What is a Property Survey (RICS Homebuyer Service)?
A. A Property Survey (RICS Homebuyer Service) comprises an inspection of the property and a concise report based on the inspection. It is designed specifically as an economical service intended for houses, bungalows and flats which are conventional in type and construction and apparently in reasonable condition. The report is in a standard format and focuses on defects and problems which are urgent or significant which may have an affect on the value of the property. It provides not only a survey but also a valuation and reinstatement cost assessment. Q. Is it a legal requirement to have a Property Survey (RICS Homebuyer Service) report done? A. No, there is no legal requirement to have a Property Survey (RICS Homebuyer Service), however, if the applicant is applying for a mortgage it should be noted that a Mortgage Valuation report is purely for the lender and cannot be relied upon by the mortgage applicant. It is still therefore advisable and prudent to arrange a survey by your own s
