The Property Buying Process- What is a Homebuyers Survey?
Following on from our previous post detailing what a Building Survey is and the important role that it plays within the property buying process, we at Kutner Associates thought we should also inform you of a second survey available, in the form of a Homebuyers Survey.
This particular survey was set up by the Royal Institute of Chartered Surveyors and is designed to help those buying a newer property. Whilst the building survey is ideal for spotting problems with the structural stability of an older property, this survey is more suited to properties which seem to be in a relatively good condition.
What Does it Cover?
The Homebuyers Survey will see a surveyor explore aspects both on the inside and outside of the property, looking for any defects or problems which have the potential to cost a considerable sum of money to resolve. Anything which may affect the overall value of the property or will need to be resolved as a matter of urgency will be brought to your attention.
How Will it Help?
The simple fact that you have been made aware of any problems will ensure that you aren't faced with any nasty surprises should you proceed to buy the property. It can also help you assign tasks to the current owners that need to be completed before you initially make an offer or alternatively before you will sign any contract and set a date to move in.
Whilst you might not consider there to be much chance of problems with newer, more conventionally built properties, you could be wrong, so do you really want to take that chance? The completion of a Homebuyers Survey should always be considered as part of the process for buying a newer home, so get in touch with us today.