RICS Home Survey 3

What is an RICS Home Survey Level 3?

An RICS Level 3 Survey, also known as a Building Survey, is the most comprehensive type of residential survey. This detailed inspection is suitable for all types of properties, especially older, larger, or significantly altered buildings. It provides an in-depth analysis of the property condition and extensive information on defects, repairs, and maintenance options.

What Does an RICS Level 3 Survey Cover?

A RICS Level 3 Survey includes:

Property Condition

This gives you an overall picture of the property condition, pointing out anything that is clearly wrong or might be hiding beneath the surface. It is a great way to know what you are really working with.

Structural Integrity

The survey checks the building structure to see if it is holding up properly or if there are signs of settling or movement. It is all about making sure your home is sturdy and safe.

Dampness

If there are damp spots, the survey will find them and figure out what is causing them. Catching this early can save you a lot of hassle down the road.

Timber Issues

This is all about spotting things like rot, decay, or pesky infestations in any timber parts of the property. It is especially useful if the place has older wooden features.

Services Overview

The basics of plumbing, electrics, heating, and drainage are reviewed to make sure everything seems to be working as it should. It is not super in-depth, but it will give you peace of mind.

Insulation and Damp Proofing

The survey looks at how well the property is insulated and whether there is enough damp-proofing in place. These are super important for keeping the place cosy and moisture-free.

External Elements

This covers the outside features, like walls, roofs, windows, and doors, to check for any wear and tear. It is all about making sure the property stays in good shape and looks great.

Energy Efficiency

You will get a summary of the propertys energy efficiency and tips for improvements, helping you save on bills and be more eco-friendly.

Legal Considerations

The survey points out legal things you might need to double-check, like boundaries or paperwork. It is just an extra safety net for peace of mind.

Maintenance and Repairs

You will also get advice on what needs fixing now and what might need attention in the future. It is a handy way to plan for the propertys upkeep.

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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 and hard-to-reach parts of the property, both inside and outside.
Detailed Condition Report: Comprehensive report on the general condition of the property and any noticeable defects.
Major and Minor Faults: Identification of both major and minor faults that could affect the value or safety of the property.
Urgent and Significant Issues: Highlighting urgent and significant issues that require immediate attention.
Specialist Testing: More detailed testing of services such as electrical systems, plumbing, and heating.
Roof Spaces and Foundations: Inspection of roof spaces, cellars, and the foundations of the property where accessible.

What It Does Not Cover:

Hidden or Inaccessible Areas: The survey does not involve moving furniture, lifting carpets, or invasive investigation unless agreed upon.
Hazardous Materials Testing: No testing for hazardous materials such as asbestos unless specifically requested.
Detailed Environmental Assessments: Does not include comprehensive environmental assessments or checks for ground contamination.
Specialist Surveys: While it provides recommendations, it may suggest obtaining separate specialist surveys for certain issues.

Valuation Section

An RICS Level 3 Survey can also include a professional valuation upon request. 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 3 Survey?

This survey is ideal for:

Buyers purchasing an older, larger, or significantly modified property.
Sellers wanting to provide potential buyers with a detailed condition report.
Homeowners looking to understand the comprehensive state of their property.

Benefits of an RICS Level 3 Survey

In-Depth Analysis: Gain a comprehensive understanding of the propertys condition.
Informed Decisions: Helps you make informed decisions about purchasing or selling a property.
Detailed Repair Guidance: Provides detailed advice on necessary repairs and maintenance.
Professional Valuation: Offers an accurate estimate of the property market value and rebuild cost.
Peace of Mind: Provides confidence in understanding the true state of the property.

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.