Survey Order Form
Level 2 Survey or Automated Valuation Model (AVM)
Find the Best Property Valuation Option for You
Level 2 Survey
A Level 2 Survey (HomeBuyer Report) is more appropriate when purchasing a conventional property in reasonable condition. It provides a detailed assessment of the property’s condition, identifying visible defects and potential issues like damp, structural movement, or outdated installations. Unlike an AVM, which estimates value without a physical inspection, a Level 2 Survey offers expert insights into the property’s fabric and services, helping buyers make informed decisions, negotiate repairs or price adjustments, and avoid unexpected costs after purchase. It’s especially suitable for buyers wanting assurance beyond a basic valuation.
AVM
An Automated Valuation Model (AVM) can be beneficial prior to taking a mortgage as it provides a quick, cost-effective, and reliable estimate of a property’s current market value. This information helps borrowers determine their loan-to-value (LTV) ratio, understand potential borrowing limits, and assess their eligibility for specific mortgage products. Additionally, it assists in making informed decisions when refinancing, securing a better interest rate, or evaluating equity release options. AVMs also reduce the need for a physical valuation, saving time in the mortgage process.
Level 2 Survey Order Form
