We are independent chartered surveyors covering London, the South East and Kent. We provide residential valuation and survey advice for private clients. We offer Building Surveys (formerly known as a Structural Survey or Full Structural), RICS Homebuyer Reports, Valuations and a range of other services including pre-auction surveys and building reinstatement valuations.
RICS Homebuyer Survey
Survey Level 2
What is a Homebuyer Survey?
A RICS Homebuyer Survey is not as in-depth as a the RICS Building Survey but more comprehensive. The survey is classed as survey level 2 and is RICS’s most popular survey. The cost of the Homebuyer Survey will depend on the size and value of the property to be inspected.
The Homebuyer Survey is a non-intrusive visual inspection, in which your surveyor will inspect visible areas in the property such as ceilings, roof, walls, and bathrooms, as well as permanent outdoor buildings and features including roofing, pipes, gutters, walls, windows, and doors. They will not, however, lift up floorboards or carpets or move furniture.
The Surveyor will report on the condition of your home and highlight any defects within the property and rates these issues in terms of seriousness using a traffic light coding system. Level 1/green indicates that no action is required, 2/amber indicates that defects need repairing but not urgently, and level 3/red indicates serious defects that require urgent attention and repair. This allows you to evaluate the condition of the property and determine what action is needed.
The Homebuyer Survey is undertaken by RICS Chartered Surveyors and is suitable for properties up to the 1930’s, conventional and modern homes in a reasonable and good condition.
For older, non-standard, or more dilapidated homes, a more detailed Building Survey is recommended.
RICS Homebuyer Survey with Valuation
Survey Level 2 with a valuation
If you opt for the Homebuyer Report with a valuation included, you will additionally receive a valuation of the property which can be used to negotiate its price. Your surveyor will also provide you with a reinstatement value, which is an estimate of the cost of rebuilding the property for insurance purposes.
RICS Building Survey
RICS Level 3 Home Survey
A Building Survey or RICS Level 3 Home Survey will provide you with a very in depth knowledge of the condition of the property you want to buy. The new name for this type of residential survey is the Level 3 Home Survey as defined by the Royal Institution of Chartered Surveyors (RICS). The report falls in line with guidance notes as defined by the RICS.
Within the Level 3 Home Survey, you’ll be given technical information regarding the description and construction of the building and an explanation of any defects-minor and major. The Surveyor will include photographic evidence of these defects within the body of the report. The cost of the Building Survey will depend on the size and value of the property to be inspected and any additional services if required.
The advantage of this report is that it can be customised to suit your purposes and can include for example itemised estimated costs of repair which other reports are not designed for. We can also include other services such as a market valuation to provide an opinion of the value of the property in it’s current condition. You may also need a building reinstatement value where you require an insurance quote.
Typically a Level 3 Building Survey is needed if the property has an unusual construction, is in a poor state of repair, has been extensively altered or extended or major conversion or renovation work is planned. A Level 3 Home Survey can be tailored to your individual needs and focus on certain aspects of the property that may be causing you concern.
Once you have your building Survey Report, you will be able to make a more informed and reasoned decision when it comes to buying a property in the UK or planning how much it would cost to turn a building into your dream home. It is also key for property developers hoping to upgrade a building and either rent it out or sell it for a healthy profit.
Market Valuations
What's included in a Market Valuation
It makes sense to seek an accurate valuation of the property your interested in by highly experienced, RICS-qualified surveyors. A Market Valuation is an estimate of a property’s true value in the current market.
The Market Valuation report summaries a property’s overall condition, its size and location, to provide an accurate assessment of the current market value of the property. The valuation survey does not go into full details regarding defects, or cost estimations on any repairs that may we required.
To assess the valuation we would include the following criteria:
- The property size and its location
- The property’s condition and any obvious defects
- The age of the property
- The quality of the fixtures and fittings within the property
- Any outside space, such as off-street parking, side access and garden/terrace
The property’s proximity to public transport and local amenities
Whilst a Market Valuation doesn’t include detailed information on any defects, or provide average cost estimates for any repairs that may be required, it does provide you with an important overview of the property and it’s true value.
We carry out valuations for Probate, Inheritance tax, Shared Ownership and Right to Buy.
For a more detailed assessment of the property, opt for either a HomeBuyer Survey or a Full Structural/Building Survey.
Other Services
Pre-Auction Survey
When buying a property at auction, there is a limited amount of time to get a survey done and make an informed decision whether to go ahead and try to purchase the property.
We will inspect property prior to auction, on your behalf, including any surrounding ground, outbuildings and the area, advising on whether it is our recommendation to go ahead or not. Our most popular service is to provide a verbal opinion of defects or issues obvious on inspection. If you are planning renovations or extensions our team can help you with this too.
Insurance Reinstatement Valuation
What is the purpose of an insurance reinstatement valuation?
The reinstatement cost (also known as rebuild cost or building sum insured) of your home, is the amount it would cost to completely rebuild the property from scratch if it were totally destroyed, by a fire for example. It includes, costs of clearing the site, materials, labour and professional fees.
It is not the same as the value of your home. Reinstatement costs are for an accurate reconstruction of your property whereas market value is simply what the property is worth as a whole finished product.
Greenleigh Surveyors can provide professional advice on the estimated reinstatement costs of your asset for insurance purposes, ensuring the continued protection of your investment. Our valuations use the most up to date data provided by the Royal Institution of Chartered Surveyors Building Cost Information Service.
Property Advice
With a our experienced RICS Surveyors and trusted builders and tradesmen, we feel that we are in a position to help and support our Clients and members of the public.
We offer free support and advice to our Clients who have had a survey report and right up to exchange of contracts. This will include analysis of the report and general property advice if required.
We also offer support to non-Clients and members of the public who may have had a report prepared but need interpretation or analysis of the report. You may also be looking for general support and advice regarding property matters.
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