RICS Homebuyer Report In London

A Homebuyer’s Survey is designed to help you make a well-informed decision about purchasing a property in London. It is sometimes also referred two as a Level Two survey. It can help you to assess whether you’re paying a fair price as well as minimise the risk of unexpected issues and costs arising in the future.

Is a RICS Homebuyer Report Right For Me?

We recommend the RICS Homebuyer’s Survey if:

• The property appears to be in reasonable condition
• It’s less than 100 years old
• It hasn’t already been significantly altered
• It’s built in a common style with conventional materials
• You don’t want to make major alterations

If you aren’t sure if the RICS Homebuyer’s Survey is right for you, visit our RICS Property Survey Comparison here.

Why Do I Need A RICS Homebuyer Report?

Buying a property in London can be stressful, but the RICS Homebuyer’s Survey helps to reduce the risks associated with purchasing your new home.

A number of standard-setting and consumer protection organisations (including Which? and The Council of Mortgage Lenders) recommend seeking an independent home survey before committing to a property purchase.

What Does A RICS Homebuyer Report Contain?

The RICS Homebuyer’s Survey identifies any serious defects or problems with the property, and any potential legal issues that you may want your solicitor to investigate. It also advises on any future maintenance issues that may arise, so that you can make informed financial planning decisions.

After conversations with our Survey advisors, one of our Chartered Surveyors will inspect the property and compile a RICS Homebuyer’s Survey Report. The Report systematically covers the key elements of the building, flagging any issues that may require further investigation, and follows best practice guidelines issued by the Royal Institution of Chartered Surveyors (RICS). You can find a RICS Homebuyer’s Survey Report Sample here.

The RICS Homebuyer’s Survey can also include a market valuation, to determine if you’re paying a reasonable price, and a reinstatement value that you’ll need for insurance purposes. Reinstatement value is the cost it would take to rebuild your property if necessary. A market valuation and reinstatement cost assessment can be added to your survey for a small, additional fee.