There was a move in the late noughties to start to bring about the set criterion for house surveys. Working with the Royal Chartered Institute for Surveyors, the Labour Government wanted to create the Home Buyers survey. This was a document that could be used and understood by all of the stakeholders in the sale and purchase of a property. From this, the Level 2 Homebuyers survey was born. So if you are buying a new home, it’s something that the Conveyancing Cheltenham at Montpelier Legal will need to discuss with you.
However, the choice of the level of survey is up to you. It’s needed because any house purchase carries the Latin warning Caveat Emptor, which translates to “let the buyer beware”. In other words, make sure that the place you’re looking to buy is ok. With most of us not having the skills to check for dampness or roof cracks, it’s a good idea to get the professionals in. Also, the lender will want to know that the home is a safe investment for them should things go wrong.
There are two other levels of survey. Level one is an elementary survey, and this is what you’d pay for a new build or house that is still in the plans stage or half finished. It’s also ok for properties that are under ten years old. A level 3 is an in-depth search for issues with more senior and listed properties. It is the most expensive.