New Home Buyers Report
A new Home Buyers survey has been launched by RICS. The new homebuyer report is designed to provide clear, simple and easy-to-follow information about property condition.The HomeBuyer Report reflects changes in the house buying and selling process. It’s concise, user-friendly format assists homebuyers in their decision by reporting condition, value, repairs and what further advice is needed.
The report provides colour-coded condition ratings, based on the state of repair of elements of the building. A green rating indicates no repairs are necessary, whilst red points to serious defects that require urgent attention.
The Home Buyers Report still highlights issues for legal advisors and identifies risks and hazards of the property, such as structural movement, damp and timber defects. The surveyor also provides their opinion of the current market value and insurance assessment.
The original Home Buyers Survey and Valuation is being phased out at the end of the year.
Buying a house can be a complicated and daunting process. To help you we have produced a home buyers guide.
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