RICS HomeBuyer Reports
RICS surveyors offer two forms of survey that are specifically designed to help home buyers. These are a building survey and the RICS HomeBuyer Service.
THE RICS HOMEBUYER SERVICE
The RICS HomeBuyer Service includes an inspection, a report and a valuation, and these are all explained in detail in the ‘Description of the RICS HomeBuyer Service’ the surveyor will give you. The RICS HomeBuyer report is a standard format, and is different to a building survey in three main ways.
- It is designed for particular types of home. These are houses, bungalows and flats that: – are of a traditional type and construction; and – are apparently in reasonable condition.
- It identifies what the surveyor considers to be the most important issues. By applying condition ratings to elements of the building, the services and any garages and permanent outbuildings, the surveyor will tell you whether defects are serious or urgent.
- It also includes the surveyor’s opinion of the market value and reinstatement cost (which you will need for insurance purposes). It focuses on matters that, in the surveyor’s opinion, may affect the value of the property if they are not dealt with.
The report also includes other valuable information.
More information
This information is reproduced from an RICS document entitled “Choosing between surveys”.
There is also more information available in an RICS document entitled “Description of the RICS HomeBuyer Service”.
Ely Langley Greig make available their residential Terms of Engagement. This is the agreement a client will be asked to sign prior to Ely Langley Greig undertaking work.