RICS
Level 2 Survey
The Level 2 RICS Survey Explained
A RICS Level 2 survey, also known as a homebuyer report, is a type of property survey that provides a more detailed assessment of a property’s condition than a Level 1 survey. It is suitable for properties that are older or have some defects.
The survey report will cover the overall condition of the property, highlighting any areas of concern such as dampness, rot, or structural issues. It will also include an assessment of the property’s value, a market valuation, and advice on any necessary repairs or maintenance work.
In Summary
In summary, a RICS Level 2 survey provides a more detailed assessment of a property’s condition and is suitable for older or more complex properties. It is less comprehensive than a building survey, but more detailed than a Level 1 survey.
- Overall assessment of the property's condition
- Any significant defects or issues with the property, including structural issues
- An assessment of the property's value and market valuation
- Any potential legal issues, such as boundaries or rights of way
- Advice on any necessary repairs or maintenance work, including costs and timings
- An assessment of the energy efficiency of the property
- Recommendations for any further investigations or specialist inspections
Condition Ratings
The surveyor gives condition ratings to the main parts (the ‘elements’) of the main building, garage and some outside elements.
The Condition Ratings are as follows:
No repair is currently needed. The property must be maintained in the normal way.
Elements not inspected. The surveyor notes in the report if it was not possible to check any parts of the property that the inspection would normally cover. If the surveyor is concerned about these parts, the report tells you about any further investigations that are needed.
FAQ
Frequently Asked Questions
A RICS Level 2 survey is a type of property survey that provides a more detailed assessment of a property’s condition than a Level 1 survey. It is also known as a homebuyer report.
A RICS Level 2 survey covers the overall condition of the property, any significant defects or issues with the property, an assessment of the property’s value and market valuation, potential legal issues such as boundaries or rights of way, advice on any necessary repairs or maintenance work, an assessment of the energy efficiency of the property, and recommendations for further investigations or specialist inspections.
A RICS Level 2 survey is suitable for properties that are older or have some defects. If the property is very old or has significant issues, a more detailed survey such as a building survey may be necessary.
The length of time a RICS Level 2 survey takes can vary depending on the size and complexity of the property. Typically, it can take around 3-4 hours to complete.
Yes, the surveyor will provide an assessment of the property’s value and market valuation as part of the RICS Level 2 survey.
Yes, you can use the findings of a RICS Level 2 survey to negotiate the price of the property. If the survey highlights significant issues or necessary repairs, you may be able to use this information to negotiate a lower purchase price.
The cost of a RICS Level 2 survey can vary depending on the location, size, and type of property. However, as a general guide, you can expect to pay between £400-£800 for a RICS Level 2 survey.