Used by both buyers and sellers, an RICS condition report is primarily utilised within the residential market as a method of showing problems in both newer and older buildings alongside evidence of the property’s condition.
Before buying a property, it can be preferable to see evidence of the building’s condition, particularly if it is old or there are potential concerns over the condition following uncertainty caused by the seller, debatable issues flagged during the property survey valuation, or a surprisingly low asking price that contradicts the perceived quality of the property.
Likewise, the seller of the property may see benefits of providing transparency over the current condition of the property they are selling. For instance, offering evidence of the property’s condition could contribute to selling the property quickly or justify setting an ambitious purchase price to potential buyers.
Sometimes titled a RICS condition report, home condition report (HCR), property condition report, level 1 condition report, or simply as a level 1 survey, a condition report is a form of building survey and further investigation in the form of a professional and objective report designed to reflect the current standard of a property to potential first-time or second-time buyers prior to purchase.
A condition report is an opportunity for a potential homebuyer or seller to see a basic overview of a property with highlights of immediate risks and maintenance options and requirements following more comprehensive surveys on a room by room basis. Suiting a number of purposes, a RICS condition report can be requested by clients for a variety of purposes and are often utilised for analysing an existing dwelling in a reasonable condition, typically conventional buildings that are less than five-years-old.
Most commonly, a client selling a property would acquire a level 1 condition report with the purpose of removing any concerns and increasing the desirability of their property. It isn’t uncommon, however, for someone to ask for a RICS condition report as a method of gaining assurances over a property they are looking to buy.
As a condition report is often created for clients buying or selling conventional properties, they are written and presented in a style that avoids lingo, simplifies important factors as much as possible, and is easy to understand. However, in certain circumstances, a RICS condition report may also be used in commercial projects to indicate the value of existing infrastructure, as well as in the commercial and residential rental market to reflect a standard before and after entering into a rental agreement, protecting both landlords and tenants.
In order for a mortgage provider to determine the value of a property, they will conduct a brief property valuation survey. One of the more comprehensive surveys is a homebuyer report, which some property buyers will arrange as thorough building surveys or home surveys to establish an extensive understanding of a property and an in-depth overview of all potential flaws before completing the process.
While each form of building survey governed by the Royal Institution of Chartered Surveyors (RICS) offer numerous advantages and disadvantages, a condition report acts as the most basic survey and bridges the gap between a provider’s mortgage valuation and a RICS homebuyer survey:
RICS Condition Report (Level 1 Survey)
RICS Homebuyers Survey / Homebuyers Report (Level 2 Survey)
RICS Building Survey (Level 3 Survey)
Below, we have provided a list of benefits to choosing a level 1 condition report survey ahead of a level 2 homebuyers survey, level 3 building surveys or other similar alternatives:
A key similarity between a RICS condition report and a homebuyer report is that both use the same traffic light system to grade both obscure and obvious defects on the property identified during home surveys or building surveys. The traffic light rating is formed from four stages, ranging from major issues that are considered urgent at a rating of three to confirmation that no attention is needed at a rating of one, as well as a stage that reflects no inspections are needed or that none were carried out.
For an indication of how the system works, see the image below:
The Condition Rating Traffic Light System –
All of the assessments we offer to clients are conducted under strict specifications and standards to ensure that they are carried out with a level of accountability and consistency. Currently, we operate under the new home survey standard as introduced by RICS in March 2021.
We work on behalf of clients to provide advice and a service that suits their needs and requirements, so if they have certain specifications to achieve predetermined goals, we are happy to adjust our approach to factor in these considerations providing they don’t harm the integrity of the assessment. However, we universally follow the guidelines of the Royal Institution of Chartered Surveyors (RICS) to guarantee an expected standard in all building surveys we undertake.
As a method of visually explaining how a typical report would look, RICS published an empty condition report example online. You can see this yourself or read our easy to understand breakdown of what you would usually find in a completed RICS condition report below:
In the whole process of selling an old or new property, one of several financial considerations is the option of requesting a RICS condition report. Alongside the numerous fees that accumulate through putting a property up for sale – as well as the fees from purchasing a new home – a level 1 condition report may seem like an unnecessary additional component to pay for.
A RICS condition report, however, offers a multitude of benefits that could contribute to a quicker sale and a higher purchase price, helping to save money in the long run. As such, whether you are selling a property or are looking to buy a new property, it can be worthwhile to factor a level 1 condition report into your budget.
Our pricing structure for a RICS condition report is based on the size and nature of your property. Factors that could affect the cost of a level 1 condition report include the type of property (terrace, semi-detached, detached etc), quantity of bedrooms, bathrooms, other rooms within the property and outbuildings, and the value of the property. Simply provide us with these details, as well as the address of the property, and we will be able to help you with your enquiry and produce an accurate quote.
On average, the cost of a reasonable condition report would range between £200 and £450. However, the price will be higher if other surveys are included, or if a more detailed and in-depth survey needs to be added following the identification of certain features in the property. A common example of an assessment that could be conducted simultaneously would be an Electrical Installation Condition Report (EICR).
Alongside the broader RICS condition report, The Survey House offers in-house expertise into other specific features within a property, including periodic inspection and testing of the property’s fixed wiring in the form of an Electrical Installation Condition Report.
Also known as a landlord safety test or homebuyers test, an Electrical Installation Condition Report (EICR) is a regular assessment of the safety of a property in relation to fixed wiring. An EICR inspection is usually carried out every few years to ensure that there are no issues with the wiring that could pose danger to the property or its inhabitants such as electrical shocks or fires.
Over the course of an Electrical Installation Condition Report, a qualified electrician will be required to tick several boxes. For instance, the electrician will need to check that all electrical installations are safe and free from shock risk before providing results of the inspection in the report. At this point, they will also identify any signs of wear and tear that could impede safety, and ensure that the installation of electrical items has been completed correctly in accordance with IEE Wiring Regulations BS 7671. Within the report, the electrician will detail whether the installation is satisfactory or unsatisfactory and update ongoing records of the condition of the electrical installation.
After an electrician has carried out a visual inspection on the electrical installations within a property and completed the EICR, the client will receive the comprehensive yet easy to understand report split into several core sections.
An Electrical Installation Condition Report will typically include:
As with the pricing of condition reports, the cost of an Electrical Installation Condition Report will be determined by the details of the property and the number of rooms being inspected.
An EICR would usually cost around £125 for one bedroom or somewhere over £300 for five or more bedrooms. However, as numerous factors can affect the price of an inspection, it would be advisable to speak to us directly so we can review the details of your property and provide you with a bespoke quote.
Unlike a service provider with a set price, we will make your quote tailored so we only charge you what you need to pay and you can save money, whether we are working with older homes, conventional buildings or fairly modern buildings standing for less than five years.
Following years of experience providing professional advice and identifying possible risks, The Survey House is a trusted and reliable option for a RICS condition report and any other type of survey involving assessing your property’s condition. As a level 1 condition report will require varying degrees of insight and knowledge, our qualified chartered surveyors and any supporting structure engineers are licensed and capable of providing professional advice over the course of a detailed survey.
Each of our chartered surveyors are suitably educated with relevant qualifications from recognised institutions and accreditations from relevant governing bodies. We also guarantee that the surveyor sent to your property for a RICS condition report will possess the necessary experience and expertise to undertake an assessment to a high standard and create an accompanying report capable of reaching your specifications and achieving your goals.
We are aware that a RICS condition report may be required anywhere in the UK, so as a result, we have done all we can to cover as many areas across the country as possible. Through our company structure, our licensed chartered surveyors are situated all over the UK, meaning that we are available to carry out the right survey on different types of property in your local area, assessing your property’s condition and making an informed decision as part of a level 1 condition report, with no limitation based on the type of building surveys you need or your location.
Our clients often contact us in regards to different types of the services we provide. In terms of an RICS condition report, you may be a landlord in the process of renting out conventional properties under a specific property type and need a basic overview showing problems and obvious defects on the properties, or you may be a homeowner that owns a conventional house and wants evidence of building control issues and control matters alongside obvious surface level issues that need repair work on the property.
It could even be the case that you are in the process of buying a new home and have been recommended by legal advisers to obtain information that isn’t easily accessible, maintenance history, or proof of repairs required on the property to make an informed decision before completing the overall purchase. If you are aware of the service you need or require help with navigating the right survey, get in touch with us, and our friendly team can offer support with arranging a RICS condition report in your local area or, if necessary, point you in the direction of a more detailed survey you need – such as an EICR – on your property.
For a free quote without obligation, call us directly, fill out our quick quote form or visit our contact page. You can then give us information about your property type and the purpose of the RICS condition report, and we can provide advice on the most suitable type of survey before pricing up a bespoke quote based on your details.
Whether you are working on fairly modern conventional properties, older homes, a non-standard construction with any number of different types of problems such as repair work needed, obvious defects, uncertain and possibly not easily accessible maintenance history or building control issues, speak to our team and we can guarantee a competitive price and professional advice through an in-depth detailed survey and other applicable further investigations with one of our chartered surveyors.
We know that you want your Condition Reports done quickly and efficiently to avoid delays and to help your project run smoothly. Our simple process makes everything hassle free and straight forward.