RICS Home Survey Level 2 for Homes in Cambridge & Cambridgeshire

 

The Level 2 Survey, previously known as the “Home Survey Level 2” or the “Homebuyers Survey Level 2,” is designed as a cost-effective service. Positioned in the mid-range price bracket, it is more expensive than a mortgage valuation but less costly than a building survey, primarily due to the practical limitations on the type of property and the scope of the service. An RICS Home Survey Level 2 offers a thorough and visual examination, providing essential insights into a property's condition. It is particularly suitable for properties built from the late Victorian period onwards, which are of conventional construction and in reasonable condition. Valuation advice can be included if you wish.

 

The surveyor's main purpose in providing the RICS Home Survey Level 2 is to help you:

• make a reasoned and informed decision on whether or not to go ahead with buying the property;
• make an informed decision on what is a reasonable price to pay for the property;
• take account of any repairs or replacements the property needs;
• and consider what other advice to take before exchanging contracts.

The Home Survey Level 2 report covers the following:

• the inside and outside of the building
• details of the general condition and particular features of the property;
• condition ratings for elements of the structure of the building, the services and any garages and permanent outbuildings;
• particular points you should refer to your legal advisers;
• specific risks associated with the property;
• other relevant considerations – for example, the location, the local environment and the property's energy performance (if this information is available).

 

Any defects that the RICs surveyor considers do not need repairing or replacing, or any minor matters that do not affect the property's value, are generally not included in the report. The Home Survey Level 2 Report is in a standard format but shorter and less detailed than a Building Survey.

 

Who’s responsibility is it and how does it differ from a mortgage or lender’s valuation?

In the UK, a Homebuyers Survey Level 2 is the buyer's responsibility, unlike Scotland where it is for the seller to arrange. This differs from a mortgage lender’s valuation, which is a basic assessment conducted by the lender to confirm the property's worth aligns with the loan amount. A mortgage valuation primarily serves the lender's interests rather than those of the homebuyer or owner and lacks the comprehensive detail of a full survey. Issues within the property that could be expensive to address might not be identified in the lender's valuation report. Therefore, it is crucial to have an RICS Homebuyers Survey Level 2 carried out by a fully qualified RICS surveyor.

 

How long you can expect the process to take

A Level 2 HomeBuyers Survey is usually done in 2 to 4 hours, with the report arriving in 3 to 5 working days (possibly longer if sent by post). Timelines depend on property size and surveyor access.

 

Request a RICS Home Survey Level 2

Before choosing a survey, it's essential to consider the age, type, and condition of the property, as well as your specific requirements for information. If a more in-depth assessment is needed, a RICS Home Survey Level 3 (building survey) may be recommended. Consult with our qualified surveyors to determine the most suitable survey for your circumstances.

 

Get in touch with us for more information about our RICS Home Survey Level 2, to speak to one of our RICS surveyors or fill out our form for a quotation.