What a Level 2 Home Survey tells you
A Level 2 Home Survey, also commonly called a HomeBuyer Survey or HomeBuyer’s Report, is generally suited to conventional properties in reasonable condition. It uses condition ratings and plain-English commentary to explain visible defects and priorities.
What a valuation tells you
A RICS valuation provides an independent opinion of value at a stated date using market evidence and professional judgement. A lender’s mortgage valuation is primarily for the lender and is not a buyer’s condition survey.
When both may be useful
Condition and value are related but not interchangeable. Where defects, an unusual property, lease issues or a strongly priced purchase create uncertainty, buyers may benefit from both forms of advice.