RICS Homebuyer Report
Why should I get a survey?
The Royal Institution of Chartered Surveyors (RICS) reports that the average repair bill faced by homebuyers after they move into their new home is £5,750.
By getting a RICS Home Survey you, the buyer, can make a more well-informed decision about buying a property and reduce the risk of unexpected problems and costs arising later. In addition to offering advice about the property’s condition, the report also includes a “Matters for legal advisers” section which highlights any areas of the property that may have required regulatory approval (building regulation, planning permission or similar).
It’s worth remembering that your legal adviser will not normally visit the property and may therefore not be aware of alterations or other work that has been carried out. This can also help you to avoid problems in the future if you wanted to sell or refinance the property.
- The RICS HomeBuyer Report is recommended on properties up to roughly 100 years old and of standard construction.
- We can offer the report with or without a market value and reinstatement cost (insurance rebuild cost).
- The report can also be a useful negotiation tool and can help to plan future maintenance and expenditure.
- Most conveyancers and consumer protection organisations (including Which and The Council of Mortgage Lenders) recommend an independent home survey before you commit to buying a property.
What can I expect from the service?
We will inspect the property and compile the report. The RICS HomeBuyer Report is a standard format and we only use the fully licensed version, which is widely considered to be the best available.
The report methodically covers the key elements of the property, bringing all relevant matters to your attention, including making recommendations for further investigations if needed. The report sections are rated using a traffic light system (red, amber, green) so that you can quickly see which issues are critical.
Why Choose Portland Surveys?
As independent RICS accredited surveyors we are committed to giving you clear, unbiased, expert advice. We aim to give you all of the information you need to make a fully informed decision about purchasing a property. We want to make this part of the buying process as straightforward and stress-free as possible.
You will have the opportunity to speak to your surveyor before they visit the property to discuss any particular concerns you might have. The surveyor can also call you after the inspection to provide their initial feedback before the written report is completed.
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