The Building Survey (Level 3)
When you are buying a new home, you want to make every penny count. It might be tempting to assume that a mortgage valuation carried out for your lender will provide you with the reassurance you need regarding the condition of the property and future maintenance liabilities, but that’s not what it is intended for and you could be faced with significant unplanned repair costs.
Buying a home can be one of the biggest financial commitments you are likely to make so it is important to know as much as you can about the property you are thinking of purchasing.
You should choose an RICS Level 3 Building Survey (formerly called a structural survey) if you’re dealing with a large, older or run-down property, a building that is unusual or altered, or if you’re planning major works.
An RICS Level 3 Building Survey Report will cost more than some other types of survey, such as an RICS Homebuyer Survey Report, but it will give you more detail on the state and condition of the property, which you’ll find of great value when assessing if it’s the right property for you.
This building survey report will enable you to:
Make an informed decision on whether to go ahead with buying the property
Decide what is a reasonable price to pay for the property
Take account of any repairs or replacements the property needs
Consider if you need any further advice before exchanging contracts
What's included in a Building Survey (Building Survey Level 3)
Our RICS surveyor will have a broad knowledge of your chosen area, types of local property, and issues to look out for. You can trust their detailed assessment to give you confidence by being completely sure of what you’re buying.
During the inspection the surveyor will look over the roof, walls, pipes, timber, and other visible aspects of the home to check for significant defects. The report is provided in a PDF format which you can easily send to your solicitor.
The report will provide detail on the condition of the various elements of the property, which you’ll find invaluable when assessing whether or not it’s right for you.
The Survey is usually carried out in the morning, access permitting, and the report is prepared and finished the same day so there is no hold up in the process and you will have a detailed report of the condition of the property.
Condition Rating System
The Building Survey (Level 3) uses an easy-to-follow Condition Rating system:
Condition Rating 3 (red)
Defects that are serious and/or need to be repaired, replaced or investigated urgently
Condition rating 2 (amber)
Defects that need repairing or replacing but are not considered to be serious or urgent
Condition rating 1 (green)
No repair currently needed
Fox Property Consultants undertake Building Surveys (Level 3) Reports in Bournemouth, Poole, Wimborne, Christchurch, Dorset and surround areas and have excellent local knowledge to understand any potential issues.
If you are unsure which type of survey, you need or you want some further advice on the types of survey we undertake please call us on 01202 531919 or contact us HERE and we’ll be happy to guide you through the process and give you a survey quote today.
Guide to Surveys
Click the link below for a guide to the types of surveys from the RICS Guide to Surveys
