The homebuyers report was created in 2009 by the Government to help people make a solid decision when it came to buying a home. In the past, it was felt that the information available to those wishing to purchase a house was not complete or it was misleading. The other concern was that the survey could only be understood by the surveyors and the solicitors themselves. Many were finding that a sudden cost would come to light disrupting the sale and causing confusion. The homebuyers report would bring clarity and confidence to the process. This was done in accordance with and with advice from the Royal Institute of Chartered Surveyors.
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Conveyancing is an essential part of the house buying purchase and you should look at a UK Moving blog for homeowners. Sam Conveyancing has all the latest news for homeowners should you be looking to proceed. What do you get with a homebuyers report?
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The Homebuyers report provides you with all the information that you, and the lender, need to know about the property. There is a cost for this but you should balance this with the knowledge that the report will tell you everything about the property that you are looking to buy. A house is a major purchase, the biggest thing you will ever buy and the largest amount of money you will ever borrow. You need to have all the information you can get before you make the decision. Cracks in the foundations, an infestation of Japanese Knotweed all of these things create huge costs and issues later.