Home survey
A home survey is an inspection of a property's condition by a surveyor, paid for by the buyer. RICS surveys come in three levels.
A home survey is a report on the condition of a property, carried out by a surveyor for the buyer. It looks for defects, repairs that are needed and anything that could cost money later.
A survey is separate from the mortgage valuation. The valuation is for the lender. The survey is for the buyer, who chooses whether to have one and pays for it.
The three RICS survey levels
Surveyors regulated by RICS, the Royal Institution of Chartered Surveyors, follow the RICS Home Survey Standard. It sets out three levels of survey.
A Level 1 survey is the most basic. It describes the condition of the main parts of the home and flags serious problems. It suits newer homes in good condition.
A Level 2 survey looks in more detail and gives advice on repairs and maintenance. It suits most conventional homes in reasonable condition. Some Level 2 surveys also include a valuation.
A Level 3 survey is the most thorough. It suits older, larger or altered homes, or homes in poor condition. The report describes defects, their likely causes and the options for repair.
How a survey is used
All three levels are visual inspections. The surveyor does not lift fitted floors or open up walls. The report gives each part of the home a condition rating, from no repair needed to serious or urgent.
Buyers often use the findings to ask the seller to make repairs or to reduce the agreed price. A survey usually takes place after an offer is accepted and before exchange of contracts, because the buyer is not yet bound to buy.
Survey and sold prices
A survey describes one home. Sold prices show what homes nearby have actually sold for. Used together, they help a buyer judge whether the price agreed reflects the home's condition. Our guide on how to estimate your home's value from sold prices explains how to use nearby sales.
| Paid for by | The buyer |
| Levels | RICS Level 1, Level 2 and Level 3 |
| Most detailed | Level 3 |
| Usual timing | After an offer is accepted, before exchange |
Related terms
Mortgage valuation · Conveyancing · Exchange of contracts · Sold subject to contract · Material information