Home Buyer Report

An RICS home buyer report saves you time and money in the long run. Research from the Royal Institution of Chartered Surveyors (RICS) indicates a stunning reality, in which UK property buyers are having to pay on average £5,750 for unforeseen repair costs on their new homes. Hidden issues in the property such as dampness, subsidence and cracks can be revealed through a home buyer report, saving you time and money.

A home is the most expensive purchase most people will 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 Buyer report,  a chartered surveyor conducts an in-depth visual inspection of the property. Our survey provides an expert account of the property’s condition and highlights any problems in clear and easy to understand ‘traffic light’ rating. Different homes require different types of surveys which are explained below.

RICS Condition Report

Shows the condition of the property, offers guidance to legal advisors and highlights any urgent defects.

RICS Home Buyer Report

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

market valuation is the process of valuing a real property at its market value, which is the estimated amount for which an asset or liability should exchange on the valuation date between a willing buyer and a willing seller in an arm’s length transaction, after proper marketing and where the parties had each acted knowledgeably, prudently and without compulsion.

The current reinstatement cost of a property is: the cost of rebuilding an average home of the type and style inspected to its existing standard using modern materials and techniques, and by acting in line with current Building Regulations and other legal requirements. This will help you decide on the amount of buildings insurance cover you will need for the property.