Also known as a Building Survey, the RICS Level 3 Home Survey is the most necessary and comprehensive survey you can get for a property. Conducting a survey of this kind is mandatory if you are planning to buy a residential or commercial property. It is suitable for all types of homes, particularly older or more unusual properties that may have unseen defects or require significant repairs. It is worth mentioning that the property sellers also try to hide the same information from the buyer.
Here are five key considerations to remember when authorizing an RICS Level 3 Home Survey:
Scope of Survey:
The scope of the survey can be tailored to meet or fulfill your needs, but it’s important to discuss this with your surveyor beforehand. A standard RICS Level 3 Home Survey will cover all visible and accessible parts of the property, including the roof, walls, floors, ceilings, doors, and windows. The surveyor will also inspect the services (like gas, water, and electricity) and any outbuildings or external structures. However, if you have specific concerns or areas of the property that you would like the surveyor to focus on, be sure to discuss this in advance to ensure that the survey meets your requirements.
Timing
It’s essential to plan ahead and factor in adequate time for the survey to be carried out. A characteristic RICS Level 3 Home Survey can take several hours to complete, depending on the size and intricacy of the property. It’s also imperative to consider that the survey report may take a few days to be prepared, so you should allow enough time to receive the report and review it before any deadlines or contractual obligations. Be sure to discuss timelines with your surveyor and agree on a realistic timescale that works for both parties.
Dedicated Action Plan
One of the key benefits of an RICS Level 3 Home Survey is that it provides an action plan for any defects or issues that are identified during the survey. The survey report will provide a detailed analysis of the property’s condition, including defects, potential problems, and recommended repairs or maintenance. It’s important to review the report carefully and discuss any concerns or questions with your surveyor. You should also obtain quotes for any recommended repairs or maintenance to ensure that you have a clear understanding of the costs involved.
Expertise in Conducting Surveys
When commissioning an RICS Level 3 Home Survey, it’s important to choose a surveyor who has the necessary knowledge and qualifications to carry out the survey. Look for a surveyor who is a member of RICS (Royal Institution of Chartered Surveyors) and has experience in carrying out similar surveys for properties of a similar age and type. You can also ask for references or check online reviews to ensure that the surveyor has a good reputation and a track record of providing high-quality surveys.
Cost
The cost of an RICS Level 3 Home Survey can vary depending on a number of factors, such as the size and age of the property, its location, and the scope of the survey. It’s essential to obtain a clear and detailed quote from your surveyor before commissioning the survey to ensure that you are aware of all costs and any additional fees that may be incurred. While it may be tempting to opt for a cheaper survey option, it’s important to remember that an RICS Level 3 Home Survey is the most comprehensive survey available and can provide valuable insights into the condition of the property that could save you money in the long run.
The Bottom Line:
Getting an expert agency or professional for an RICS Level 3 Home Survey is essential for anyone buying or selling a property, particularly for older or more unusual properties. The experts at KEYS Consulting are very particular about fulfilling these considerations when you reach the agency for an expert survey of the property you want to buy. An RICS Level 3 Home Survey can deliver valued peace of mind and save you money in the long run by identifying any defects or issues that would be expensive to repair or mend.
