In the property world last week, Countrywide, the UK’s largest property group, announced the launch of a brand new “game changing” survey report called HomeFact – a product which they say “combines all the expertise of our surveyors with other online information sources that we’ve gathered about the property and its surrounding area.”
After conducting a study involving over 15,000 buyers and identifying a “knowledge gap” in the current types of surveys being offered, the group says their new report will not only highlight any defects and potential structural problems, but will also be “packed with information specific to the property being offered for sale.”
News of the HomeFact survey has sparked considerable interest amongst buyers and sellers alike since its announcement, with people referring to the product as being similar to an MOT style check – but on a property.
What will the survey cover?
As with traditional surveys, the HomeFact report will continue to highlight the need for any minor or major repair work, but will also offer significantly more information that would be considered just as valuable to any buyer.
Alongside the above, you could also expect the following topics to be covered –
- Local crime rate data
- Available broadband speeds
- Cultural and local facilities
- Transport links
- Medical facilities
The report uses an easy to follow system of coloured symbols as well as written advice and photographs accompanied by information from the Property Care Association regarding any structural problems.
Speaking to Estate Agent Today, Paul Wareham, Managing Director of Business to Business at Countrywide said: “I believe our HomeFact service offers comfort and peace of mind to home buyers about the condition of their property before they buy, presented in a format that’s easy to understand and which offers more value for money than a mortgage valuation report, and costs less than a traditional survey.”
“It will be a game changer in a market where information has been lacking, and bring home buying up to speed with the rest of the consumer world” he said.
What do you think of this new type of survey?
Will you instruct one for a property you’re currently buying?
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