Chartered Surveyors London

WHAT’S A HOMEBUYER SURVEY?

A Homebuyer Survey is recommended in the following cases:

  • The building you want to buy is listed
  • You have some specific concerns about any aspect of the property
  • You are unsure about the property’s condition
  • You want to buy an unusual or old property
  • The property you are buying is timber framed or has a thatched roof

The type of survey you choose will depend on your budget and how detailed you want the survey to be.

A Homebuyer Survey will include the same details as a Condition Survey Report, but will also report any problems or defects that the property may have. It will also provide repair and maintenance recommendations.

We can help you ensure that the property in London you are purchasing is accurately priced, and help reduce the risk of any issues that may crop up in the future.

Obtain Your RICS Homebuyer Report Survey From London Chartered Surveyors

A Homebuyer Survey is designed to help you in the decision-making process of whether to buy a property or not. It is based on the in-depth information that is included in the survey. You will find it useful to help you assess whether the asking price you for the property you are looking to buy is acceptable, as well as reducing the risk of finding unexpected problems and costs further down the road.

The Benefits Of A RICS Homebuyer Survey

There are many benefits to obtaining a RICS Homebuyer Survey form London Chartered Surveyors. Firstly, it will identify any serious issues or defects inherent to the London property you want to purchase, and any legal issues that may need addressing by your solicitor. A RICS Homebuyer Survey also provides guidance on any maintenance issues that may arise in the future, so that you can make informed financial decisions, based on the information reported in the survey.

A RICS Homebuyer Survey will also provide you with a market valuation, so you can make a decision on whether if the price you intend to pay is fair and reasonable, in addition to a reinstatement value for insurance purposes. The reinstatement value is how much it would cost to rebuild your property, in a worst-case scenario where the property is destroyed, for example, by fire.

Why Should I Request A Homebuyer Survey?

A Homebuyer Survey is a truly worthwhile investment because it can put your mind at ease when buying a property in London, especially if the property is more than 50 years old, even if it appears to be in a reasonable state of repair. Obtaining a Homebuyer Survey can also assist you if you need to negotiate a lower price for the property you plan to buy, as you will know what you will have to spend on any necessary maintenance costs.

A Homebuyer Survey completed by London Chartered Surveyors will also provide you with an opportunity to bargain with the vendor over the price of the property, or ask them to carry out any repair works that are considered necessary before you complete the sale.

Most Homebuyer Surveys do detect some issues or defects, especially when they are conducted on an older property (over 50 years old). London Chartered Surveyors are always willing to look at the report with you and explain any implications the survey’s findings may have on your purchase.

WHEN WOULD I NEED A HOMEBUYERS SURVEY?

A Homebuyer Survey is especially valuable if:

  • The building you want to buy is listed
  • You have some specific concerns about any aspect of the property
  • You are unsure about the property’s condition
  • You want to buy an unusual or old property
  • The property you are buying is timber framed or has a thatched roof

IF I ALREADY HAVE A MORTGAGE VALUATION REPORT, DO I STILL NEED A HOMEBUYER SURVEY?

The Council of Mortgage Lenders advises that buyers who are getting, or who may even have a mortgage valuation report, would be wise to get a detailed Homebuyer Report that has been arranged by their own surveyor. This is because the mortgage valuation report isn’t intended for you, it’s intended to be used by the lender.

A mortgage valuation report is generally prepared by a bank or building society. It doesn’t go into as much detail as a Homebuyer Survey; it is just a report comprising maybe 1 or 2 pages in length, so it is not a survey as such.

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THE HOMEBUYER SURVEY & VALUATION

The Homebuyer Survey is a document that is generally 15-20 pages long and concisely describes the condition of the property. The survey conducted will examine the inside and the outside of the property. It typically provides a clear explanation of any problems or defects such as floors, ceilings, roofs and walls, damp course, rainwater and other items such as joinery, windows and chimneys, etc.

For a small extra fee, we can also value a property for you. If this is a service you are interested in please contact us for a free, no-obligation quote.

IF YOU WANT THE ASSURANCE THAT A RICS HOMEBUYER SURVEY PROVIDES, CALL US TODAY ON 020 7205 4534