Residential Surveys and valuations

RICS Valuation

An RICS valuation is a professional assessment of a property's market value, carried out by a surveyor who is a member of the Royal Institution of Chartered Surveyors (RICS). The RICS valuation report is provided on our own bespoke valuation report template and provides a brief summary on the type of construction and general condition of the building, however does not provide detailed analysis on significant defects or advice on maintenance. This type of report is suitable for a variety of scenarios where there is a requirement to ascertain the market value of a property.

RICS Home Survey - Level 2

Previously called a ‘Home Buyer Report’ or ‘Home Buyers’ Survey’, an RICS Level 2 Home Survey is most suitable for conventional properties that are in reasonable condition and are simple in form and layout (for example, a property that does not have multiple alterations or extensions). The report gives you more detailed information about the property, and ideas about future repairs or maintenance that may be required. Level 2 can be a survey only, or a survey and a valuation.

Choose an RICS Level 2 Home Survey (survey only):

• If you would like more extensive information while buying or selling a conventional house, flat or bungalow, built from common building materials and in reasonable condition.

Choose an RICS Level 2 Home Survey (survey and valuation):

• If you would like more extensive information while buying or selling a conventional house, flat or bungalow, built from common building materials and in reasonable condition, plus a market valuation and insurance reinstatement figure, to help you avoid under- or over-insurance.

RICS Home Survey - Level 3

An RICS Level 3 Home Survey is the most comprehensive survey report. It was previously known as an ‘RICS Building Survey’. It provides you with an extensive, in-depth analysis of the property’s condition and includes advice on defects, repairs and maintenance options.

Choose an RICS Level 3 Home 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.

For the Level 2 and Level 3 RICS Home Surveys, each of the building elements e.g. roof, walls, ceilings, floors, drains etc is described in terms of its type and construction and as a new innovation will be given a condition rating which makes it much easier for the homebuyer to assess the severity of any issues raised.

Traffic light system

• Red - Defects that are serious and/or need to be repaired, replaced or investigated urgently.
• Amber – Defects that need repairing or replacing but are not considered serious or urgent. The property must be maintained in the normal way.
• Green – No repair is currently needed. The property must be maintained in the normal way.

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