H Is For Home Buyers Report
H O M E B U Y E R S R E P O R T
⠀⠀⠀⠀⠀⠀⠀⠀⠀
What is it, when do I need one and how much will it cost me?
⠀⠀⠀⠀⠀⠀⠀⠀⠀
In a nutshell, a HomeBuyer Report is a property health check carried out by a chartered surveyor. It will give you, the buyer, a good idea of the condition of the property that you wish to buy, along with the surveyor's take on the value of the property.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
If the inspection uncovers any problems with the property, the HomeBuyer Report should tell you how much you might need to fork out for repairs - important to know as you may then need to revisit your offer and negotiate a lower price with the seller, particularly if the report brings to light major (read expensive to rectify) defects.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
A HomeBuyer Report is not as comprehensive as a full on Structural Survey. The surveyor will only comment on any issues that are immediately visible - they won't lift carpets, inspect loft space or move furniture around.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
However, it's still a fairly detailed inspection that yields information such as...
⠀⠀⠀⠀⠀⠀⠀⠀⠀
🏠 Background info on the property and its location
🏠 A list of obvious issues such as rot, damp or subsidence
🏠 An estimate for re-building for insurance purposes
🏠 An assessment of damp-proofing, drainage and insulation
🏠 Advice on repairs and ongoing maintenance
🏠 A report on the building's timbers and any woodworm/rot
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Although HomeBuyer Reports are not a legal requirement when buying property, it's good practice to opt for one. It will give you peace of mind that the property you are buying is in good condition. And if it isn't, then the report will potentially allow you to renegotiate on price with the seller - or at the very least, budget for the repairs that are needed.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
HomeBuyer Reports typically cost in the region of £400 so be sure to factor that into your home-moving budget!
⠀⠀⠀⠀⠀⠀⠀⠀⠀
What is it, when do I need one and how much will it cost me?
⠀⠀⠀⠀⠀⠀⠀⠀⠀
In a nutshell, a HomeBuyer Report is a property health check carried out by a chartered surveyor. It will give you, the buyer, a good idea of the condition of the property that you wish to buy, along with the surveyor's take on the value of the property.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
If the inspection uncovers any problems with the property, the HomeBuyer Report should tell you how much you might need to fork out for repairs - important to know as you may then need to revisit your offer and negotiate a lower price with the seller, particularly if the report brings to light major (read expensive to rectify) defects.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
A HomeBuyer Report is not as comprehensive as a full on Structural Survey. The surveyor will only comment on any issues that are immediately visible - they won't lift carpets, inspect loft space or move furniture around.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
However, it's still a fairly detailed inspection that yields information such as...
⠀⠀⠀⠀⠀⠀⠀⠀⠀
🏠 Background info on the property and its location
🏠 A list of obvious issues such as rot, damp or subsidence
🏠 An estimate for re-building for insurance purposes
🏠 An assessment of damp-proofing, drainage and insulation
🏠 Advice on repairs and ongoing maintenance
🏠 A report on the building's timbers and any woodworm/rot
⠀⠀⠀⠀⠀⠀⠀⠀⠀
Although HomeBuyer Reports are not a legal requirement when buying property, it's good practice to opt for one. It will give you peace of mind that the property you are buying is in good condition. And if it isn't, then the report will potentially allow you to renegotiate on price with the seller - or at the very least, budget for the repairs that are needed.
⠀⠀⠀⠀⠀⠀⠀⠀⠀
HomeBuyer Reports typically cost in the region of £400 so be sure to factor that into your home-moving budget!
No comments
Leave a comment