Surveys
One of the few remaining Latin legal phrases is ‘Caveat Emptor’, which means ‘(Let the) Buyer beware’.
In some countries the seller is obliged to provide as much information as possible when selling a property. Not so here (although this is changing). It is up to you the buyer to find out as much as you can about the property including its state and condition.
So unless you are buying a new property with a guarantee, or are qualified to inspect a property, it is essential you commission a survey.
You will have no recourse to the seller if, after completion, you find some defect in the property.
Choosing a surveyor
The surveyor you choose to survey the house or flat you are proposing to buy should be a member of the Royal Institute of Chartered Surveyors. (You should see the RICS logo on notepaper and advertisements).
(There are other professional organisations, but these are less well known).
As with all professionals, a personal recommendation is the best. If you are instructing a local conveyancer, he or she will probably know a good surveyor.
As always, you usually ‘get what you pay for’ but remember a ‘Self employed’ surveyor may not need to charge vat. whereas a large company of surveyors will be obliged to.
Like all contracts with professionals, you should have a written quote of the cost of the survey which you will be asked to sign. Your surveyor will require the fees to be paid before the survey is carried out.
Types of survey and valuation
Although different organisations give their products different names; there are broadly three types of ‘survey’:-
The RICS describes their ‘levels’ of survey as follows: –
Level 1 – Condition Report
- Best for: New-builds or modern homes in good condition.
- Scope: Provides a basic overview of the property’s condition, identifies urgent defects, and highlights potential legal or safety risks.
- Limitations: Does not provide detailed advice on managing defects or extensive analysis.
- Purpose: Offers reassurance for straightforward properties and is typically the lowest-cost survey.
Level 2 – HomeBuyer Report
- Best for: Most conventional homes, especially those built after 1900 and in reasonable condition.
- Scope: Includes a more detailed inspection of visible parts of the property, such as roofs, walls, windows, doors, and services. Uses a traffic-light system (green, amber, red) to indicate severity of issues. Can be conducted with or without a valuation.
- Purpose: Provides a balanced level of detail, identifies defects, and offers advice on repairs and maintenance. It is the most popular choice among buyers.
Level 3 – Building Survey
- Best for: Older, larger, or non-standard properties, including listed buildings or homes with extensive alterations.
- Scope: Offers a comprehensive inspection of the property’s structure, materials, and condition. Includes detailed analysis, estimated repair costs, and advice on long-term maintenance.
- Purpose: Essential for properties showing signs of wear, movement, or long-term neglect, providing the most thorough assessment
- This is required by your mortgage lender to make sure the property you are buying is worth the price agreed. It is therefore very limited, although it should identify major issues that will affect the property’s value (and so the mortgage lender’s ability to sell should they need to ‘repossess’ it).
(Note; that although you will have to pay your lender for the valuation, it is for the lender’s benefit, and so will not usually cover you if the surveyor makes a mistake).
Therefore unless the property you are proposing to buy is relatively new and still has e.g. the N.H.B.C. guarantee, then one of the following is strongly recommended –
The RICS offer 3 levels of survey: –
Level 1
Level 1 service includes:
• a physical inspection of the property (see The inspection below) and
• a report based on the inspection.
Level 2
This may be described as a ‘middle of the road’ survey and is offered by chartered surveyors.