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RICS Homebuyer Surveys
RICS Level 2
What is a HomeBuyer survey?
HomeBuyer surveys (also known as ‘Level 2’ surveys) provide an inspection by an RICS Chartered Surveyor of the areas of a property that are easily accessible. The surveyor looks for visible problems that are serious, dangerous or that could affect the property value. However, the structural integrity of the property is not examined in detail, nor are defects that are down to wear and tear. The report will include an overview of required property maintenance and will give you an idea of whether repairs are needed, but it will not discuss the repair options and associated costs. The report also provides top-line guidance on environmental hazards and highlights issues that your legal advisor should look into. Allcott Associates’ HomeBuyer surveys include a reinstatement cost for insurance purposes, and a market valuation.
Unlike the Full Building Survey report, the HomeBuyer survey report follows a set format. The report is straightforward and easy to follow, but it is not tailored to individual cases. If your property is fairly new, conventionally built and appears to be in good condition, then industry guidelines recommend a HomeBuyer survey. If you are looking for something more in depth and tailored to your needs, you may want to consider a Full Building Survey.
What does a HomeBuyer survey include?
Inspection
– An inspection of easily accessible areas of the property, including the major indoor features like ceilings, roof, walls, floors, bathrooms and woodwork.
– An inspection of permanent outdoor buildings and the outside of the home including roofing, pipes and gutters, walls, windows and outside doors.
– An inspection of the visible parts of the heating and drainage systems, electric, gas/oil and water services.
– Assessment of easily accessible timbers for rot and active woodworm infestation.
Testing
– Testing for dampness of the walls.
Advice
– Overview of property maintenance for areas checked.
– Top-line information on environmental hazards.
– Considerations for your legal advisor.
Valuation
– Reinstatement costs and a market valuation of the property.
What will the surveyor look at?
The HomeBuyer Survey is a non-intrusive visual inspection, in which your surveyor will inspect visible areas in your property.
They will report on the condition of your home and highlight any defects that are serious, dangerous or that could affect property value.
They will not, however, lift up floorboards or carpets or move furniture – for a more comprehensive inspection, the Level 3 Building Survey is recommended.
How much does a homebuyer survey cost?
The cost of the HomeBuyer Survey will depend on the size and value of the property to be inspected.
The cost of a Homebuyer report from Allcott Associates will also include a valuation of the property, which can be used to negotiate its price. Your surveyor will also provide you with a reinstatement value, which is an estimate of the cost of rebuilding the property for insurance purposes.
Or contact us for more information: info@allcottassociates.co.uk | 0333 200 7198
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