One of the most prevalent issues that Chartered Surveyors from our Canterbury panel come across when inspecting residential properties in Canterbury is building defects, planning disputes, and utility problems. 

Yet, only around one in five property buyers in Canterbury thinks to get a Chartered Survey report before making a purchase. The potential use of such a report to identify defects in a property—whether the property in question is listed, situated in a conservation area, or is just your average Canterbury building—continues to be vastly underutilised.

The RICS HomeBuyer Report has some really significant benefits. When you choose a property, you consider many different aspects, but if you really want to know the important details about a property’s physical condition, the report is of good standard. 

HomeBuyer overview: the HomeBuyer Report has two basic parts. The first part is an online desktop check. The second part is about the property’s condition. This is what the HomeBuyer Report covers. If there is any dampness in the place that you’re thinking of calling home, for example, you’ll know about it from the report.

“Traffic light” assessments: it provides three ratings that signal to you the property’s condition, using red, yellow, and green as indicators of how well the property fares in its inspection.

Market Valuation: your surveyor also provides a market valuation. For an additional fee, you can also have an RICS-registered surveyor do a more in-depth market valuation for you that assures what price you should pay based on the property’s current condition and the local market. These two components are very important if you are buying with marital or familial issues in play, as the report ensures you an accurate assessment of the property’s value in writing.

Reinstatement Cost Assessment: after you provide us with the necessary details, our panel of valuers will determine the amount it would cost to fully rebuild your property. This valuation will allow you to procure the necessary insurance that will cover you and your assets. 

Identification of Risks: your solicitors will look for potential problems that could lead to unnecessarily decreased property value. Should your surveyor find anything, we will inform you of the issue. 

Negotiating: typically, your inspection period gives you the chance to negotiate any remaining issues that affect the property’s structure, systems, or health and safety performance, as revealed by the inspection. If the inspection report uncovers serious deficiencies, you can use the information to leverage a price reduction, have the seller (or builder, in the case of a new home) make the requested repairs, or walk away from the prospect altogether. 

Peace of Mind: your investment in an RICS HomeBuyer Report assures you peace of mind that comes with knowing the condition of the property into which you’re investing a significant amount of money.”

Mortgage approval: certain mortgage lenders insist that a property survey conducted by a recognised organisation, such as CIOB, RPSA or RICS, be submitted as part of the mortgage application. If you’re applying for a mortgage to buy a property, the lender may insist on a property survey before they will approve the mortgage. The RICS HomeBuyer Report is acceptable to these lenders and qualifies as a property survey. 

Long-term savings: although it costs money to have a property survey done, doing so can lead to long-term savings to you as the homeowner.

Professionalism: RPSA, CIOB and RICS Chartered Surveyors have the expertise required to assess property accurately, and this means they are good at spotting trouble when it comes to evaluating a home’s condition. They have good professional judgment as they are trained to exercise. 

If you have a Chartered Surveyor inspect a property for you, you can trust that they will let you know if they see any potential problems—be it because of something they might anticipate happening with the property in the near future or something that is currently happening but might be more serious than what the seller has been disclosing. If you find a property that truly interests you and you have the cash or financing lined up to make an offer, you want to consider, first and foremost, whether you should get a HomeBuyer Report from a Chartered Surveyor.