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What the RICS Research shows

  • More than a fifth of home buyers who did not take out a survey are now saddled with a property they would never have bought if they had been aware of its true condition
  • The survey of 1,017 buyers across the UK found that consumers are clearly aware of the need for independent advice. However, nearly a third failed to get it. The new homeowner may then be unable to afford, or have the desire, to fix the faults and may be left with a property they may no longer want to live in but are unable to sell to recoup their losses
  • RICS’ survey shows it is the young and first-time buyers who are at particular risk, with a lack of understanding of the home buying process
  • Nearly 60 per cent of respondents incorrectly identified an estate agent’s primary responsibility, with one in five thinking they act equally for the buyer and seller
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