There are affectively three different types of survey to choose from as defined by RICS Home Surveys. When buying a home, it is important to remember that your Mortgage Lenders valuation report is not a survey. It merely tells your lender whether or not the property is reasonable security for your loan.
Survey level 1 – Condition Report
Choose this report if you’re buying or selling a conventional house, flat or bungalow built from common building materials and in reasonable condition. It focuses purely on the condition of the property by setting out the following:
Survey level 2 - The RICS HomeBuyer Report (Survey & Valuation)
This contains all the features of the Condition report plus a more extensive inspection and;
Survey level 3 – The RICS Building Survey
Choose the Building Survey (formerly called a structural survey) if you’re dealing with a large, older or run-down property, a building that is unusual or altered, or if you’re planning major works. It costs more than the other RICS reports because it gives detailed information about the structure and fabric of the property.
The RICS Building Survey uses the same traffic light ratings as the Condition and HomeBuyer Reports. It also includes:
Please note the RICS Building Survey does not include a valuation, but one could be provided as an extra service if required. Also the surveyor may be able to provide an estimate of costs for identified repairs if agreed with you in advance.
Reliable and cost effective, these reports carry the full weight of the Royal Institution of Chartered Surveyors.