RICS Level 2 Homebuyers Survey
A RICS Level 2 Homebuyers Survey provides potential buyers with critical information pertaining to the property’s condition, defects and potential future repairs or maintenance, and can include a property valuation also.
What Is a RICS Level 2 Homebuyers Survey?
A Royal Institution of Chartered Surveyors (RICS) Level 2 Homebuyers Survey enables potential buyers to access more detailed information about a residential property. When this type of survey is carried out, a chartered survey will conduct a detailed visual assessment of the property and draft a report that covers the condition of the property and any potential issues or defects.
A Level 2 Homebuyers Survey also provides you with information regarding ongoing maintenance requirements and the likely costs involved, and also highlights issues that require further investigation to prevent serious damage.
If you choose, a property valuation can also be incorporated into a Level 2 Homebuyers Survey. This provides a valuation on the basis of market value and includes a reinstatement sum to help you obtain the right level of insurance.
Who Should Get a Level 2 Homebuyers Survey?
It’s always advisable to have a building survey carried out before purchasing any type of property but there are different types of surveys that are more suitable for certain types of properties. A Level 2 Homebuyers Survey is designed for conventional, residential properties that are in reasonable condition. Typically, properties should have a relatively simple form and layout to benefit from a Level 2 survey and should not have been subject to significant alterations or modifications.
Key Features
A Level 2 Home Survey is based on an in-depth visual assessment of the property and key features of this type of survey include:
- The condition of the property
- Potential issues and defects
- Serious issues that require urgent attention
- Potential issues that need to be investigated further to prevent serious damage
- Ongoing maintenance requirements
- Inspection of the roof space and drainage chamber
If you choose to include a valuation as part of your Level 2 Home Survey, it will also incorporate:
- A valuation based on market value
- A reinstatement sum for insurance purposes
Benefits
A Level 2 Homebuyers Surveys offers a wide variety of benefits, including:
- Protecting your investment
- Reducing costs
- Budgeting for future expenditure
- Enabling you to access additional advice
Purchasing a property is likely to be one of the most significant financial transactions you ever make, and an appropriate homebuyers survey can help to protect your investment by uncovering hidden defects or issues before you finalise your offer. If issues are apparent following the survey, you’ll have the opportunity to seek additional advice, withdraw or revise your offer accordingly. As a result, you can reduce the risk of future unexpected costs and avoid unplanned but necessary restoration works.
As a Level 2 Homebuyers Survey includes advice on the ongoing maintenance that’s likely to be required, it’s also a good way to gauge how much will need to be spent on the property in the short-, mid- and long-term to keep it in its current condition, which can help you to plan your budget.
By including a valuation in your Level 2 Homebuyers Survey, you can also ensure that your offer is reasonable and avoid paying too much for a property.
How to Book an RICS Level 2 Homebuyers Survey
At TCL Surveyors, we routinely carry out RICS Level 2 Homebuyers Surveys, with and without valuation, on behalf of our clients. To arrange a survey now, contact our team on 020 3176 0029 or email us at info@tcl-surveyors.co.uk.