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Letter H
Homebuyers or flat buyer's report
Carried out by a Royal Institute of Chartered Surveyors, Chartered Surveyor a
homebuyers report is a more detailed inspection of a property than a basic
mortgage valuation.
The report will consist of in excess of 12 pages and will cover all aspects of
the property such as floor walls plumbing electric roof and external decoration.
This type of report is designed to give more consumer protection.
The surveyor will not normally actually state that there is a particular problem
if he is aware of one, what he will do is advise you to contact a suitable
specialist to ascertain the extent if any of any defects he may think is evident
in the property.
This type of shopping list of faults is very important if you are not familiar
with properties and the type defects that they can have.
It is always best advice to get a full homebuyers report for the level of
information and protection that they can give.
Many lenders will offer this type of report at an additional cost and it is
advisable to get the lenders surveyor to carry it out as ultimately it will be
cheaper this way than having the necessary valuation report from the lender and
paying for an additional homebuyers report yourself. It does not limit your
protection at all using the lenders surveyor, as once you instruct him to carry
out the homebuyers report he then works for you and as such is obligated to you.
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