What is a Condition Report?

5 Feb 2016

by Shabari

A Condition Report is the least detailed and cheapest report offered by the Royal Institute of Chartered Surveyors (RICS). Qualified members have the designation MRICS or FRICS after their name.

The Condition Report will offer you more detail on the condition of a your Bracknell property than might be included in a basic mortgage valuation which tends to use standard and generic terminology such as “the property is generally well maintained in context for its type and age”.

A Condition report will offer more detail and is almost identical to that of a Homebuyer’s Report, which costs more. Indeed, the RICS Condition Report adopts the same condition rating system. However, the inspection excludes the requirement for lifting of drain covers, accessing sub-floor areas and only carrying out a head and shoulders inspection of the roof space.

Critically, the report does not include a market valuation or valuation for insurance purposes, for which you would need an RICS Homebuyer’s Report.

If your Bracknell property is older or more unusual you would be well advised to consider a more detailed ‘building survey’ sometimes also referred to as a ‘structural survey.’ Such a survey is more detailed in nature and will cost more as a result. However, in most cases, especially when buying a new home, a Homebuyer’s Report is considered sufficient. In the latter case, make sure you also receive a market valuation and valuation for insurance purposes.

If you need any further advice pleae contact us on 01344 860121.