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LEVEL 2 SURVEYS

WHAT & WHENS

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Level 2 Survey

There are two types of Level 2 Home Survey: the Home Survey – Level 2 (Survey and Valuation) Service and the Home Survey – Level 2 (Survey) Service. These are both regulated by RICS. The service aims to provide you with the necessary advice for you to make an informed decision on whether to go ahead with buying a property. The report advises you of any repairs that may be required, or further investigations which need to be carried out, and allows you to consider renegotiating the purchase price based on any work that may be required.

The Home Survey – Level 2 (Survey and Valuation) Service also allows you to make an informed decision on what is a reasonable price to pay for the property.

The Home Survey – Level 2 Service is delivered in accordance with the Home Survey Standard (1st edition) RICS Professional Statement. This level of service is for clients who are seeking a professional opinion at an economic price. It is, therefore, less comprehensive than a Level 3 service. The focus is on assessing the general condition of the main elements of a property. Please see our Documents section for the full definition of each Survey Level.

Contents

The Home Survey – Level 2 (Survey) Service includes an inspection of the property and a report based on the inspection.

The Home Survey – Level 2 (Survey and Valuation) Service includes the above, plus a valuation of the property.

What does the surveyor look at?

The surveyor inspects all elements inside and outside the main building, plus all permanent outbuildings and garages. The surveyor does not take up carpets or floor coverings and does not move furniture or personal effects within the property. External elements are inspected from ground level or using a ladder to reach up to 3m above ground level. Services are inspected where visible, but the surveyor does not carry out any specialist testing.

How is the report set-out?

The report is broken down into individual property elements. The condition of each element is objectively described, and an assessment of the relative importance of defects is provided, including advice about repairs and ongoing maintenance issues. Each element is also given a condition rating, which are described as follows:

  • Condition rating 1 – No repair is currently needed

  • Condition rating 2 – Defects that need repairing but are not considered urgent or serious

  • Condition rating 3 – Defects that are serious and need to be repaired, replaced, or investigated urgently

  • NI – Not inspected

This condition rating system allows you to easily see which elements of the property require urgent attention or further investigation. There is also a risk section which summarises all the defects and issues that present a risk to the building, the grounds, or people.

The report will also identify any issues that your legal advisers may need to investigate further.

Will I receive a valuation?

If you choose to opt for the Home Survey – Level 2 (Survey and Valuation) Service, the report will also include the current Market Value of the property. This is based on the definition of Market Value within the RICS Valuation – Professional Standards (known as the Red Book). The Market Value is based on comparable evidence of similar properties sold recently within the immediate locality.

A reinstatement cost is also provided, which is the cost of rebuilding an average home of the type and style inspected. This cost can help you decide the level of buildings insurance cover that you require.

What properties are suitable for a Level 2 Survey?

Most conventionally built properties are suitable for the Home Survey – Level 2 Service, although the age and type will depend on the knowledge and experience of individual surveyors.

The Level 2 Survey is unlikely to suit:

  • Complex buildings

  • Unique or older historic properties

  • Properties in neglected condition

We regret that we are unable to provide advice on any proposed future changes or adaptations to the property.

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