RICS Home Survey Level 2 - What is it?
A high quality RICS approved Survey carried out by one of Wood Croft’s RICS accredited local Surveyors. The RICS Home Survey Level 2 which was formerly known as an ‘RICS HomeBuyer Survey’ is an informative, reliable, and cost-effective report providing clear and concise advice regarding any serious problems or specific risks a property may have. The RICS Level 2 Surveys is suitable for simple, traditional properties that appear in reasonable condition and can include an opinion of market value. It identifies what the Surveyor considers to be the most important issues and applies a condition rating to the defects identified.
People buying or investing in standard types of properties such as houses, or flats often feel that the cost of a report is just another expense on top of all the others. The Level 2 Survey seeks to address this issue by providing buyers and investors with useful information at a reasonable cost.
An RICS Level 2 Survey will entail a non-invasive inspection of the property and its elements and will highlight any concerns regarding its structure that may require further attentions. These will be allocated a condition rating which is done in a colour- coded, traffic light system with three distinct variants as follows:
- Condition Rating 1 – Routine maintenance only
- Condition Rating 2 – Non-critical repairs required
- Condition Rating 3 – Critical repairs required
The RICS Home Survey Level 2 is available in two versions:
- RICS Home Survey Level 2 – Survey Only.
- RICS Home Survey Level 2 with Valuation.
As the names suggest the only difference between these two versions is that the first version provides a ‘survey only’ of the subject property while the second version provides both a ‘survey and valuation’ of the subject property. Choosing between both versions is entirely dependent on what level of information is required on a subject property and is wholly driven by a client’s personal requirements. For more information on the details of each survey type see our ‘Document Downloads’ section.
RICS Home Survey Level 2 Summary
- A thorough visual inspection of the interior and exterior of the property.
- A valuation of the property to determine its market value*. (Please note that the valuation contained in the report is not suitable for mortgage purposes).
- An insurance reinstatement figure for the property*.
- A list of issues that our Surveyor considers may affect the value of the property*.
- Advice on repairs and ongoing maintenance.
- An overview of the condition of the services based on a visual inspection.
- Issues that need to be investigated to prevent serious damage or dangerous conditions.
- Legal issues that need to be addressed before completing your conveyancing and information on location, local environment and the recorded energy efficiency.
- A highly informative report on the construction of the property or defects identified.
*only available with Level 2 Survey with Valuation
Is this the right Survey for me?
- Particularly suited to properties built after 1900.
- A conventional house, flat or bungalow.
- A property in reasonable condition.
- Built from traditional common building materials.