Arranging a survey
There are two main types of survey available for those buying a property: a RICS home survey level 2 (formerly know as the homebuyer's report) or a RICS home survey level 3 (formerly known as the residential building survey).
RICS home survey level 2
A RICS home survey level 2 report is an investigation carried out when you are buying a property. This is a more in depth survey than a mortgage valuation, but is still an economical way of learning about a property's condition and value.
A surveyor will look at all reasonably accessible areas of the building and provide the following:
- An opinion of the property's general condition, current market value and future sale prospects.
- Identification of any items or issues which require attention and/or may affect the value now or in the future.
- A list of matters with probable/possible legal implications which should be referred to your solicitor/conveyancer.
- Advice on maintenance and safety issues.
- Details of matters to be investigated further or acted upon prior to legal commitment to purchase
RICS home survey level 3
A RICS home survey level 3 is the most detailed property inspection available. The main difference between a RICS home survey level 2 and a RICS home survey level 3 is that the level 3 survey takes a more in depth look at the property's construction and condition.
It also includes the overall impression of services like water supply and drainage (testing these services is not included). A building survey can be tailored to your needs including major conversion or renovation. A building survey provides more detail about:
- Any major problems with the building.
- The general condition of reasonably accessible internal and external parts of the building.
- The roof structure.
- Any suspected problems like timber infestation or damp that might need specialist advice.
- Boundaries, grounds and outbuildings.
- Consequences of any problems discovered during the inspection.
- Once the survey is complete and there are no issues found, it's time to go through the process of agreeing the sale and exchanging and completing contracts.
