Building Survey Level 2: Revealing Your Property's True Condition

Are you about to purchase a property but you are unsure of the current state it is now? Maybe you are considering a Building Survey Level 2 in order to identify any potential problems and make an informed decision.

According to Royal Institution of Chartered Surveyors (RICS) a Building Survey Level 2 involves physically inspecting a property, writing a report based on the findings from inspection as well as including valuation information with the aim of providing professional advice on whether or not to proceed with the purchase. It may prompt you to renegotiate for a reasonable price, think about necessary repairs or replacements and find out what further advice should be sought before committing to the property. 

Understanding Building Survey Level 2

A Building Survey Level 2, sometimes referred to as a HomeBuyers Survey, applies more specifically towards ordinary properties made from modern materials which have limited defects. It is chosen by many people for houses that are generally in good condition and provides detailed examination of visible elements that might affect its cost.

Types of Properties Suitable for Level 2 Surveys

Level 2 surveys are applicable to quite number of different types of properties such as:

• typical residential buildings like houses apartments and bungalows;
• modern homes that have passed building regulations;
• properties showing no significant structural issues/defects; and
• properties requiring extensive assessment beyond level one but not as far as level three.

What is Included in a HomeBuyers Survey (Level 2)?

A Homebuyer's survey (level two) plays a key role in determining the condition and price of property before purchasing. Its contents include:

Physical Inspection

This survey involves examining every part of a house both inside and outside. There are experts who look at various elements from root to floor (subject to access and visibility) and make a conclusion concerning general condition.

Review of Property's Condition

During this process, the building surveyor inspects whether there are any signs of damage such as wear and tear or structural defects. Building surveyors pay close attention to places that are most significant to the property structure and are prone to problems such as roofs, lofts, walls, etc.

Advice on Defects

In the survey report you will find very detailed advice on every defect observed during the inspection. This can include recommendations for repairs or further specialist advice (e.g. electrical safety or plumbing checks).

Condition Ratings

Also in this same report the building surveyor assigns condition ratings on different parts of the property using a Traffic Light System (red, amber, and green). These help a potential buyer quickly identify the state of the property and decide which repairs or maintenance should be done first.

Focus and Limitations

Visible Issues

The aim is to address any apparent issues without ordinarily having to look behind surfaces. In other words, unless there are visible signs of anything wrong, lifting carpets or loose flooring, say, to inspect wiring, are not be expected in this type of survey.

Damage Documentation

The survey’s purpose is documenting any existing problems that may result in damage later on or need repair work in future years. Therefore, it helps people who are considering purchasing the property understand its state including possible costs associated with owning it.

Cost of Building Survey Level 2

Price Range

The cost usually ranges between £500 and £1000 for a building survey level 2. The actual price could however vary depending on factors like where the property is located and how comprehensive a review is required by the client.

Timeframe

Typically, it takes about 2-3 working days for you to receive a HomeBuyers Survey report. This really short wait ensures that you get the information you need on time when deciding on buying the property.

Benefits of Building Survey Level 2

A Building Survey Level 2 or RICS HomeBuyer Report has many merits both for purchasers and sellers dealing in property. Here are some of the benefits and how they assists purchasers to take informed steps when selecting the right property by unearthing potential issues and managing risks:

• Pathology: a Building Survey Level 2 examines the whole building from top to bottom so that buyers have a full understanding of it before purchasing.
• Clear Reporting: a simple survey report helps clients understand what they are buying into by using a Traffic Light System, which makes it easy to spot the weak points and strengths of a house or piece of land. These facts help them decide rationally instead of guessing wrongly.
• Spotting Issues: the property is thoroughly examined in a level two building survey, thereby helping identify any possible problems with it including defects or areas needing maintenance hence providing information regarding costs which buyers need to budget for or renegotiate with sellers.
• Reducing Risks: through indicating existing or probable threats, this research mitigates dangers that prospective buyers may face. Buyers may either back off from risky purchases, renegotiate or maybe go ahead if they can handle uncertainties like dampness or faulty wiring.
• Estimating Costs: most times this survey comes up with estimates for fixes where applicable and provided it is agreed with the surveyor for this to be included, thereby giving future costs warning signals for buyers who are planning their budget as regards home maintenance and repair services.
• Peace of Mind: once a Building Survey Level 2 is done, potential owners can stop worrying, as all relevant parts of the house have been inspected within the building surveyor’s remit. Therefore, there will be fewer concerns about flaws discovered after purchasing the property.

Commissioning a HomeBuyer Report

A Building Survey Level 2 (HomeBuyers Survey) is an important tool for property buyers to have a good understanding of the condition of the premises and probable defects. This survey provides potential buyers with full information on the condition of what they are purchasing, including condition ratings and advice regarding defects which enables them to make a more informed purchase decision.

In addition, what differs level two building survey from others is its ability to translate intricate results into simplified findings, particularly with a Traffic Light System. It also includes as a valuation on the estimated market value of the property. As a result, the report reflects clarity by reflecting the inspection findings in a summarised and easy-to-understand manner.