Guidance on choosing the right survey
Residential Surveys
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“A residential survey is a critical step in the home buying process, offering detailed insight into a property’s condition. It ensures you have the information necessary to make confident, informed decisions.”
RICS Home Survey Level 2 (HomeBuyer Report)
The RICS Home Survey Level 2, previously known as the HomeBuyer Report, is most suitable for conventional properties which are in a reasonable condition and built with standard construction methods.
The RICS Home Survey Level 2 (HomeBuyer Report) follows a standard format set by the RICS and aims to enable clients to:
Take account of any repairs or replacements the property needs
Consider what further advice you should take before committing to purchase the property
Make an informed decision on what is a reasonable price to pay for the property (if a market valuation is chosen to be included).
RICS Home Survey Level 3 (Building Survey)
Previously called a ‘Structural Survey and later a Building Survey’, the RICS Home Survey Level 3 is essential for larger or older properties, or if you’re planning major works. This is the most comprehensive pre-purchase report and it will provide you with an in-depth analysis of the property's condition. The RICS Home Survey Level 3 will:
Help you make a reasoned and informed decision when purchasing the property, or when planning for repairs, maintenance, or upgrading the property
Provide detailed advice on the condition
Describe the identifiable risk of potential or hidden defects
Where possible and previously agreed, provide an estimate of costs for identified repairs, and
Make recommendations as to any further actions or advice which needs to be obtained before committing to purchase.
An RICS Home Survey Level 3 doesn't include a market valuation as standard, however, this as well as a reinstatement cost assessment can usually be provided if required.
RICS Valuations
An RICS Valuation is a professional assessment of a property's ‘market value’ conducted by an RICS Registered Valuer. It is based on the current market conditions, property condition, and comparable sales prices.
You may need an RICS Valuation for:
Buying or selling a property
Tax planning (e.g., inheritance tax or capital gains tax)
Divorce or separation settlements
Shared ownership or Help to Buy schemes.
Reinstatement Cost Assessments
A reinstatement cost assessment is an evaluation conducted to estimate the cost of rebuilding or reinstating a property in the event of damage or destruction.
A reinstatement cost assessment helps owners and insurance companies determine the appropriate level of insurance coverage needed to rebuild a property in case of a total loss. It takes into account factors such as the size, type, and construction materials of the building, as well as the current construction costs in the specific location.
At Navah Consulting reinstatement costs assessments are completed using up-to-date BCIS (Building Cost Information Cost) data.
Frequently Asked Questions
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When obtaining a mortgage on a property the lender will usually undertake a site-based valuation. This is undertaken by the mortgage company to ascertain whether the property is suitable for lending against.
The mortgage valuation is not a comprehensive survey and generally only takes around 15 – 20 minutes to complete. You may or may not be given a copy of the report depending on the lender.
A mortgage valuation should not be used to assess the condition of the property, for this an RICS Home Survey Level 2 or 3 should be commissioned.
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This is based on the age and type of the property as well as the presence of any significant alterations or defects.
An RICS Home Survey Level 2 (HomeBuyer Report) is recommended for more modern properties of standard construction. An RICS Home Survey Level 2 should be undertaken if the property is of fair/reasonable condition and hasn’t been heavily extended or altered.
An RICS Home Survey Level 3 (Building Survey) is the most comprehensive pre-purchase inspection under normal circumstances. This report is aimed at older properties, properties in a dated/dilapidated condition as well as all properties of non-standard construction techniques.
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A ‘Structural Survey’ is the historic name used for a RICS Home Survey Level 3 (Building Survey).
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Yes, be sure to get in contact via the contact form at the bottom of this page and we will be happy to send you a sample report.
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The Royal Institution of Chartered Surveyors (RICS) is the leading governing body for property professionals across the world.
Navah Consulting as a firm is regulated by the RICS and our employees are accredited to AssocRICS or MRICS status.
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Reports are made available by email within three working days of the completed inspection. If for any reason the report takes longer to complete, such as the property being particularly large or complex, we will keep you updated on progress and timescales.
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Navah Consulting aims to provide all services in a straightforward, efficient and client-focused manner. We understand the importance of providing reports and services in a concise, jargon-free format, in a quick time frame. See what our clients are saying about us and our work.
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If you would like to enquire about booking a survey please fill out the contact form below. It would be helpful to include the full address of the property as well as the agreed purchase price. One of the team will get in touch to discuss your requirements.