Homebuyers could soon enjoy better protection against purchasing properties with major faults because surveyors want to make “confusing” buyer reports easier to understand.
Anyone buying a home can have the condition of the building checked by paying for a homebuyer’s survey.
Under the present system, buyers can end up purchasing homes with undiscovered problems because they assume that the survey will check for faults that it is not designed to look for. Some don’t even order a survey because they believe that problem checks are included in the mortgage valuation.
There are many different types of surveys available, all offering different types of check.
- The condition report, which is the lowest, will unearth any major issues.
- The homebuyer’s report is more thorough, but still comparatively limited.
- The building survey, or structural survey, is the most comprehensive and will check between floors and behind walls.
For example, the condition report is intended for newer homes and typical houses while the building survey covers older or more unusual properties.