The homebuyers report is a required part of the homebuyer process. It also serves as a useful tool for you to make up your mind about buying the property that the homebuyers report entail. You will need the services of a conveyancer who can make Moving home made simple. The latest developments on conveyancing, mortgages and surveys can be found on the link. They will help you through the process to a successful conclusion. What does the homebuyers report provide?
The report will look at the home and what is wrong with it. Hopefully there won’t be anything. Even then it won’t be able to access every area of the property. It all depends on where the surveyors can actually access when they visit the property. The Homebuyers report is known as a level 2 survey. A third level is available for a truly thorough search. This can be costly but it is a very good idea if the property is old or you intend to renovate it.
What you get in the level 2 is;
- Some background information on the location of the property plus its history.
- What the cost would be to rebuild it if it is destroyed (mainly for insurance)
- A test to see how effective the damp-proofing, insulation and drainage are (the drains themselves are not included.
- How the timber and woodwork is holding up.
- If there are any collections of damp in the walls.
- Any issues that need to be dealt with immediately or in the near future. This may affect the house price. This also includes any major issues that are in the property affecting it now.