Homebuyers Report - Survey on properties condition
The homebuyer report is a service paid for by the consumer to gauge the condition of a property before purchase. The homebuyer report service involves a surveyor visiting the property and inspecting it, the surveyor will only inspect those areas of the property that are reasonably accessible or easily visible. Then the surveyor will then write a report on the property condition, as well as performing a basic valuation on the property which is used with the mortgage application.
Homebuyers Report Survey Example
The cost of the report can vary (between £250 and £500) but the content should cover these basic points:
- General condition
Covers the interior and exterior of the building and the properties local vicinity. - Defects or positive attributes
Emphasis on any particular features that may affect either the present value, or the ability to resell or re mortgage. - Maintenance recommendation
Draw attention to work needed either immediately or in the relatively near future to the building. - Issues needing legal guidance
Any matters with the property that should be discussed with the customers solicitor. - Misc matters to be taken into account
The surveyor will mention anything that they feel is helpful and constructive. - Basic valuation
The properties current market value.
Information
A homebuyer's report can usually be arranged by the consumers mortgage lender in conjunction with the valuation report. If there is a wish to instruct a surveyor separately, this can be a cheaper option. You can find a whole host of surveyors on the web or in any local directories and they are easy to find and use.