Glossary · UK
What is Homebuyer Report?
A mid-level property survey that assesses a home's condition and flags significant defects, helping buyers make an informed decision before purchase.
Full Definition
A Homebuyer Report is a standardised property survey, commonly the RICS Level 2 survey, carried out by a qualified surveyor for someone buying a home. It is more detailed than a basic mortgage valuation but less thorough than a full structural (Level 3) building survey. The report inspects the visible and accessible parts of the property, identifies notable defects such as damp, subsidence signs or roofing issues, and often rates problems by urgency using a traffic-light system. It is best suited to conventional houses and flats in reasonable condition; older, unusual or heavily altered properties may warrant a fuller survey. The cost is paid by the buyer and varies with property size and value, so obtain quotes rather than relying on a fixed figure. This matters because the report can reveal repair costs before exchange, support price renegotiation, and help avoid expensive surprises -- a key step alongside arranging a mortgage and budgeting for Stamp Duty.