RICS Building Condition Report

The RICS Building Condition Report is a new type of survey introduced by the Royal Institution of Chartered Surveyors (RICS) in June 2011 for the residential property market. The report is in a set format and provides a clear, concise picture of the condition of the property.

The Condition Report is aimed at buyers who would otherwise rely on a lender’s mortgage valuation.

Other types of clients benefitting from the report will be landlords wanting to assess the condition of their investments and sellers looking to highlight any problems that may potentially impact on a future sale.

The Condition Report is backed by the RICS and written in plain English, using the easy to follow ‘traffic lights’ ratings system. The report also offers details of urgent defects and a section offering advice for legal advisors.

The report will not, however, comment upon services or installations in detail, nor will it allow for any detailed opening up or investigation. It does not recommend methods of repair or associated costs but simply states that defects are present.