Formerly known as the HomeBuyer Report, is one of the most popular types of property surveys – and for good reason.
It provides a clear and concise assessment of the overall condition of a property, giving you expert insight before you commit to the purchase.
The survey is carried out by a qualified RICS Chartered Surveyor, who conducts a detailed visual inspection of the inside and outside of the property.
It highlights any obvious issues that could affect its condition, such as:
- Damp, timber decay, or mould
- Structural movement (e.g., cracking or subsidence)
- Problems with roofs, walls, windows, and floors
- Defective guttering or drainage
- Issues with insulation or ventilation
- Risks to safety or legal considerations (e.g., boundary issues)
You’ll also receive a clear traffic light rating system – red, amber, green – so it’s easy to see which areas may need attention.
Click here to see a survey sample report.
Understanding the Market Valuation and Reinstatement Cost in Your RICS Level 2 HomeBuyer Survey.
As part of your RICS Level 2 HomeBuyer Survey, the report may include two key figures: the market valuation and the reinstatement cost.
Market Valuation
This is the surveyor’s professional opinion of what the property is worth on the open market at the time of inspection. It’s based on the property’s location, size, condition, and recent sales of similar homes nearby.
In simple terms, it’s an estimate of what a typical buyer might reasonably pay – and what a seller might accept – if the property were for sale under normal market conditions.
While it can be helpful for your own understanding or for negotiating a price, please note this is not a guaranteed sale value.
Reinstatement Cost (for Insurance Purposes)
This is an estimate of how much it would cost to completely rebuild the property from scratch, if it were ever destroyed – for example, in the event of a fire or other disaster.
It includes the cost of materials, labour, and professional fees, but does not reflect the property’s market value. This figure is mainly used for buildings insurance, to ensure you are adequately covered in the unlikely event the property needs to be rebuilt.
Contact us with questions, for fees and to book a survey phone 0208 8669641, email hello@survey888.co.uk