How Long Does It Take to Do a Condition Survey Report?
No matter the value, size, condition or type of property that you are considering buying either as an investment or for your next home, experts recommend always having a survey conducted on the property by a chartered RICS surveyor. While it’s not legally required that buyers have a survey conducted on their property, it’s always worth investing in since the results of the survey may be able to tell you things about the home that you were not aware of, and are good to know before you decide to go ahead with completing the sale. A RICS condition report is an ideal survey to choose if you’re buying a home that is fairly new and in decent condition and simply want confirmation that there are no serious issues or problems.
What is a Condition Report?
A condition report is a basic home survey that is designed to provide a basic overview of the condition of a property and any defects or risks. It is the cheapest building survey available; however, it is also the least thorough of the survey options and does not provide a valuation unlike other survey types.
How Long Does a Condition Report Take?
Since the condition report is the most simple and basic survey available, it does not require the surveyor to spend a great deal of time in the property. In general, you can expect a condition report to take no more than two hours, although this can vary depending on the size of the property that the survey is being carried out on.
What Does a Condition Report Cover?
The condition report is a basic type of survey that will provide a general overview of the condition of the property. It will not provide a valuation of the property and does not include any advice on how to deal with the repair work that is needed or the average cost of doing so. When you receive the condition report results, you will get highlights and a summary of any defects found in the property.
A condition report is designed to cover some of the most common issues that are found in properties along with any obvious issues. It will also provide some advice on any legal issues that will need to be dealt with before completing the sale. You’ll get information on the recorded energy efficiency of the property along with more information on the property location and local environment.
Properties That are Suitable for a Condition Report:
Since the criteria of the condition report is quite limiting, this is not a common survey option and many buyers prefer to opt for a more thorough homebuyer’s survey instead. The condition report is a survey that is only typically used for conventional and modern properties that are no more than five years old and in reasonable condition with an easily accessible maintenance history. This survey should not be used for properties that have major known defects, older buildings or unconventional properties. Most of the time, a condition report is used for fairly new build properties that are no longer under the warranty provided by the developer. No matter the age of the property you are buying, a condition report is not recommended if you want to carry out significant renovation work.
What’s Included in the Report?
After conducting the condition report survey on a property, the surveyor will provide you with a report of their findings that should take no longer than five days to complete. The condition report uses a traffic light style system to highlight the findings. This system is easy to understand and provides you with a basic explanation of the defects and damage that are going to need your attention.
Green or Condition Rating 1: This indicates that the area of the property is not in need of any repairs, no defects have been found and it should simply be maintained as normal.
Amber or Condition Rating 2: This highlights any areas that have some defects or are in need of repairs, but are not considered to be serious or urgent. Any issues highlighted as amber are unlikely to have an impact on the property value or be dangerous, but should be dealt with before they get worse.
Red or Condition Rating 3: This rating on a condition report will refer to any areas of the property that need to be replaced, repaired, or investigated as quickly as possible. A rating of red means that the area is in need of serious repair and may impact the value of the property or make the purchase void.
What is Not Included?
Unlike other survey types such as the homebuyer’s survey or structural survey, the condition report will not provide you with any further advice about any defects or problems that have been found within the property, even when rated red and considered to be serious. You may need to get further advice after having the survey carried out if there are defects and issues found in the property since the report will not provide you with recommendations for repairs or an estimated cost of repairing them.
Why Get a Condition Report?
If you are sure that the property you are buying is in good condition and simply want this to be confirmed, then a condition report could be an ideal survey choice for you. However, since the scope of this survey is quite limited, many buyers opt for a more in-depth homebuyer’s survey instead. If you want a survey that is not expensive but provides a more detailed and thorough report of the condition of the property along with advice and recommendations for future repairs and more information on how much the repairs are estimated to cost, a homebuyer’s survey might be a better option for you.
A RICS condition report is a very basic survey that is designed for fairly new homes in reasonable condition. It is a quick survey that takes around two hours to complete and no more than five days for the written report to be delivered to you.