One of the many reports that our surveyors can provide to clients is the condition survey report. Before we can provide this report, we must first complete a thorough visual inspection of a property. In some instances, the property is a home that a client would like to buy, but that isn't always the case. On the other hand, it may be an office building or an investment property that our clients are looking into for various reasons. Our qualified surveyors will complete the survey and offer the report with valuable details that clients can use to their advantage to spend their money wisely and make better decisions.
What Is a Condition Report?
The condition report includes a lengthy list of details for individuals to go over. Before we provide the report to our clients, we first complete the visual inspection that can take several hours. While it does take a few hours, the time spent on this process is essential and allows us to collect information before including it in the report for our clients to review. Then, once we've gone through the property, we create the report with all the fine details.
The report goes over several components of a property, including its physical condition and electrical condition. People need to know this information, whether they're moving into a home, buying an investment property, or planning to renovate a property they already own. Our surveyors will let you know if they've spotted damage, structural issues, signs of electrical failure, and other frustrating yet common problems. And, if the surveyors do come across these issues, they'll go over the details on what it takes to fix them.
How do I Read a RICS Condition Survey Report?
Like the other RICS surveys, the Condition Survey Report uses a traffic light system with three colour codes (green, amber and red) to indicate any defects found on the property. This system is very easy to use and will provide you with a basic explanation of what damage and defects on the property need attention.
Green indicates ‘Condition Rating 1’, which means that the area in question does not need any repairs and that this area should continue to be maintained as it has been until now.
Amber indicates ‘Condition Rating 2’, which means that the area in question has defects that need repairing or replacing at some point, but are not deemed urgent or serious. Amber areas will probably not impact the value of the property, but will most likely need some maintenance or repair work in the not too distant future.
Red indicates ‘Condition Rating 3’, which means that the area in question has serious defects that need to be repaired urgently or replaced or investigated as a matter of urgency. Red areas should be seriously considered when contemplating the purchase. Sometimes these areas can void the purchase, or be grounds for a re-negotiation due to possible future repair costs.
Is an RICS Condition Report Valuable and Worth the Investment?
The RICS condition report is incredibly valuable. Our surveyors will often provide the information to commercial and industrial clients. The report will cover some of the most critical components of a building, including the following things:
- The structural condition of the property. The report includes details on the property's structure. Our surveyors evaluate all structure parts to check for broken pieces, cracks, sinking ceilings, damaged joints, and more.
- Condition of electrical wiring and equipment. While the property's structure is one of the first things we take the time to inspect carefully, it's not the only thing we'll look at and include in our RICS Condition Report.
- Roofing-related issues. The roof is one of the most critical components of a building, but it tends to get overlooked. Our surveyors know what to look for when examining the property to discover any potential roofing-related issues.
- Water management. This specific type of report even includes information on water management. All buildings should have a plan on handling water properly to keep it from accumulating on the roof of the property or getting into the building when it rains.
- Compliance. Our report will include details on the building's compliance. And, if there are issues that lead to a lack of compliance, we'll be sure to address them for you.
Because our RICS Condition Report includes this information, along with other essential details, it makes sense for our clients to obtain the report once we've completed the condition survey for them. While homebuyers don't typically need this type of report, those investing in large commercial properties, such as offices and apartment complexes can benefit from this service that we provide.
Get a Condition Survey Report Completed by Our Professional Surveyors
Before you commit to investing in a property, you need to know what you're getting yourself into and whether the property is worth what you'll spend on it. As our basic Level 1 Survey, this specific survey typically takes less time than our Level 2 and Level 3 Surveys but still offers valuable insight on buildings and their general condition. Therefore, it's the ideal survey to select when you'd like to learn more about the work that needs to get done to a property to improve its condition and make it usable.
What is included in the Condition Survey Report?
This is a report carried out after our inspection of a building. It establishes its maintenance state and repair condition at that time.
The survey carries out inspections of the building elements, describing them and providing concise details of its current state. It identifies any risks, urgent defects and potential legal issues
The Condition Survey Report is the most basic type of survey we carry out. Although the report gives an overview of the property’s condition and highlights any significant issues, unlike the RICS Homebuyer Survey Report, it doesn’t go into as much detail.
Why Choose London Chartered Surveyors?
We are regulated by the RICS – The Royal Institution of Chartered Surveyors. We offer all three levels of RICS survey.
Whichever level of service you require, London Chartered Surveyors can give you reliable and cost effective support.