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Professional negligence solicitor, Emma Slade reports the potential for HomeBuyers Report Professional Negligence
To date, there have only been three types of survey that a new home buyer can obtain: a full structural survey (FSS), a HomeBuyers survey or a plain valuation. The HomeBuyers survey was introduced by the Royal Institute of Chartered Surveyors (RICS) to bridge the gap between a FSS and a valuation – the FSS being an expensive and time consuming project whilst the valuation was merely that and gave no indication of the state of the property.
However, the HomeBuyers Report has attracted criticism for being relatively limited. They merely give an assessment of the condition of the main parts property and the occasional recommendation.
This has set the RICS development team thinking and their response is to introduce another form of report: The RICS Condition Report.
Like the HomeBuyers Report, the Condition Report it will provide an assessment of the condition of the property but will also comment on
- The construction and condition of the property at the date of inspection
- Any defects in need of urgent attention
- Any serious defects
- Things that need further investigation to prevent serious damage to the property
- Recommendations about likely contamination or environmental dangers
- Potential issues that a legal advisor should consider
- Defects that could be considered a safety risk
It will be interesting to see how the new report is received. Whether it causes a reduction in homebuyers report negligence and/or claims for negligence against surveyors will remain to be seen.