Hammond & Shaw are a well established firm of Chartered Surveyors in South Devon, offering Mortgage Valuations, HomeBuyer Surveys and Building Surveys for properties in Exeter, Newton Abbot, Plymouth and the surrounding area. With a wealth of experience in residential property surveying, our directors have built up a reputation for excellence and professionalism in all our dealings.
What is a HomeBuyer Survey?
A HomeBuyer Survey is a detailed inspection and report designed by the Royal Institution of Chartered Surveyors (RICS) to provide prospective buyers with important information regarding the condition of a property they are thinking of purchasing.
The Report produced is written in user friendly and jargon free English, making it a valuable document to help you;
- Make an informed decision on your property purchase
- Discover and budget for any urgent or major repairs to the building
- Consider if any other advice should be sought prior to exchanging contracts
- Gain peace of mind in knowing all salient information about the property
- Use the survey findings as a factual basis to enable you to renegotiate the purchase price
As a Level 2 mid-range survey, the RICS HomeBuyer Survey is not as comprehensive as the Level 3 RICS Building Survey. The report is compiled on the basis of a non-intrusive building inspection, meaning our surveyors won’t be able to look under floor coverings or other concealed areas, drill holes or conduct any other invasive methods of investigation.
Is a HomeBuyer Survey right for my property?
The RICS HomeBuyer Survey is the most popular report requested by property buyers. It is aimed at conventional properties that are in a reasonable state of repair.
- Modern buildings and standard older buildings constructed within the last 100 years
- Properties of conventional design
- Homes built with traditional construction methods
- Buildings that are in good overall condition
If the property you are planning to buy is and older or listed building, has undergone major alterations or extensions in the past, or you are planning to carry out extensive refurbishments and alterations, a HomeBuyer Survey is unlikely to be the right survey. We would strongly advise you to consider a Building Survey instead.
What is covered by a HomeBuyer Survey?
The purpose of a RICS HomeBuyer Survey is to provide advice on any defects that may affect the value of the property in question, along with our professional recommendations for repairs and ongoing maintenance. Specifically, the features of the HomeBuyer Survey include:
- Any serious defects and urgent repairs such as structural movement, damp and timber defects
- Clear and concise colour coded condition ratings for each part of the building, including outbuildings and services, making the report easy to understand
- Any further investigation the surveyor considers necessary
- Any issues which need to be referred to your legal advisor
- Current market valuation and advice on whether the agreed purchase price is reasonable
- Highlights of decisions and actions to be taken before contracts are exchanged
For friendly, professional advice regarding your prospective property purchase and the suitability of a HomeBuyer Survey, please contact the team at Hammond & Shaw by telephone 01626 335008 or email firstname.lastname@example.org. As a RICS regulated firm of Chartered Surveyors with a wealth of residential property experience in South Devon, we are looking forward to being of service.
Read our blog on the top three myths about property surveys.