Why you need home buyers surveys and reports |
The RICS HomeBuyer Report, a type of property survey recommended for home buyers, replaced the Home Buyer Survey & Valuation in March 2010, having run alongside it from July 2009. The HomeBuyer Report (HBR) is an up-to-date version of the previous Home Buyers Survey & Valuation.
As of two years ago, the RICS introduced a new HomeBuyer Report without a valuation. This has the same components as the standard HomeBuyer Report, but without the valuation and reinstatement cost. It now means that RICS members do not have to be registered valuers to conduct surveys and that the market valuation part of the report is now optional - buyers who want to continue using the traditional HomeBuyers Report with the valuation can do so.
The Royal Institution of Chartered Surveyors has stated that the HomeBuyer Report is an improvement on the Home Buyer Survey & Valuation due to its more consumer friendly, streamlined format. The HomeBuyer Report was issued as a replacement for the Home Buyer Survey & Valuation.
If you have a property that is in need of renovation or that you intend to alter, we recommend you commission the more comprehensive Building Survey from a RICS Chartered Surveyor. There are a number of them all over the UK who can help you along the way in the process and to help you make the correct and most ideal choice, overall. Though this process can be expensive at times, this is also a wise choice to make and one which should be looked at somewhat as an investment also.
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