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Undertaking an RICS survey allows buyers to know if there are any deal-breaking issues with a property before they commit to purchase. The buyer gets a choice of three types of survey: a Condition Survey (Level 1), a HomeBuyer Survey (Level 2), or a Full Building Survey (Level 3).
Knowing what a house survey is and when it’s necessary can potentially save you a huge amount of expenses. The survey allows you to get in and see everything that might be wrong with the house before you buy it, letting you use that information as leverage in negotiating the price. It can also help you decide whether you really want the house or not, since it will bring to light any number of potentially deal-breaking issues. If you’re selling the house and have a survey done, it does the same thing in reverse, warning you of any problems in advance.
For homeowners worried about particular facets of their home’s structure and condition, a Specific Defect Survey is the way to go. The survey will tell you what is amiss and give you the detail on why it is and what it will take to make it right. It will even help you ascertain what the remedial fix will cost.
You will require an RICS Valuation if there is a Help to Buy shared equity loan on your home or you plan to use a Right to Buy scheme. This is essentially an independent assessment of your home’s worth, undertaken by a surveyor accredited under the Royal Institution of Chartered Surveyors or other similar accreditation body like CIOB or RPSA.
A Level 3 Full Building Survey offers a meticulous analysis of your property’s structure and state. If it needs repairs, the survey can give you the estimated costs as an extra service.
With a Full Building Survey, you’re paying for a pretty comprehensive understanding of the workings and structure of your property. If the property is old, rundown, or particularly large, industry guidelines suggest opting for this type of surveying instead of the more basic ones. If you plan on doing any kind of major work to the property, that would be another reason to spend on a Full Building Survey.
A Level 2 HomeBuyer survey is a visual inspection of the property that is done with accessibility in mind. The survey gets straight to the errors and omissions that, in the surveyor’s mind, are serious enough to probably affect the buyer’s decision to carry on with the purchase.
A few surveying companies also offer Level 1 Condition reports. These are short and give a general overview of the property’s current state. They are really only suitable for modern properties that seem to be in good condition or in respect of party wall matters. If you think your property might qualify, there’s no harm in asking a surveying firm if it can do a Level 1 Condition report on your property, but you should ordinarily go with a Level 2 or 3.
Typically, the individual buying the property arranges for the building survey to be conducted. They make the decision about what kind of survey to have done and what course of action to take based on the survey results.
It’s entirely up to you, but to have the peace of mind that comes with really knowing your property, we recommend that you opt for a Full Building Survey, regardless of what kind of property you have, as it is the most comprehensive and does not cost much more than the others.
While your survey will furnish detailed descriptions of the present condition of the property, it will also do something else that is very important: it will include comprehensive technical and structural guidance that is relevant to that property.
The different types of survey— Homebuyer Report versus Full Building Survey—represent a range of quality standards. Here we describe the two surveys; hopefully, this will give you a clearer picture of the kind of valuable property condition information your surveying team is going to provide.
The Royal Institution of Chartered Surveyors (RICS) states clearly what each level of building survey should include. It does this so the homebuyer or seller can easily understand the type of services to expect from a survey—and, in turn, that makes it easy for the surveyors themselves to know what they’re supposed to offer. Here are a couple of the RICS’s examples clarifying the key distinctions between the less-involved level 2 survey and the more detailed, comprehensive level 3 survey.
Roof: the surveyor will enter the space beneath the roof, look at what can be seen, and assess the insulation and ceiling below. The few objects that might need to be moved to achieve a more complete inspection will be moved if it is safe to do so.
Windows: items that could obstruct the inspection of the windows will be moved, and the operability of the windows will be assessed.
Floors: any coverings that might hide defects in the floor will be lifted if it is easy to do and safely. A few deviations in any slope will be checked if necessary. The space beneath the floor (void) will be checked if accessible.
Roof: the surveyor will check the loft area but will not touch anything.
Windows: these will be checked by opening and shutting. The surveyor will not inspect windows where the curtains and personal items are in the way.
Floors: if anything on the floor hinders the operation of checking the floor, the surveyor will not move it. If the floor is covered with anything that inhibits access to the floor, or if the surveyor can not check the normal access points for a floor (like the trap doors used to check if there’s a floor beneath), then access to the underside of the floor will not be part of the inspection.
Looking for a Chartered Surveyor? If you are buying a property, contact us for a building survey. Our panel of CIOB, RPSA and RICS surveyors will help you with the Level 2 or Level 3 property survey you need in Notting Hill. We can also assist you in Red Book Valuations, Party Wall Awards and other services. Reach out to us today for building surveyors, valuers and party wall surveyors in London!
