Our team of surveyors provides a valuable report known as the condition survey report to clients who need it. We can create this report after completing a visual inspection of the building. People hire us to complete this survey and provide the report for many reasons. In most cases, our clients are thinking of investing in a property and want to know if it's in good enough condition to make it worth the price they'll pay for it. So, after we've completed the inspection, we put the report together that includes dozens of essential details.
The purpose of a Condition Survey Report is to ensure that everything about a property is in the condition it should be. A Condition Survey Report is presented with a traffic light coding system to highlight the severity of any problems or defects a property may have that need to be repaired. Green means that there is nothing to worry about, Orange indicates some cause for concern while Red means that serious repairs are urgently required.
- A Condition Survey Report is designed for ordinary, modern, new-build properties that are in a good state of repair and you want the reassurance of knowing that everything is as it should be.
- A Condition Survey Report is intended to accompany a mortgage valuation and not replace it.
- It will also present you with a summary of the property’s defects and any risks that the property may face.
- A Condition Survey Report does not include a property valuation or any advice (unless you request it at an additional cost).
The Best Reasons to Invest in an RICS Condition Report
Investing in an RICS condition report is one of the best decisions anyone could make before buying a property of any size, whether it's big or small. So when we create this report, we're providing the following information and more to our clients to ensure they have the best understanding of the property's condition in advance:
- The property's structure - The condition report will include valuable information on the property's structure. If the structure of a building isn't in good condition, it can cause risks that our clients need to know about immediately.
- The electrical components throughout the building - Although the structure is one crucial component mentioned in the report, there is much more to the report than that. We make sure to inspect and record the findings of electrical components in the building, such as wiring.
- Problems with the roof and roofing materials - The condition of the roof is another detail we include in our condition report. We want our clients to know what condition the roof is in and what it may need to have done to it.
- How to stay compliant - Our report will even include details on the steps our clients must take to ensure they comply with building codes and regulations within their area. Non-compliance is dangerous and can lead to fines for our clients, so we'd like to make them aware of any issues to solve them as quickly as possible.
The RICS Condition Report includes these and other fine details that our clients can use to their advantage. Once we've completed the survey, we provide the report and go over it with our clients to understand the findings. Many people can benefit from having this primary survey completed, including those investing in commercial properties.
How Should I Read A Condition Survey Report?
Similar to the other RICS surveys, a traffic light system is used in the Condition Survey Report with three colour codes (green, amber and red) to highlight any problems found on the property. This system has proven to be very user-friendly and provides a basic account of what damage and issues on the property need attending to.
Green signifies ‘Condition Rating 1’, which means that the area concerned does not need any repairs and that this area should be maintained as it has been to date.
Amber signifies ‘Condition Rating 2’, which means that the area concerned has defects that are in need of repair or need to be replaced at some point, but are not considered serious or urgent. Amber areas will most likely not affect the property’s value, but will inevitably need some kind of maintenance or repair at some point in the future.
Red signifies ‘Condition Rating 3’, which means that the area concerned has major defects that must be repaired immediately, or at least replaced or investigated as a matter of urgency. Red areas must be seriously borne in mind when deciding to make a purchase. These areas are often serious enough to void a purchase, or even justify a renegotiation in light of future potential repair costs.
Does the Condition Survey Take a Lot of Time for the Surveyors to Complete?
A condition survey does not require too much time to complete. Our surveyors arrive on time at the building to get started with the process, taking the correct steps to evaluate the property's condition and create a detailed report to review. The average time to complete this survey is as little as one hour and up to four hours. However, it doesn't take nearly as long as some of the other more comprehensive surveys that we offer. When determining the amount of time our surveyors will take to complete the survey, be sure to consider several factors, such as the size of the building getting surveyed. While we'd never rush the process of analyzing a structure to check for problems, we work in a timely and efficient manner to ensure our clients receive results without delay.
Be Sure to Hire Our Professional Surveyors to Complete Your Condition Survey and Provide the Detailed Report
Spending money on a building with many flaws is a big deal. Not everyone wants to invest in a property that needs a lot of work done to become compliant. We want to make sure our clients invest their money wisely, so we provide our basic Level 1 Survey for those who need it. The survey doesn't take as long as some of the other options we provide. For example, our Level 2 and Level 3 Surveys often take several more hours to complete. Even though it's a shorter survey, our surveyors still take the time and effort to search for any issues.
WHAT DOES A CONDITION SURVEY REPORT INCLUDE?
This is a report that is prepared after a building inspection has been carried out. It establishes its maintenance condition and state of repair at that particular time.
During the survey, elements of the building are inspected and described in the report with concise details of the current condition of the premises in London. A Condition Survey Report will also inform you of any risks, serious defects and potential legal issues that could arise.
The Condition Survey Report does represent the most basic type of survey we perform at London Chartered Surveyors. Although it provides an outline of the property’s current condition and identifies any important issues, it doesn’t go into as much detail as the RICS Homebuyer Survey Report.
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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.