RICS Condition Reports

The Royal Institution of Chartered Surveyors (RICS) has launched a new type of Survey. It is a lower cost option that is suitable for comparatively modern property which are in seemingly satisfactory condition. Unlike a mortgage valuation, which is prepared primarily for the lender to ensure a property is adequate security for loan purposes, the Condition Report is a Survey for the buyer reporting on the condition of all the main elememts. It is presented in a clear colour-coded format with Condition Ratings for all the main elements.

‘The latest addition to the RICS Home Surveys family, the RICS Condition Report offers a concise overview of the condition of a property, complementing a mortgage valuation. The report provides a brief description of the construction and condition of a property, highlighting any major risks and legal issues. It does not include a market valuation, reinstatement cost, or repairs or maintenance advice.’ RICS

RICS Condition Reports will be cheaper than the RICS HomeBuyer Report starting from £200 for property below £250,000 in Value to £300 for property between £250,000 and £500,000. Please call us for further information.

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