When we carry out a Survey for a client, whether we are providing a Homebuyer report or a Building Survey, the standard of inspection is exactly the same.
The principal difference between the two report forms is the level of detail reported back to the client. Homebuyer Reports are considered satisfactory for particular types of property i.e. houses, bungalows and flats, that are of a traditional type and construction and are apparently in reasonable condition. We undertake RICS Homebuyer Reports and pay a licence fee to the RICS which allows us to produce the RICS approved report. You may notice other companies offering variations of the Homebuyer Report, usually to their own template, but these are not RICS Homebuyer Reports. A Homebuyer Report is an intermediate level report and identifies the most important issue affecting the property’s condition and value.
The Building Survey, on the other hand, is suitable for any residential property in any condition and is a detailed reported tailored to your particular needs. It is a free form document containing photographs and will give you a detailed assessment of the condition and construction of the property, along with any advice on specific problems and the works needed to rectify these problems.
Because it is a statement of condition, Building Surveys do not normally contain a valuation, although this may be provided as an agreed extra.