RICS level 2 survey helps you assess a property’s condition.
It is commonly used by surveyors looking to understand a property’s condition before they buy it. The survey includes a number of different elements, such as:
- An assessment of the property’s condition.
- Description of the property.
- Valuation of the property (optional and only upon request)
What is a Homebuyer level 2 survey?
Homebuyer surveys, also called “Level 2” surveys, are suitable for a wide range of residential properties.
It is intended to provide the client with a clear and concise report on the property’s condition, highlighting any significant defects or issues that may need to be addressed.
The RICS level 2 survey includes a visual inspection of the property and a detailed written report on the condition of the building and its services. It is typically used by the client to assess the overall condition of the property and to identify any potential issues that may need to be addressed before proceeding with the purchase or sale of the property.
The report will give you an overview of the needed property maintenance and an idea of if repairs are required, but it won’t detail the many repair solutions and their costs. The report also highlights issues that your legal advisor should investigate and offers basic guidance on environmental risks.
The HomeBuyer survey report has a specific format compared to the full building survey report. The report is simple and easy to follow. The report is not customized for each case. Industry standards recommend a Homebuyer survey if your property is relatively recent, traditionally built, and looks in good shape.
Consider a full building survey if you want something more in-depth to your needs.
What does a HomeBuyer level 2 survey cover?
In a RICS HomeBuyer Survey (level 2), a visual inspection of the property and a detailed written report on the condition of the property and its system are included, along with the below mentioned additional points:
- The property’s general condition, including its construction and any significant defects or issues that may need to be addressed.
- The condition of the property’s exterior, including the roof, walls, windows, and doors.
- The condition of the property’s interior, including the floors, ceilings, walls, and doors.
- The condition of the property’s services, such as heating, plumbing, and electrical systems.
- Any potential risks or issues, such as dampness, rot, or subsidence.
- Any recommendations for further investigation or action that may be needed.
- Reinstatement costs and a market valuation of the property (optional and incurs additional cost).
What are Property Condition Ratings?
Property condition ratings are a way of summarizing the overall condition of a property in a simple and standardized way.
These ratings are often used in property surveys, such as the RICS Homebuyer Survey, to provide the client with an easy-to-understand overview of the property’s condition.
The exact method for determining a property’s condition rating may vary depending on the surveyor and the type of survey being carried out.
Generally, the ratings are based on a visual inspection of the property and a detailed assessment of its condition.
There are typically three main condition ratings that are used:
- Condition Rating 1 – No repairs currently needed.
- Condition Rating 2 – Defects that need repairing or replaced but are not considered serious or urgent.
- Condition Rating 3 – Defects that are serious and need to be repaired/replaced urgently.
For a complete assessment of the property’s condition, it is recommended to read the full report provided by the surveyor.
You can get a free quotation by highly experienced and skilled RICS-accredited surveyors at Smart home .
Book your RICS-accredited‘ Level 2 HomeBuyer Survey Report today.
Frequently Asked Questions
1. What does a level 2 survey report look like?
A level 2 Homebuyer survey is a comprehensive survey report detailing various aspects of the property such as the interior, exterior, services, grounds and legal matters. Typically, a traffic light system is used in a HomeBuyer report to indicate how serious repairs are. The traffic light system uses red, amber, and green colors, with green indicating no repairs, are required and red indicating urgent repairs.
2. How much does a HomeBuyer survey report cost?
The cost of a HomeBuyer survey report can vary depending on a number of factors, including the size of the property, its location, and the complexity of the survey. In general, however, a HomeBuyer report is typically more affordable than a building survey level 3, which is a more detailed and comprehensive inspection of the property. It is also essential to remember that the cost of a HomeBuyer report is a worthwhile investment, as it can provide valuable information that can help you make an informed decision about whether to purchase a property.
3. How long does a HomeBuyer report take?
The amount of time it takes to complete a HomeBuyer report can vary depending on the size and complexity of the property. In general, however, a HomeBuyers survey will take 2-3 hours to complete on-site. Once the survey is complete, the surveyor will typically prepare the report and provide it to you within five working days.
4. Which properties are recommended for the level 2 survey?
This type of survey is suitable for properties that are relatively new or for properties that have been well-maintained. A level 2 survey is typically recommended for properties in good condition and with no obvious defects or issues.
