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Timestamps
0:00 What are the differences in reporting between a Level 2 and Level 3 Survey?
0:57 Schedule of accommodation
1:48 Cost estimates
2:57 Detail
4:22 Energy efficiency
5:24 OK, but I still don't know what type of survey I need!
6:49 How can Harrison Clarke help?
It can be confusing to know which type of survey to choose, and which will be most appropriate to your circumstances. After all, most of us do not buy property very often, and for some people this might be a once in a lifetime event. It is important to choose the right survey and not doing so could be costly - either because you will end up paying too much for a complicated survey, or if you choose a more basic survey, you might need to follow up with more detailed investigation if defects are found.
We have separate explainer videos about what each of the Level 2 Homebuyer report and Level 3 Building surveys, but this video seeks to explore how Level 2 and Level 3 written reports differ.
This is a fairly minor difference in the way the reports are written. A Level 3 report will detail the accommodation provided, such as bedrooms, bathrooms and living rooms etc. We find that sometimes estate agents can be over confident with what can constitute a bedroom, for example, and this can help to settle any differences of opinion. While we do not (currently) provide market valuation advice, we do know that an additional bedroom for example can add significant value, and if a room does not meet bedroom standards, this can have an impact on the value and saleability of a property.
If you notice anything unexpected in this part of the report, your surveyor will be pleased to discuss the reasons why with you.
The schedule of accommodation is excluded from a Level 2 report.
Both surveys will set out recommended remedial work, but the Level 3 survey will also provide cost estimates for recommended work, as far as is practicable. Sometimes only a very ‘ballpark’ order of costs can be provided, particularly if further intrusive investigation is required, for example to address dampness. Construction prices have been fluctuating dramatically in recent years, and so the costs suggested are not market tested. If it is critical that costs are known, you must ask contractors for estimates.
Cost estimates are normally set out in the body of the text, but are also carried forward to the front end of the report, so you can see in one place all costs set out within the report.
The benefit to having cost estimates within the report is that if unexpected defects are found, you might be able to negotiate a price chip with the vendor to reflect these defects, without having to arrange for trades to provide their own estimates, which can take valuable time.
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