Buying a new home can be an overwhelming experience.
We can help.
The RICS Home Survey & Valuation report aims to give you professional advice to help you to:
-
Make a reasoned and informed decision on whether to go ahead with buying the property
-
take account of any repairs or replacements the property needs
-
Consider what further advice you should take before exchanging contracts
It contains:
-
The surveyor’s professional opinion on the ‘Market Value’ of the property
-
An insurance reinstatement figure for the property
-
A list of problems that the surveyor considers may affect the value of the property
-
Advice on repairs and ongoing maintenance
-
Issues that need to be investigated to prevent serious damage or dangerous conditions
-
Legal issues that need to be addressed before completing your conveyancing; and
-
Information on location, local environment and the recorded energy efficiency (where available)
RICS Level 2 Home Survey & Valuation Report
What's included in a Home Buyers Survey?
The RICS Level 2 Home Survey & Valuation Report is in a standard format and includes the following sections:
-
Introduction to the report
-
About the inspection
-
Summary of the condition ratings
-
About the property
-
Outside of the property
-
Inside of the property
-
Services
-
Grounds (including shared areas for flats)
-
Issues for your legal advisers
-
Risks
-
Valuation
-
Surveyor’s declaration
Appendices:
-
What to do now
-
Description of the RICS Level 2 Home Survey & Valuation Report
-
House diagram
The surveyor gives condition ratings to the main parts (or ‘elements’) of the main building, garage, and some outside elements. The condition ratings are described as follows:
Condition rating 1
No repair is currently needed. The property must be maintained in the normal way.
Condition rating 2
Defects that need repairing or replacing but are not considered to be either serious or urgent. The property must be maintained in the normal way.
Condition rating 3
Defects that are serious and/or need to be repaired, replaced or investigated urgently
NI Not inspected (Inaccessible areas that would normally be reported on are indicated)
More Information on The RICS Level 2 Home Survey & Valuation Report
The RICS Home Survey & Valuation Report is provided by our Chartered Surveyors in South Yorkshire.
You can find out more about the RICS Homebuyer Report by clicking HERE.
The RICS Home Survey & Valuation Report is reproduced with the permission of The Royal Institution of Chartered Surveyors which owns the copyright.
