The Homebuyer survey & valuation (usually called ‘The Homebuyer service’)
By contrast, The Homebuyer service is in a standard format and is designed specifically as an economy service. It therefore differs materially from a building survey in two major respects.
It is intended only for particular types of home: houses, flats and bungalows which are:
1. Conventional in type and construction
2. Apparently in reasonable condition.
It focuses on essentials: defects and problems which are urgent or significant and thus have an effect on the value of the property ­ although is also includes much other valuable information.
The Homebuyer unlike a building survey, provides not only a survey but also a valuation as an integral part of the service.
What else should I know about the Homebuyer service?
The Service ­ the inspection, the report and the valuation ­ are all explained in detail in the accompanying description of the homebuyer service, but the highlights are:
This is an economy package. Because of the practical limits on the type of property and on the scope of its coverage, The homebuyer service is priced mid-range ­ more expensive than a mortgage valuation, but less than a building survey.
The surveyor’s main objective in providing the service is to assist the prospective homebuyer to:
1. Make a reasoned and informed judgment on whether or not to proceed with the purchase
2. Assess whether or not the property is a reasonable purchase at the agreed price
3. To be clear what decisions and actions should be taken before contracts are exchanged.
The surveyor also gives his or her professional opinion on the particular features of the property which affect its present value and may affect its future resale.