Home Survey Standard- What is it?
The traditional RICS Condition Report, Homebuyer Report and Building Survey have been replaced by the RICS Home Survey Standard.
The recent changes are to help consumers understand the survey process in further detail and seek to eradicate confusion.
What does this mean for people requiring a survey?
The new RICS Home Survey Standard will increase consistency, transparency, and competency across residential surveying in the UK.
The new standard aims to deliver not only increased clarity to the process but more open communication which will greatly benefit property transactions and will make sure clients fully understand the process, the different levels of surveys and what is included in each one, and how to get the level they need.
The new standard and reports offer many benefits, including:
- The ability to highlight survey findings in a way that is easily understood by a traffic light condition rating system;
- A clear report structure;
- An impartial assessment of a property from RICS, updated to adhere to the Home Survey Standard and ensures that maintains the benchmark for best practice;
- A new design and name to make it easier for the consumer to understand;