The Homebuyer Survey and Valuation Report or (HSV) is a service carried out to a standard format, defined by The Royal Institution of Chartered Surveyors (RICS), designed for properties built after 1900, which are of conventional construction and in reasonable condition. An HSV includes the property's general condition, any significant defects, in accessible parts of the property, which may affect its value, and urgent and significant matters that need assessing before entering into exchanging contracts.
The HSV includes the value of the property on the open market and the recommended reinstatement cost for insurance purposes. An HSV is not a detailed survey of every aspect of the property and focuses only on significant and urgent matters. It's not suitable for properties built before 1900, those in need of renovation or that you are planning to extend. |
