RICS Homebuyers Report with Valuation
- The RICS Homebuyer Report with valuation is a ‘level two’ survey report.
- The RICS Homebuyer Report with Valuation is always carried out by an RICS registered valuer.
The report is specifically designed for home buyers buying a conventional house, flat or bungalow which was built from the late Victorian period (late 1800’s) onwards and is in reasonable condition. It provides details of problems that the surveyor considers may affect the value of the property and/or details on defects that are considered serious enough to require repair or further investigation and identifies any risks/potential legal issues. The report also includes a ‘Red Book valuation’ – a market valuation based on the RICS Professional Standards/mandatory practises for providing valuations. It also includes an insurance reinstatement figure for the property.
The RICS Homebuyer Report with Valuation will help you to make an informed decision on whether to go ahead with buying the property, what is a reasonable price to pay for the property and to consider what further advice you should take before committing to purchase the property. The report is usually completed within 5 working days of the inspection, is approximately 20 pages in length and is laid out and designed in a reader friendly, standardised format. It uses simple ‘traffic light’ ratings to clearly identify the condition of the key elements of the property.
The report provides far more detail on the property than a mortgage valuation/standard RICS market valuation but is not as in-depth as an RICS Building Survey.
For Leasehold property it also includes an advice sheet and what assumptions are made in regard the lease, freehold and rights of way. If the remaining lease term is a concern/raised as an issue by the surveyor we are able to provide lease extension advice including assessing the likely cost of a lease extension under The Leasehold Reform Act 1993 under separate instructions.
We are very happy to provide further, more detailed information including e-mailing survey information sheets and even a sample report if required.
Additional information can be found on the RICS website – visit www.rics.org/homesurveys
To book an appointment for properties in Kent please contact our Head Office on 01732 752099 or for properties in London on 020 80579890 or by e-mail to firstname.lastname@example.org