Home Buyers Report

When buying a property it is important to make sure that everything is as it seems to be, after all this is probably the biggest single purchase any of us is likely to make. When you have found and agreed to purchase your dream home it is time to think about getting the right professional help at the right price.

Many house buyer rely upon the mortgage valuation report to highlight any problems there may be with the property, however the valuation report is not designed to do this and in many instances is not disclosed to the purchaser. According to a recent RICS survey 1 in 4 buyers relying solely on a mortgage valuation report, of these 25% end up with unplanned work in the first year amounting to an average cost of over £1,100.

The RICS Homebuyer Report is designed as an economical user friendly report with the minimum of technical jargon and has a colour coded Condition Ratings usually referred to as the ‘Traffic Light System’. Our surveyors will rate each element of the property using one of the following condition ratings:

Condition Rating 1 (green)
- No repair is currently needed. The property must be maintained in the normal way.

Condition Rating 2 (amber)
– Defects that need repairing or replacing but are not considered to be either serious or urgent. The property must be maintained in the normal way.

Condition Rating 3 (red)
– Defects that are serious and/or need to be repaired, replaced or investigated urgently.

The surveyors main purpose in providing the service is to help you:

• Make a reasoned and informed decision on whether or not to go ahead with 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.

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 rating for elements of the structure of the building, the services and any garages and permanent out buildings;
• Particular points you should refer to your legal advisors;
• 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)

Starting from £250 plus VAT we offer Homebuyers Reports for all properties and it could be the wisest money you have ever spent.

If you are interested please contact us on 0161 928 1903 or complete our contact form.