Definitions for "Home Buyers Report"
This is a property survey report which has more information than a mortgage valuation but is not as detailed as a full structural survey report. This report is used by the lender in place of the mortgage valuation report and gives more information that will enable a borrower to reach a decision on whether or not to purchase. A detailed a structural survey report may be more suitable for some types of property, e.g. older. It is essential that professional advice is sought in this area.
This is an intermediate level survey that is usually offered by the mortgage lender. The report comments on the structural condition of most parts of the property that can be readily accessible, but it does not involve in-depth investigation of the testing of water, drainage or heating systems. The report should pick up most potential problems.
a combination of a Valuation and a survey and should help you identify any major faults in the property that you are considering buying
Keywords:  glossary, mortgage
Mortgage Glossary