If you are buying or selling a conventional and well-maintained property that is of traditional construction. Such as houses, flats or bungalows, then you will require a Homebuyer report.
These reviews are solely focused on the home’s condition and, whilst they do not contain as much detail as a building survey, they will identify any risks or defects to be raised with a legal adviser. The RICS (Royal Institute of Chartered Surveyors) regulated surveyor, who completes this report, will also provide a series of condition ratings for different sections of the building.
These inspections are carried out on both the interior and exterior elements of the property, highlighting any complications that, in some capacity, require further investigation or repair. Unlike a building survey, however, the homebuyers report will also comment upon what the property is worth. More specifically, the surveyor will provide an assessment of the home’s ‘Market Value’, based on his expertise and knowledge.