuation report. The mortgage valuation will give your mortgage lender assurance for its loan. It will not give you an assessment of the condition of the property, or advice about repairs and maintenance.

According to a recent survey of home buyers, of the one in four who relied solely on a mortgage valuation report, 25% needed to undertake unplanned work in the first year, amounting to an average cost of over £1,100 (RICS/GfK NOP Business research).

Be prepared with an RICS Home Survey

Having a survey conducted by an RICS member will give you:

• Peace of mind that you know the property and the risks it may carry
• Confidence that you can make an offer that reflects the true circumstances of the property (e.g. how an owner maintains its condition or how a vendor protects the sale)
• Reassurance that your surveyor is delivering a high quality, reliable and cost-effective service based on RICS standards of practice
• A clear understanding of your property thanks to a report written in plain English with simple colour-coding to illustrate the surveyor’s findings.

By commissioning an RICS Home Survey you can feel assured that the service you receive is impartial and reliable.