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The mid range survey report now overhauled to be more user friendly
Most people when buying a property rely on the brief Valuation report prepared for the Lender, but the Lender's Handbook giving guidance to your Solicitors advises that the Valuation report should not be relied upon by the borrower and that you should get your own more detailed survey. The reason is that the Lender's valuation is far too brief, very superficial and gives inadequate information for the buyer.
Therefore the aim of the HomeBuyer Report is to provide buyers with all the basic information they need on condition and value before they commit to purchase. The Report is designed for most modern and Victorian properties and includes comment on all visible sections of the house or flat. It gives a simple traffic light condition rating for elements of the building so that you know where the action is before you buy, in an easy to understand format. You also get a market valuation that indicates whether the property you are buying is good value for money plus a reinstatement cost figure for insurance purposes. For more information from RICS on "Choosing between Surveys" please click here.
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