What is a Homebuyer's Report?

What is a Homebuyer's Report?

Ray Boulger (Mortgage Advisor) gives expert video advice on: What is a Homebuyer's Report?; What is stamp duty and how much is it?; Is there anyway that I can avoid paying stamp duty? and more...

A Homebuyer's Report is produced in a standard format, provides a lot more information than a basic mortgage valuation and in many cases will be quite adequate as opposed to having a full building survey. Typically it will cost about 250 to 300 pounds more than a basic mortgage valuation, but will provide the buyer with a lot of information which wouldn't be included in the basic mortgage valuation, which means either you're going to have some information on some defects in the property, which will help you to negotiate a reduction in the price perhaps, or if it shows up no defects, you've got the comfort of knowing what you're buying is in good condition.