Originally Posted by lotteblade
Are the home buyers worth it or a waste of money?
No, it's not waste of money. There are effectively three types of property inspection:
1. Mortgage valuation- yes, a waste of money, but essential if one is seeking a mortgage advance. It reassures the prospective mortgagee (lender) that the advance will be sufficiently secured on the property. However, it is often conducted by a non-surveyor; and, although the mortgagor (borrower) usually has to pay for it, it's not for the mortgagor's benefit.
2. Homebuyer Report: a sort of 'halfway' inspection, by a Chartered Surveyor, and quite detailed. However, it's not nearly as detailed (or expensive) as...
3. Full Structural Survey.
A Homebuyer Report is adequate for most properties, but not for one which is:
a. a Listed Building;
b. known to have structural defects; or
c. of unusual construction or self-built.