In recent months you may have come across the terms Home Survey Standards and/or Level 3 survey. However, if you are unfamiliar with the industry, you may be unsure as to what these terms mean exactly.
That is why the team here at White Horse Surveyors have put together the following article to explain the term and what it means for Surveying.
What Is It?
A reassessment from the RICS (Royal Institution of Chartered Surveyors) of current Surveying standards that aims to refine the process and allows for three major changes. These include:
- Additional consistency
- Facilitation for increased use of technology
- Benchmarking of standards
The new statement from RICS also makes a significant effort to differentiate between a Home Survey and a Valuation.
For instance, a Valuation may be added to either Level 2 or 3 surveys as an agreed part of the service.
Why Is It Changing?
The RICS have issued these new standards in their ongoing efforts to improve not only the consistency of Residential surveys but also the transparency and proficiency at which Surveyors produce these reports. Meaning that RICS reports will stand alone as the unparalleled standard for home surveys.
More specifically, there is an increasing emphasis on the set up of the service with more time being spent on elements such as:
- Terms of Engagement
- Disclosure of Information
- Relevant Information for Surveyors (e.g., Covid policy, parking access, etc)
In the new survey standards, there is also a greater stress on any potential conflict of interests.
What Does it Mean for Home Buyers & Sellers?
Although these technical aspects will not seem completely relevant to our customers, from the perspective of our clients these changes will mean significant improvements to our customer service, including:
- Clearer description of the report’s content for customers
- Vital details are more clearly presented
- Surveyors will adhere to an up-to-date set of standards
Generally, these amendments are intended to fill a previously identified lack of clarity for those unfamiliar with surveying and/or the housing market.
If you require a HSS Level 3 survey and require independent advice on your best course of action, please do not hesitate to contact our helpful and friendly sales team.
Simply drop us an email via email@example.com.
Get an instant quote here.
If you have enjoyed reading this article about HSS Level Three surveys and would like to learn more about the different kinds of property reports, simply check out our list of related articles below: