RICS Condition Report
The Condition Report was introduced by the RICS fairly recently as a minimized report for the budget conscious.
Basic, easily read report…
As a quick reference guide we have called this the 'Bronze' basic Report.
It may be considered unsuitable for larger properties as well as anything out of the ordinary or of a period nature.
Our experience is that not many buyers have heard about this report but it is now quickly gaining popularity perhaps as it is beginning to fit well into today's property market with values being questioned less and current condition ranking high on the agenda whilst survey costs are minimized.
features coded checklist
It has the colour coded, ready reference guide to highlight the good and bad aspects of a property as you will see from the "Sample Report" above, should you wish to download it.
Whilst there is property the report will not be suitable for, we can advise that they have to date been undertaken on purchases even up to the value of just over £1 million.
So whilst they may be called a budget report it does not mean they are for budget property.
…but essential pieces inc.
Essentially designed as a follow on from the success of the HomeBuyer Report, the RICS introduced the Condition Report in April 2011 as a simplified version for the budget conscious.
For this the valuation element was excluded and whilst the report will no less state what defects there are to be found, there are no accompanying recommendations.
If you know what you're doing when it comes to maintenance and don't need a valuation, maybe this is the report for you.