RICS Condition Report
A clear consise picture of the property with "traffic lIght" ratings.It shows the condition of the property, offers advice to legal advisors and highlights details of urgent defects. It does not provide an additional valuation, but sits alongside a mortgage valuation.
Condition Ratings
The report:
Must be carried out by a RICS member
Must be written in plain English and not include technical jargon
Gives you comprehensive information on any defects to the property,
reducing the chance of nasty surprises later on
Benefits of a RICS Condition Report
Sellers
You have an early opportunity to carry out repair work on the property or get quotes before marketing your property. By giving buyers a clearer idea of your property, it reduces the risk of a buyer pulling out later in the process due to an unforeseen problem and gives your property an additional selling point.
Buyers
If the seller has included a RICS Condition Report, you can use it at the beginning of the home-buying process to reduce the risk of being faced with unexpected repair bills and other surprises when you buy the property.
Buyers and their mortgage lenders have a legal right to rely on the report, so you can give the report to lenders when they make their valuation. This means they may not have to repeat a detailed site inspection at your cost.
The RICS Condition Report will cover the following areas:
The condition of the properties exterior, including structural stability, condition of the roof, water tightness and decorative condition.
Internal condition including walls, floors, ceilings, roof structure etc.
Services including gas, electricity, heating, water and drainage.
Grounds, boundary walls, outbuildings and common facilities.
An Energy Performance Certificate.
Any property related issues that may cause health and safety problems
A clear consise picture of the property with "traffic lIght" ratings.It shows the condition of the property, offers advice to legal advisors and highlights details of urgent defects. It does not provide an additional valuation, but sits alongside a mortgage valuation.
Condition Ratings
 |
Defects that are serious and/or need to be repaired/replaced or investigated urgently |  |
Defects that need repairing or replacing but are not considered to be either serious or urgent. The property must be maintained in the normal way. |  |
No repair is currently needed. The property must be maintained in the normal way. |
The report:
Must be carried out by a RICS member
Must be written in plain English and not include technical jargon
Gives you comprehensive information on any defects to the property,
reducing the chance of nasty surprises later on
Benefits of a RICS Condition Report
Sellers
You have an early opportunity to carry out repair work on the property or get quotes before marketing your property. By giving buyers a clearer idea of your property, it reduces the risk of a buyer pulling out later in the process due to an unforeseen problem and gives your property an additional selling point.
Buyers
If the seller has included a RICS Condition Report, you can use it at the beginning of the home-buying process to reduce the risk of being faced with unexpected repair bills and other surprises when you buy the property.
Buyers and their mortgage lenders have a legal right to rely on the report, so you can give the report to lenders when they make their valuation. This means they may not have to repeat a detailed site inspection at your cost.
The RICS Condition Report will cover the following areas:
The condition of the properties exterior, including structural stability, condition of the roof, water tightness and decorative condition.
Internal condition including walls, floors, ceilings, roof structure etc.
Services including gas, electricity, heating, water and drainage.
Grounds, boundary walls, outbuildings and common facilities.
An Energy Performance Certificate.
Any property related issues that may cause health and safety problems
