THE WEST SUSSEX PROPERTY BLOG // CUTTING THROUGH THE JARGON OF A HOMEBUYERS REPORT
Cutting through the jargon of a Homebuyers report
Paperwork and jargon come hand in hand when buying or selling property and some of it is easier to decipher than others! One of the documents is the HomeBuyer Report, which is basically a survey detailing the state of the property you are about to buy. The cost of having one of these is around £400, but can save you money in the long run and some use it as a tool for further negotiations.
This will give you an accurate account of the property’s condition and will highlight any problems that you may want to consider rectifying before you proceed any further with the purchase.
Rightmove’s very own property expert Miles Shipside has shared some top tips for understanding this document and what it is telling you, here in this article...
He said: “A HomeBuyer Report is a much more detailed inspection than the standard mortgage valuation, which is for the lenders to make sure they are lending on a suitable mortgage security.
“It gives a buyer peace of mind if nothing major is found wrong, and forewarning if there are defects a buyer may not have been aware of"
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