RICS Level 2 Home Survey Report

What is an RICS Level 2 Home Survey Report?

Designed by the RICS as a cost-effective method of minimising risk, the Level 2 Home Survey report, formerly known as a Homebuyer Report, is designed to provide buyers with enough information to make a reasoned and informed decision on whether to proceed with their purchase. We recommend this level of report for conventional properties that are in fair condition with no serious defects.

If you are buying a property that is in need of renovation, has some serious notable defects and/or are planning major alterations you would want to consider the more in-depth RICS Level 3 Home Survey report.

What is included?

The RICS Level 2 Home Survey report includes information on the construction of the property and the amenities in its location including transport links. You will get an assessment of the condition of the property from the roof down to the foundations utilising an easy-to-understand traffic light system:

Your report will also comment on the quality of insulation, damp-proofing and drainage where visible (your surveyor will lift drain covers but cannot perform any invasive tests).

During the survey, the walls will be tested for damp using a moisture meter which can help diagnose the cause of any problems such as a defective roof or a build-up of condensation. The condition of any timber elements such as fascia boards, windows, doors and floors will be confirmed and the surveyor will check for evidence of woodworm.

You will be alerted to all urgent issues (Red) requiring further specialist attention before you exchange contracts which typically include electrical, gas and drainage although you may find that these are already available and can be supplied by the current owner.

There is a very useful section towards the end of the report called ‘Issues for your legal advisors’ where all matters that require further investigation by your solicitor or conveyancer are summarised. The current owner has a duty to be honest when completing the property questionnaire but statements that could be confirmed by independent verification should not be relied upon.

Legal queries that might be highlighted in an RICS Level 2 Home Survey report include any ambiguity over the physical boundaries, ownership of outside space and rights of access, off-street parking, documentation relating to extensions (both to the subject property and adjoining properties) and alterations, guarantees/warranties and proposed work to areas that could not be inspected such as high-level roofs.

The language used throughout the report should be straightforward to understand with your surveyor avoiding the use of technical jargon. If you are unsure of any of the wording or recommendations, our surveyors are more than happy to talk them through over the phone. We have offices across London in Kensington, Fulham, South Woodford, Winchmore Hill, Hendon and Greenwich.

What do I do once I have my report?

It is very rare for an RICS Level 2 Home Survey report to come back with no Red or Amber ratings so the first thing to say is don’t panic! Seeing a dozen items that need attention can be daunting, but the key is to evaluate and attend to them one by one, and if you are in doubt, speak to your surveyor.

The most commonly reported RED items are:

• Electrics (usually requiring further investigation by a qualified electrician)
• Gas & Central Heating (usually requiring further investigation by an accredited GAS Safe engineer)
• Damp (can be linked to other defects such as the roof or many require further, more invasive investigation by a damp specialist)

Whilst detailed repair costs are not part of the RICS Level 2 Home Survey report or service, your surveyor may be able to advise as to general costs. However, it is recommended that you follow up by obtaining some quotes from local builders.

Armed with all the above information we would strongly advise that you either ask the Vendor to undertake the repairs or renegotiate the under-offer price.

Why should I get an RICS Level 2 Home Survey report?

The purchase of a property is one of the most expensive outgoings you will ever face, but most purchasers neglect to factor in the ongoing cost of maintenance and repairs. If you are lucky, this could be a couple of thousand pounds a year but, if unlucky, this could run to the multiple tens of thousands of pounds.

An RICS Level 2 Home Survey report will give you a better understanding of the defects present in a property and allow you to agree a price with these factored in. Where the defects and repair costs are either too significant, or where the current owner is unwilling to either undertake the repairs or agree to a price reduction, you can always walk away knowing that the decision was an informed one.