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RICS Homebuyer Survey Reports Yorkshire, Leeds Chartered Surveyors

What Is A Homebuyer’s Survey?

A major part of the home buying process is having a homebuyer’s survey (or a homebuyer’s report) conducted. This is a report carried out by a building surveyor that draws attention to any defects or faults in a property.

A homebuyer’s report is conducted in a standard form that has been created by the Royal Institute of Chartered Surveyors. It has been designed in a concise, standardised format and is intended for homes that are:

  • Conventional in type or construction
  • In apparent reasonable condition

The Value Of A Homebuyer’s Survey?

A homebuyer’s report focuses on the essentials of a property, identifying defects and problems that have an immediate effect on its value.

They allow the purchaser to make a reasoned and informed judgement on whether or not to proceed with the acquisition, as well as identifying what actions and decisions should be made before the purchaser enters a legally binding contract.

Most will be familiar with a mortgage valuation survey, which is compulsory for those who want to take out a mortgage. A mortgage survey confirms the worth of the property for security purposes; they do not identify anything that is wrong with the condition of the property.

Although having a homebuyer’s survey is not compulsory, you are strongly advised to have one carried out on a property before its acquisition. A homebuyer’s survey can often be used as a valuation that is accepted by mortgage lenders.

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