RICS HomeBuyer Report London (Level 2)

Our RICS HomeBuyer Survey Report is a mid-range (Level 2) property inspection endorsed by the Royal Institution of Chartered Surveyors (RICS). It is suitable for most types of modern houses, bungalows and flats that are of standard construction and appear to be in a reasonable condition.

The main purpose of this type of property investigation is to provide you with all the information you need to decide how to proceed with your property purchase, once all defects and risks have been identified. Our independent Chartered Surveyors add real value to your decision making, helping to protect your investment.

What does the RICS HomeBuyer Report include?

Our Chartered Surveyors inspect your property to help you identify any significant problems, such as subsidence, damp, lintel failures, movement cracks as well as many other unwelcome hidden issues both internally and externally.

The HomeBuyer Report format has a clear, standardised structure and is designed to be user-friendly and easy for homebuyers to understand. It uses the following RICS traffic light condition ratings to identify building defects and their severity for each element of the property:

Condition rating 3: Defects that are serious and / or in need of urgent repair, replacement or further investigation

Condition rating 2: Defects that need repairing or replacing but are not considered to be serious or urgent.

Condition rating 1: No repair is currently needed.

The survey findings will highlight any major building defects found and their impact on the property value. The report will clearly spell out whether remedial action should be taken before contracts are exchanged.

You can download a RICS HomeBuyer Report sample here and preview some of our recently completed case study’s here.

Foundation Surveyors offer three distinct RICS HomeBuyer Survey options: Standard, Plus and Complete. Click here to take a look at the available options or compare the table below.

Depending on your chosen option, the report can include robust figures for an accurate market valuation and an independent insurance rebuild cost valuation. Drone technology may also be used for a close-up inspection of hard-to-reach areas.

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Click here to see our homebuyer options

Is a RICS HomeBuyer Survey Report money well spent?

We recognise that buying a property is an expensive undertaking with budgets often stretched to breaking point. But rather than viewing a home survey as ‘nice to have’, consider it as an important opportunity to carry out your own diligence to safeguard your investment.

A recent study carried out by the RICS discovered that homeowners who chose not to bother with a survey ended up spending an average of £5,750 on unexpected remedial work after moving in. The cost of a RICS HomeBuyer Survey is a small fraction of the overall property price – and the potential expense of repairs is so high – that it’s always worth having the peace of mind that the survey provides.

By investing in a home survey before finalising the purchase, you also have the option to negotiate the potential repair cost of any defects found with the seller and obtain a reduction in the purchase price.

Why choose Foundation Surveyors?

At Foundation Surveyors in London, we carry out specialist surveys and inspections for all types of properties. We have four offices in London and Essex and a team of experienced building surveyors who offer the full suite of RICS endorsed property surveys including RICS Condition Reports (Level 1), RICS HomeBuyer Reports (Level 2) and RICS Building Surveys (Level 3). We’ve built up an enviable reputation for our technical skills and customer service excellence, with great reviews that you can read here.

Providing independent building expertise in London

Buying a property in London is a major investment. For many homebuyers, it’s a significant financial milestone and the principal single investment of their life. Foundation Surveyors are on hand to help with a wealth of building expertise and investigative skills to help you identify risks and problems with the building before contracts are exchanged. We can provide valuable professional insights into the condition of the building. With the benefit of our independent advice, you’ll be able to make an informed decision about your purchase.

Helping to save you money and protect your investment

Our RICS home surveys are designed to give you all the facts you need to make the right decision about your property purchase. The findings will tell you if there are any urgent repairs necessary and if these warrant a renegotiation of the purchase price. If major problems are identified, such as subsidence or the presence of Japanese knotweed, you may decide not to proceed at all. In any event, a HomeBuyer Report delivers valuable information at an affordable cost, making it a truly cost-efficient survey.

For more information about our RICS HomeBuyer Surveys in London or other property surveys or valuations, please get in touch with our team.

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I already have a mortgage report, so why do I need a survey?

Many homebuyers choose to rely on their mortgage valuation report, and often to their detriment. The mortgage valuation is not a survey, it is a property risk assessment commissioned by the lender for their benefit only. In order to conduct your own due diligence on the property you are about to invest in, it is highly recommended that you commission an independent survey by a Chartered Surveyor to identify any building defects.

When is a RICS HomeBuyer Survey the right choice of survey?

It is important to choose the right level of survey for your needs, and our team are happy to advise on the most appropriate choice. HomeBuyer Reports are suitable for conventional modern flats or houses that seem to be in generally good condition but may not entirely meet building regulations. They can also be used to identify the presence of any structural problems such a damp and subsidence. Older homes or unusual properties will require a more detailed Building Survey, while a Condition Report should be sufficient to assess new or nearly-new builds.

What is the difference between a RICS HomeBuyer Report and a RICS Building Survey?

A HomeBuyer Report is a mid-range (Level 2) survey while a Building Survey is an in-depth (Level 3) investigation formerly known as a full structural survey. The former is perfectly adequate for the majority of conventional modern homes that are in a reasonable state of repair. However, if you are considering the purchase of a period property, a listed building, a non-standard construction, a very large house or one that has undergone (or requires) substantial renovation, only a full Building Survey will have sufficient scope to deal with all the complexities.

What are my options after a poor survey result?

If the HomeBuyer Report identifies serious property defects, these findings will be highlighted in amber or red. We often advise that they be investigate further by specialist surveyors or contractors. You can use our independent professional insights to revisit the purchase price with the seller, reducing the amount to cover the cost of fixing the problem. It is best to back up your new offer with cost estimates from independent contractors. Of course, you may also decide not to proceed at all and walk away from the purchase.