RICS Home Condition Surveys
RICS Home Condition Report:
The Report can be used by potential buyers at the beginning of the home buying process to ensure they are not faced with unexpected repair bills and other unforseen costs they cannot afford.
Sellers who provide a Home Condition Report will have an early opportunity to carry out repair work on the property or obtain quotes prior to marketing.
Mortgage lenders can also use the reports to inform their valuations, reducing the need to repeat a detailed on site inspection at the buyer’s expense.
What Does A Home Condition Report Contain?
A Home Condition Report upholds the physical condition of a home/property in a standard format. It provides details about the structure and condition of the home on the date it has been inspected. Condition ratings are also done as part of HCR’s; the rating, of course, is focused on the major parts of the main building.
House-owners, therefore, get to know about major defects and/or damages; the minor problems are not dealt with in an HCR. In the current marketplace, the presence of an HCR provides the sale process with documented transparency and engenders the confidence and security that a buyer requires to complete a sale transaction. Whether you are a buyer or a seller, a Home Condition Report will enable a successful and smooth sale process.
RICS Condition Report:
Shows the condition of the property using the traffic light system, offers guidance to legal advisor’s and highlights any urgent defects. Typically the lowest priced of the surveys, it is aimed at conventional properties and newer homes.