RICS HomeBuyer Report – Avery & Co. Surveys
If you are buying a home, you should have a survey done before you enter into a contract. A survey can actually save you money. If there are problems, you can often re-negotiate the sale price of the property to reflect the cost of necessary repairs or you may decide you don’t want to buy it at all.It is important to remember that your mortgage lender’s valuation report is not a survey. It merely tells your lender whether or not the property is reasonable security for a loan.
A home survey will tell you the actual condition of the property. That’s vital information that can be invaluable during price negotiations and will also help you avoid expensive surprises after you’ve moved in.
The RICS Homebuyer Report is an intermediate level survey report which is designed for a conventional house, bungalow or apartment built from common building materials and in reasonable condition.
The Benefits of an RICS HomeBuyer Report
The RICS HomeBuyer Report is a clear concise document which include ‘Traffic Light’ ratings of the condition of different parts of the building, services, garages and outbuildings, showing problems that require varying degrees of attention. For example if there is a defect which is serious or needs to be investigated urgently, the surveyor may give that element of the property a ‘Red’ rating. The RICS HomeBuyer Report also summarises the risks to the condition of the building and occupiers which are noted by the surveyor during inspection. It also covers other matters such as guarantees, planning and building control and issues for your legal advisor. There is also a maintenance tips sheet available to accompany your report.
The RICS HomeBuyer Report provides advice on repairs and maintenance and any issues that need to be investigated to prevent serious damage or dangerous conditions. It provides information on location, local environment as well as the recorded energy efficiency rating from the Energy Performance Certificate (where available).
The RICS Homebuyer Report is now available with or without a valuation. If a valuation is required, this will be undertaken by a qualified RICS surveyor who is also a Registered Valuer under the RICS Valuer Registration Scheme. It will also include a rebuilding cost for insurance purposes. However, many people do not require a valuation and are mainly concerned about the condition of a property, or have already had a mortgage valuation undertaken by their lender. In such cases Avery & Co. can offer a HomeBuyer Report (Survey Only) without a valuation at a significantly reduced cost.
Why use Avery & Co?
Avery & Co. have a team of fully qualified locally based surveyors who specialise in the production of residential surveys and valuations within their own particular locality. All of our surveyors undertake surveys and valuations on residential property on a daily basis. As well as working for private individuals we also carry out work on behalf of major banks, building societies and mortgage lenders. All of Avery & Co.’s surveyors are Registered Valuers under the RICS Valuer Registration Scheme. Avery & Co. are also accredited with ISO 9001 Quality Assurance and are regulated by the RICS which means that we work to the highest level of professional standards. All of our team are happy to offer friendly and professional advice about a property and we encourage good communication with all of our clients and customers to ensure peace of mind and confidence in the service they receive.
For further information on the RICS HomeBuyer Report or any of our services, please contact us by telephone or complete the attached form and one of our team will be happy to help.