RICS Homebuyer Report
The RICS Homebuyer Survey and Valuation report is the industry standard report and is specifically designed to offer advice on the condition of the property, significant and urgent repairs likely to affect the value of the property and provides a valuation and insurance reinstatement figure. The reader friendly format of the report provides a condition rating for every element of the property including outbuildings and services. It also provides advice as to matters which the conveyancer might want to address.
The importance of getting a home survey
Choosing the right survey
This is the entry level valuation report for properties which appear to be in reasonable condition and where the proposed purchaser is essentially looking for peace of mind. It will report on any significant items which would affect the Market Value or resale potential of the property i.e. damp or structural movement but will not go into detail on minor repairs. Speak to one of our valuation team who will advise whether this is appropriate for the age and type of property you are hoping to purchase.
Valuations for lending purposes
We are approved panel members for a number of banks and building societies. It is possible with some lenders to upgrade the basic mortgage valuation report to a Homebuyer report as part of your mortgage application. This can result in a cheaper fee than arranging two separate reports.
Valuations for probate, tax and financial planning/asset management purposes
Property assets often require valuation for tax, financial planning and asset management purposes. Such valuations should be carried out by a Chartered Surveyor with the relevant experience of the particular asset type. This often includes a retrospective valuation. You should note that fees associated with formal valuation advice can be off-set against the value of the estate.
Valuations for matrimonial/civil partnership proceedings
When things go wrong it is a difficult time for both parties, so the services of a friendly sympathetic local surveyor who knows the area and its property values well can assist in negotiations concerning the biggest asset a couple can have-their home.
Expert witness valuations for court proceedings
Our surveyors can act as Expert Witnesses, either appointed by one of the parties or frequently as single joint experts in a range of circumstances where valuations are required for litigation purposes. This can assist the parties to reach a settlement in court proceedings.
Energy Performance Certificates (EPC)
An EPC is required when a property is built, sold or rented. An EPC must be ordered for potential purchasers and tenants before a property is marketed for sale or to rent. The EPC contains information about a property’s energy use and typical energy costs together with recommendations about how to reduce energy and save money. An EPC gives a property an energy efficiency rating from A (most efficient) to G (least efficient) and is valid for 10 years. We can provide a suitable certificate for existing residential dwellings.
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