The RICS Homebuyers Report is a service carried out to a standard format, approved by The Royal Institution of Chartered Surveyors (RICS), which is suitable for all properties built within the last 100 years, are of a conventional construction and in a habitable or reasonable condition.
A HomeBuyer Report focuses on matters that in the surveyor’s opinion may affect the value of the property if they are not addressed and includes the following information;
- The property’s general condition. By applying condition ratings to elements of the building, the services and any garages and/or permanent outbuildings, the surveyor will inform you whether defects are serious or urgent.
- Any significant defects found within accessible parts of the property, which may affect it’s valuation.
- Urgent and significant matters that need assessing before entering into an exchange of contracts, including recommendations for any further specialist inspections.
- Results of any testing of walls for dampness.
- Comments on visually apparent damage to timbers including woodworm or dry and wet rot.
- Comments on the existence and condition of damp proofing, insulation and drainage (although the latter will not be tested)
- The market value of the property taking full consideration of the conditions identified with the report.
- The recommended reinstatement cost for insurance purposes (the anticipated costs of re-constructed a building in the event of damage by an insured risk e.g. fire, flood, storm damage etc.). This should not be confused with the market value which may differ.
- Any other advice you need to take before exchanging contracts.