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HOMEBUYER SURVEY AND VALUATIONS
What Is It?
The RICS HOMEBUYER Service is in a standard format and is designed specifically as an economy service.
It is intended only for particular types of houses, flats and bungalows, which are:
Conventional in type and construction
Apparently in reasonable condition
What Does It Cover?
It focuses on essentials: defects and problems that are urgent or significant and thus have an effect on the value of the property. Because of the practical limits on the type of property and the scope of its coverage, the HOMEBUYER Service is priced mid-range - more expensive than a Mortgage Valuation or Valuation Report, but less than a Building Survey.
The surveyor's main objective in providing this service is to assist the prospective homebuyer to:
Make a reasoned and informed judgement on whether or not to proceed with the purchase
Assess whether or not the property is a reasonable purchase at the agreed price
Be clear what decisions and actions should be taken before contracts are exchanged.
The surveyor also gives his or her professional opinion on the particular features of the property that affect its present value and may affect its future marketability.