The HomeBuyer Report

Not to be confused with the 'old style' HomeBuyers Report, this newly designed survey is intended to give the client a fairly standardised format of survey that advises them on the financial validity of their investment.

This means that the focus is on highlighting matters concerning the subject property which could negatively affect its value. By doing so, the client can make an informed decision about whether to go ahead with the purchase, negotiate the price or pull out altogether. Crucially, that means that this is not considered to be a form of 'building survey' and the detail is substantially less than that of the Major Elements Survey, House Purchase Survey report, or Full Building Survey. Whereas those surveys will advise you with in-depth comment on the cause of defects and the best ways to resolve them, the Homebuyers will typically only highlight the issues and further reports, at further expense, are often required.

Nevertheless, this type of report certainly has a place in the market and can be very cost-effective for modern properties. It comes with a market valuation as standard; a useful addition to make sure you don't pay over the odds. That said, all clients must be wary of its limitations:

The Royal Institution of Chartered Surveyors (RICS), the body who created the report, specify in their Practice Note that:

The service applies to houses, bungalows and flats that are conventional in type and construction and are apparently in reasonable condition.

It goes on to state that the building should be of "Victorian to present day construction". No surveyor, therefore, should offer the HomeBuyer survey on older or more complex properties, or properties with evident defects.

If your requirement involves a property outside this definition, you should seek an alternative survey. Many surveyors will advise against such a report on all but the simplest modern 'box' of a property, if the client is serious about the purchase.

Still unsure? Click on the link to find out more about each survey, as written by a qualified Chartered Surveyor:

• Full Building Survey (formally known as the Full Structural Survey)
• House Purchase Survey Report
• Homebuyers Survey
• Major Elements Survey
• RICS Condition Report
• Mortgage Valuation
• Independent Valuations (Matrimonial, Probate etc.)
• Schedule of Condition

If you have further questions about the types of survey available or would be interested in booking a survey, go to the 'contact us' page and speak with one of our Chartered Surveyors.