Why do I need my own survey?
Because before legally committing yourself, you can obtain answers from an objective and highly experienced expert to answer the following all important questions:

• What is a reasonable price to pay for the property?
• Are there any serious or urgent defects or specific risks which you need to take into account before committing yourself to probably the biggest single investment of your life?

Arranging your own survey is the simple, cost effective way to ensure your money is spent wisely and to avoid unpleasant – and perhaps expensive – surprises after moving in.

Do I still need my own survey if I already have a mortgage valuation report?
Most certainly – this is not just our advice but that of both the Consumers’ Association ‘Which?’ magazine and also the Council of Mortgage Lenders.

Why?
Because the mortgage valuation report is prepared not for you but your lender! It answers only the lender’s questions about whether the property offers suitable security for the loan. It is
NOT a survey. You cannot rely on it to answer the questions that concern your personal interests or to give you details of the condition of the property – you may not even be provided with a copy.

What is the RICS Homebuyer Survey?
Based on a careful inspection by a Chartered Surveyor the Homebuyer Survey report will set out for you, in an easy to follow format the most important issues to consider when deciding whether to buy the property. Whether defects observed are serious or require urgent attention and if you
need further advice before exchanging contracts such as electrical wiring or timber/damp specialist inspections. The report will include an open market valuation plus the surveyor’s opinion of the reinstatement cost of the property (which you will need for insurance purposes).

The RICS Homebuyer Report is a standard format survey and is designed for particular types of homes – houses, bungalow and fl ats of traditional type and construction and in apparently
reasonable condition.

It identifies what the surveyor considers to be the most important issues. The surveyor will tell you whether defects are serious or urgent.

The Report focuses on matters that in the surveyor’s opinion,may affect the value of the property if they are not dealt with.

What else should I know about the RICS Homebuyer Service?
It is an economical service. Because of the practical limits on the type of property and what the service covers, the RICS Homebuyer service is priced mid-range – more expensive than a mortgage valuation report, but cheaper than a building survey.

The surveyor’s main purpose in providing the service is to help you to:

• take account of any repairs and replacements the property may need.
• consider what other expert advice you may need before exchanging contracts
• make an informed decision on what is the fair market value of the property bearing in mind its state and condition.

When is a RICS Homebuyer Survey not enough?
If the property is unusually built or run-down or you are planning a major conversion or renovation then a more comprehensive Full Building Survey may be more suitable for you, as this more detailed form of report can be specifically tailored to your needs.

A Full Building Survey will give you a more detailed assessment of the condition and construction of the property, as well as technical advice on any problems and work needed
to put them right.

If required it can also include a valuation of the property as an
agreed extra.

If you are interested in a Full Building Survey then we can provide you with an individual quotation, which will be based on the particular property that you are interested in.

You’re in safe hands
Each surveyor has professional indemnity insurance and there is a standard RICS compliant complaints handling procedure to give you extra protection.

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