RICS Home Survey Standard Level 2

Many clients are familiar with the concept of the RICS ‘Homebuyer’ survey and understand it to be a mid-range residential survey, which is considerably more thorough than a mortgage valuation, but not as detailed as a full building survey.

The ‘HomeBuyer’ has been the staple mid-range survey product for some considerable time. It was a proven and well-designed service meeting the needs of the majority of house buying clients for the majority of house types.

The ‘Homebuyer’ no longer exists as an RICS recognised product. In 2019 RICS introduced the Home Survey Standard and members’ reports are now required to be ‘benchmarked’ against set ‘levels’ on inspection and reporting. The old ‘Homebuyer’ mid-range report equates to a modern-day Level 2 report.

The Level 2 report is not suitable for all property types. It is not appropriate for very large, unusually dilapidated, complex or older property types.

A Level 2 report reports each part or element of the building (ie chimney stack, …roof cover, …doors, …ceilngs, …electrics, …drains, etc.) and provides that part or  element with a Condition Rating – from 1 to 3 – thereby clearly drawing the client’s attention to problem or risk issues.

A Level 2 report will:

• describe each part or element of the building in enough detail so it can be properly identified by the client;
• describe the condition of the part or element;
• include comments where the design or materials used in the construction of a building element may result in more frequent and/or more costly maintenance and repairs than would normally be expected;
• broadly outline the likely remedial work necessary, and what needs to be done by whom and by when;
• give concise explanations of the implications of not addressing the identified problems;
• provide a Condition Rating for each part or element; and,
• cross-reference to the RICS surveyor’s overall assessment.

Photographs. Although it is not a standard feature of the RICS Home Survey Standard Level 2 report, our Level 2 reports include high-resolution colour photographs illustrating the identified issues and the building elements more generally.

Market Valuation. The standard version of the RICS Home Survey Standard Level 2 report does not include a valuation. An alternative version of the Level 2 report is available which includes an RICS Valuation: Global Standards compliant valuation and commentary, and a BCIS reinstatement valuation (for insurance purposes).

Costs

• The RICS Home Survey Standard Level 2 (survey only) report starts at around £400 plus VAT – (larger, older or more complex dwellings cost more).
• The RICS Home Survey Standard Level 2 (survey and valuation) report starts at around £450 plus VAT.

Further advice

We provide quotations specific to the dwelling under consideration. Please contact the office to discuss the dwelling to be surveyed. We will advise whether it is of suitable type for the RICS Home Survey Standard Level 2 service, and what the appropriate fee would be.