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Which RICS survey is best for your needs?

Tuesday, August 16, 2016

A valuation is not a survey. Make sure you know as much as you can about the true condition of your future home before you commit to buy.

A mortgage valuation is for the benefit of the lender while a survey is for your benefit.

A RICS Home Survey will highlight potential problems and getting one done can help you avoid the average £5,750 repair bill that homebuyers face once they have moved into their new home.

RICS Condition Report (level 1)

This report focusses purely on the condition of your property by giving ratings to the different parts of the building and flagging up any areas that need attention.

RICS HomeBuyer Report (level 2)

This report gives you more detailed information and provides an independent valuation of the property. It includes a more extensive inspection of property with guidance on defects that may affect the value of the property.

RICS Building Survey (level 3)

This survey offers an extensive inspection of property condition and gives detailed information about the structure and fabric of the property. It includes a description of visible defects and potential problems caused by hidden flaws and an outline of repair options.