A homebuyers survey, also called homebuyers to report, is the most common type of property survey available and can be used on many different property types. It allows homebuyers to find and document any problems in a property that could cause damage and require future repairs. For example, it can be problems with moisture, leaking roof, cracks in the walls of the building, problems with the electrical installation, presence of asbestos, lack of required certifications, etc.
What type of survey do I need for my property?
Three main types of residential surveys from RICS are RICS Condition Report, RICS HomeBuyer Report and RICS Building Survey.
RICS Condition Report is the most basic type of survey. It describes the condition of the property, identifies any risks, potential legal issues and highlights any urgent defects. A condition report is most suitable for people looking to buy a standard, modern property that is in good condition, and want to confirm that everything looks okay.
RICS HomeBuyer Report is the most popular type of survey, is conducted by an RICS qualified surveyor, who carries out a detailed visual inspection of the property. It allows you to clearly see the property’s condition and any areas of concern. The report lists any problems that might affect the property’s value and the surveyor’s advice on repairs and ongoing maintenance.
RICS Building Survey is the most comprehensive home survey, ideal for older properties, or if you’re planning any major works. It will give you detailed advice on defects, repairs, and maintenance options.
How much does it cost?
The cost of the survey depends on a few factors such as location, property type, and property age. Contact us, and we will be able to help you with your enquiry.
- RICS Condition report starts from £250 on average
- RICS Homebuyers Report starts at £400 on average
- RICS Building Survey it starts at around £600 and more
What happens if your survey finds a problem?
Most surveys will usually find some sort of issue, especially if you’re buying an older property. Some of the most common things you might want to investigate are:
- Issues with the roofing
- Central heating
- Structural problems which may need an engineer
What to do if you find any of these issues? Contact the seller and ask how much it might cost to fix these issues, get a quote from a professional for major works or renegotiate the asking price. You can also ask the seller to fix the issues before you complete on the sale.
Do I need a HomeBuyer Survey?
It may not seem like it, but a homebuyer survey is one of the most important parts of a property purchase. Skipping it could be taking a huge risk with the home you’re buying. Whichever type of survey you choose, it could save you thousands of pounds.
- Helps you identify any glaring issues of the property
- Finds smaller problems and tells you how much they’d cost to fix
- Gives you a chance to renegotiate the price
- Gives you complete peace of mind
Not sure which survey you should choose?
We can help you make the right decision and organize everything. By choosing the right survey, you will get the answers you need, which will help you decide whether to back out, go ahead, or renegotiate the deal on your property.
Please do not hesitate to contact us if you have any questions regarding Homebuyer Surveys or our services. Our mortgage specialists will be happy to help and explain every detail.