HomeBuyers Survey Explained
Once you have made an offer on a property which has been accepted, you should normally get a survey of the property. It will tell you numerous details about the property which you may otherwise not be aware of.
HomeBuyers Survey is one of the most popular choices amongst buyers. In this article, we will take you through all you need to know about HomeBuyers Survey.
What is the HomeBuyers Survey?
A HomeBuyers Survey report will provide a review of all the visible parts of a property. Usually, it is best for modern homes and older homes that are in decent shape and have not had any significant work done.
How much will a HomeBuyers Survey cost?
You should expect that a HomeBuyers Survey report will cost you around £350-£450.
What does the surveyor look for in a HomeBuyers Survey?
The HomeBuyers Survey report includes the following:
- Visual inspection of all main indoor features and outdoor features. This includes the ceiling, walls, roofs, and bathrooms.
- A background report on the report and the location.
- Report on insulation, drainage, and damp assessment.
- The state of building timbers.
- State of heating, drainage, and electricity connection. However, all they check if is they are working.
- An estimate of reinstatement value.
- Problems which may decrease the value of the property.
- If there are faults in parts which are easily accessible, which will require further investigation?
- Urgent problems which require immediate attention.
- The current value of the property.
What will the HomeBuyers Survey report not cover?
The report will not include the following:
- Information relating to the inaccessible parts or such parts which are not visible. They might be covered by furniture or not safe for the surveyor to access.
- State of communal areas.
- An in-depth examination of the electrical systems, gas, heating systems, or plumbing. Nevertheless, the report will include advice on what can be done is there is a suspected issue.
- State of temporary outbuildings.
- Roof spaces in blocks of flats. However, if there is a hatch, the surveyor can check those out as well.
Should you get a HomeBuyers Survey?
A HomeBuyers Survey is a good option if the property is young and is in good shape. If you are concerned about something not covered by the HomeBuyers Survey, you should check to see if the Building Survey covers it.
Click here to learn about other types of surveys.
Please note that the information provided on this page:
- Does not provide a complete or authoritative statement of the law;
- Does not constitute legal advice by Net Lawman;
- Does not create a contractual relationship;
- Does not form part of any other advice, whether paid or free.
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