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The new RICS Homebuyer Report (Survey)

Thursday, July 14, 2016

RICS Home Surveys services are being extended on the back of member and industry feedback.

There are updates to RICS Home Surveys supporting documentation and surveys of residential property guidance note. These notes have been prepared to assist members and support staff in implementing the new RICS Homebuyer Report (Survey) (HBRS) and updates to RICS Home Surveys (RHS) which are shortly to go live.

Summary

RICS Home Surveys services are being extended on the back of member and industry feedback to include a new option to provide a HomeBuyer Report without a valuation emphasising the message that “a valuation is not a survey” and bringing the Level 2 service in line with the Condition Report (Level 1) and Building Report (Level 3) as a survey-only service.

The current RICS HomeBuyer Report which includes a valuation as standard continues to be popular with members and clients and so will remain. Along with the new HomeBuyer Report (Survey), Condition Report and Building Survey the supporting documentation has been updated where relevant to accommodate updated advice on consumer cancellation rights and liability caps.

The RICS guidance note Surveys of residential property has also been updated to accommodate this advice.

For more information visit our RICS Homebuyer Report page