RICS Home Survey 2

What is an RICS Home Survey Level 2 ?

An RICS Level 2 Survey, also known as a HomeBuyer Report, is a detailed inspection and report of a residential property. This intermediate survey is suitable for standard properties in reasonable condition. It provides a clear, concise snapshot of the propertys current state, highlighting any potential issues or defects.

What Does an RICS Level 2 Survey Cover?

A RICS Level 2 Survey includes:

Property Condition

This type of survey gives you a detailed look at the property overall condition, pointing out any obvious defects or areas that may need repair.

Structural Movement

In this, the surveyor will look for any signs of subsidence, settlement, or other structural issues that could maybe affect the building stability. If anything unusual is found, it will be flagged so you can decide whether it is a minor concern or something that needs further investigation.

Dampness

It checks for any damp spots in the property, identifying possible causes and how much of an issue they might be. This helps you understand whether it is just a bit of moisture or something that could lead to bigger problems.

Timber Issues

This part looks at the timber throughout the property, checking for any rot, woodworm, or other infestations. Timber problems can cause major damage over time, so catching them early is very important.

Services Overview

The survey will give you an overall look at essential services like plumbing, electricity, heating, and drainage. While it wont carry out any in-depth tests, it will highlight any obvious issues or potential risks that might need immediate attention.

Insulation and Damp Proofing

The survey checks if the property has enough insulation and proper damp-proofing. These are key for keeping energy bills down and protecting the home from moisture problems, especially in older houses.

External Elements

This covers the condition of things like the roof, walls, windows, and doors. It highlights any damage or repairs needed to keep the property weatherproof and looking good.

Energy Efficiency

This survey will give you a basic overview of the property energy efficiency, including factors like insulation and heating. This can give you a good idea of future running costs and how comfortable the home will be.

Legal Considerations

Finally, the survey will highlight any legal issues, such as boundary disputes or planning restrictions, that you should discuss with your solicitor before making a purchase.

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Condition Ratings

During the inspection, the surveyor assigns condition ratings to the main parts (the ‘elements’) of the main building, garage, and some outside elements. These ratings indicate the urgency of repairs and any risks associated with neglecting them.

No repair is currently needed. The property requires maintenance in the normal way.

Defects that need repairing or replacing but are not considered serious or urgent. These should be attended to as part of the normal maintenance of the property.

Defects that are serious and/or need to be repaired, replaced, or investigated urgently. Failure to address these defects could risk serious safety issues or severe long-term damage to the property. Written quotations for repairs should be obtained before making a legal commitment to purchase.

Elements not inspected. The report notes any parts of the property that could not be inspected during the survey. If the surveyor has concerns about these areas, they may recommend further investigations.

Documents we may suggest you request before you sign contracts.

Inspection: What It Does & Does Not Cover

What It Covers:

Visual Inspection: A thorough visual inspection of all accessible parts of the property, both inside and outside.
General Condition: Overview of the general condition of the property and any noticeable defects.
Major Faults: Identification of major faults that could affect the value of the property.
Urgent and Significant Issues: Highlighting urgent and significant issues that require immediate attention.
Basic Testing: Basic functional testing of key services such as electrical fittings, plumbing, and heating (without specialist equipment).

What It Does Not Cover:

Hidden or Inaccessible Areas: The survey does not involve lifting carpets, moving furniture, or inspecting areas that are not easily accessible.
Specialist Testing: No detailed testing of services such as gas, electrical systems, or drainage (recommendation to obtain specialist reports if necessary).
Detailed Structural Analysis: Does not include detailed structural calculations or design verification.
Environmental and Hazardous Materials: Does not test for hazardous materials such as asbestos or conduct environmental assessments.
Ground Below the Property: Does not inspect or test the ground beneath the property for contamination or other issues.

Valuation Section

An important part of the RICS Level 2 Survey is the inclusion of a professional valuation. This valuation provides an estimate of the market value of the property based on current market conditions and comparable properties in the area. It also includes:

Market Value: An estimate of the property value at the time of the survey.
Insurance Rebuild Cost: The estimated cost of rebuilding the property in the event of total destruction.

The valuation helps in making informed decisions regarding:

Purchase Price: Ensuring you pay a fair price for the property.
Insurance Needs: Determining the appropriate level of insurance coverage.
Investment Analysis: Assessing the potential return on investment for the property.

Who Needs an RICS Level 2 Survey?

This survey is ideal for:

Buyers purchasing a standard, relatively modern property in reasonable condition.
Sellers wanting to provide potential buyers with a reliable condition report.
Homeowners looking to understand the current state of their property.

Benefits of an RICS Level 2 Survey

Peace of Mind: Gain a clear understanding of the property condition.
Cost-Effective: More affordable than a full structural survey but more detailed than a basic valuation.
Informed Decisions: Helps you make an informed decision about purchasing or selling a property.
Negotiation Tool: Use the report to negotiate the price if significant issues are found.
Professional Valuation: Provides an accurate estimate of the property market value and rebuild cost.

The Survey Process

Initial Consultation: Discuss your needs and provide details about the property.
Survey Inspection: A qualified RICS surveyor conducts a thorough inspection of the property.
Report Compilation: The surveyor compiles the findings into a clear, easy-to-understand report.
Valuation:The report includes a professional valuation of the property.
Follow-Up:Discuss the report with your surveyor to clarify any points and plan any necessary actions.