Homebuyer Report
A Homebuyer Report is a type of building survey.
Building surveys are a means of providing a detailed evaluation of a property’s condition. They may also be prepared for individual homeowners, home buyers, or for investors in property portfolios to help inform future investments.
HomeBuyer Reports were introduced in 2009, and follow a format specified by the Royal Institution of Chartered Surveyors (RICS). They are sometimes referred to as a Homebuyer Survey.
They are one of three types of survey specified by the RICS, that can be undertaken by RICS Chartered Surveyors:
- Condition Report. The lowest cost option, describing the condition of the property and highlighting any urgent defects.
- HomeBuyer Report. The most common survey, providing more detail regarding the condition of the property.
- Building Survey. The most comprehensive report, intended for larger or older properties, or where major works are being planned, and providing an in-depth analysis of condition and advice on defects.
Homebuyer Reports are intended for conventional, newer homes in reasonable condition. They are not exhaustive studies, but should identify major or urgent issues as well as areas that might be investigated further.
They can be useful for identifying problems or providing reassurance about the possible purchase of a home, and can provide useful information for negotiations, which might result in a reduction of price, or the vendor undertaking repairs.
There are two types available:
- HomeBuyer Report (survey). This includes all the features of the RICS Condition Report and provides advice on defects repairs, and ongoing maintenance.
- HomeBuyer Report (survey & valuation). This includes all the features of the HomeBuyer Report (survey) and also provides a market valuation and insurance rebuild costs.
However, home surveys have been criticised for containing a number of exclusions, such as areas that it was not possible to access, as well as caveats that mean they do not always give the reassurance that was being sought.
[edit] Related articles on Designing Buildings Wiki
- Building survey.
- Condition Report.
- Consumer Code for Home Builders.
- Energy Performance Certificate
- Ecological survey.
- Ground investigation.
- Home information pack.
- Home report.
- How much does it cost to sell my home.
- Investment Property Databank (IPD).
- Property valuation.
- Reservation agreement.
- Site appraisals.
- Site surveys.
- Soil survey.
- Surveyor.
- Vendor survey.
[edit] External references
Featured articles and news
Amendment to the GB Energy Bill welcomed by ECA
Move prevents nationally-owned energy company from investing in solar panels produced by modern slavery.
Gregor Harvie argues that AI is state-sanctioned theft of IP.
Heat pumps, vehicle chargers and heating appliances must be sold with smart functionality.
Experimental AI housing target help for councils
Experimental AI could help councils meet housing targets by digitising records.
New-style degrees set for reformed ARB accreditation
Following the ARB Tomorrow's Architects competency outcomes for Architects.
BSRIA Occupant Wellbeing survey BOW
Occupant satisfaction and wellbeing tool inc. physical environment, indoor facilities, functionality and accessibility.
Preserving, waterproofing and decorating buildings.
Many resources for visitors aswell as new features for members.
Using technology to empower communities
The Community data platform; capturing the DNA of a place and fostering participation, for better design.
Heat pump and wind turbine sound calculations for PDRs
MCS publish updated sound calculation standards for permitted development installations.
Homes England creates largest housing-led site in the North
Successful, 34 hectare land acquisition with the residential allocation now completed.
Scottish apprenticeship training proposals
General support although better accountability and transparency is sought.
The history of building regulations
A story of belated action in response to crisis.
Moisture, fire safety and emerging trends in living walls
How wet is your wall?
Current policy explained and newly published consultation by the UK and Welsh Governments.
British architecture 1919–39. Book review.
Conservation of listed prefabs in Moseley.
Energy industry calls for urgent reform.