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The RICS Home Buyer Report Alan McNaughton Independent Property Consultant Alan McNaughton Dip. Est. Man., MRICS – Chartered Surveyor and RICS Registered.

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Presentation on theme: "The RICS Home Buyer Report Alan McNaughton Independent Property Consultant Alan McNaughton Dip. Est. Man., MRICS – Chartered Surveyor and RICS Registered."— Presentation transcript:

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2 The RICS Home Buyer Report Alan McNaughton Independent Property Consultant Alan McNaughton Dip. Est. Man., MRICS – Chartered Surveyor and RICS Registered Valuer

3 The RICS Home Buyer Report The report aims to help buyers: make a reasoned and informed decision on whether to go ahead with buying the property; make an informed decision on what is a reasonable price to pay for the property; take account of any repairs or replacements the property needs and consider what further advice should take before exchanging contracts

4 The RICS Home Buyer Report make a reasoned and informed decision on whether to go ahead with buying the property; The Home Buyer Report includes sections for comments on issues that buyers are not usually aware of including risks, hazards and statutory compliance as well as condition and value.

5 The RICS Home Buyer Report make an informed decision on what is a reasonable price to pay for the property; The Home Buyer Report includes the surveyors opinion of the current market value of the property at the date as inspected. It comments on matters that may affect value if not dealt with. Alan McNaughton is a member of the RICS Valuers Registration Scheme

6 The RICS Home Buyer Report take account of any repairs or replacements the property needs; The Home Buyer Report includes condition ratings, and professional advice and comment, on elements of the property which identify the most important issues, and whether defects are serious or urgent

7 The RICS Home Buyer Report consider what further advice should take before exchanging contracts The Home Buyer Report flags up particular points which should be referred to the buyers legal adviser. Where appropriate recommendations for further investigations are included but only where conclusions cannot be reached within the limitations of the HBR Service.

8 The RICS Home Buyer Report A mortgage valuation is not a Home Buyer Report: A mortgage valuation report is prepared for the buyers lender, not for the buyer. It answers only the questions about whether the property is suitable security for a loan. It cannot be relied upon to answer questions that the concern the buyers own interests or give details of the condition of the property.

9 The RICS Home Buyer Report Benefits to buyers are: Possibly enable renegotiation of agreed purchase if unknown issues flagged up before legal commitment to purchase Allows reflective thought and may prevent an expensive mistake being made If purchase proceeds the buyer has an understanding of the property to assist in its future occupation and enjoyment Legal status of the buyer remains caveat emptor LET THE BUYER BEWARE!

10 The RICS Home Buyer Report Value for money - competitive fees Peace of mind Professional representation for the buyer Independent assessment for YOU!

11 The RICS Home Buyer Report BOLTON 1 Chorley New Road Bolton BL1 4QR BLACKBURN 15 Cunningham Court Blackburn BB1 2QS AVAILABLE THROUGHOUT GREATER MANCHESTER AND LANCASHIRE Mobile and 24 hour answerphone: Regulated by RICS


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