RICS HOME BUYER SERVICE

With effect from 31 March 2010 the old Home Buyer Service (HSV) will be withdrawn and replaced by the RICS Home Buyer Service (HBR).

If you are a home owner you may be familiar with the Home Buyer Service which can only be provided by surveyors that hold an obligatory license issued by the Royal Institution of Chartered Surveyors.

The HBR introduces improvements to the clarity and style of the Home Buyer inspection and reporting process aimed at providing a user friendly report.

Drew Pearce are able to provide this service which is offered to home purchasers along with the option of a traditional Building Survey. The HBR is designed for particular types of home. These are houses, bungalows and flats that:-

- are of a traditional type and construction; and

- are apparently in reasonable condition.

It is generally accepted that the service is not suitable for pre Victorian (1900) or listed buildings, where we can offer a Building Survey instead.

The new RICS Home Buyer Service is an economical service because of the practical limits on the type of property to which is suitable and the cover of service. The HBR is therefore competitively priced. It is more expensive than a mortgage valuation but cheaper than a Building Survey. Very seldomly will customers be able to say that the service has not given good value for money.

The service includes an

• Inspection

• Report; and

• Valuation

The inspection includes the inside and outside of the property, the services where visible including gas, electricity, plumbing, heating and drainage. The condition of boundary walls, fences and permanent outbuildings and gardens are also included in the inspection and report.

The surveyor undertaking the inspection will also consider such issues as dangerous materials, contamination and environmental issues.

Where necessary the surveyor will recommend the need for specialist investigations, particularly when asbestos containing materials are suspected to be present within the property.

The main changes, and improvements, in the HBR Service is the report format. Condition ratings are given to the main elements of the property and these will help the purchaser make an informed decision as to any future repairs and maintenance liabilities using illustrative colours in an easy to read format.

Many purchasers will rely on the report to confirm what is a reasonable price to pay for the property. The inspecting surveyor will give their opinion on the market value of the property and the reinstatement cost at the time of their inspection, which can often assist in ensuring that you purchase the property at the right price.

After reading this hopefully you will be in no doubt that it will be money well spent if you decide to have a HBR when you purchase your next home.

If you would like to discuss your survey requirements further, or maybe would like a detailed description of the service available, then please contact us on 01392 201748 or via our website www.drewpearce.co.uk and speak to either Martyn Burnett or John Murrin of our Building Surveying team.