RICS Condition Report (Level 1)
At Foundation Surveyors, our team of experienced Chartered Surveyors in London carries out specialist inspections and surveys for a wide range of residential and commercial property. Operating from four offices across London and Essex, we can conduct property inspections and Condition Reports anywhere in the capital and beyond.
A property purchase is a major investment that no-one should undertake without proper due diligence. Even if you are buying a new-build or recently built home, it is still important to find out the condition of the building before you sign on the dotted line.
The RICS Condition Report (Level 1) will give you an overview to help you understand how the property was constructed, the condition it is presently in, what if any serious problems there are, what needs attention now and whether any further inspections are needed before you commit to the purchase. This relatively new report was created to give you an economic report capable of providing you with the kind of details you need that a Mortgage Valuation cannot.
This will provide you with a clear picture and understanding of the exact condition of the property that you are planning to buy. A Mortgage Valuation is not the same thing as a survey. The RICS Condition Report (Level 1) will give you a clear and concise evaluation of the condition of the property. This is your independent survey, for your eyes only, and not your Lender’s. A section of the report offers advice for your Solicitors giving a written summary of any potential risks associated with the purchase of this property.
We use an easy to interpret coding system laid out by the RICS to outline any major defect(s) consisting of familiar traffic light symbols of red, amber and green, to rate individual aspects of the property, highlighting any areas of concern. Our report will cover all areas of the property and all aspects of the purchase, risks as well as legal considerations.
If you are buying a brand-new or nearly-new home and would like some peace of mind that everything is as it should be, a Condition Report is a good choice. The aim of a Condition Report is to document the construction and condition of a property on the date of inspection, verifying that everything is in good order or flagging any issues that need further investigation.
It’s important to know that a Condition Report provides less detail than a HomeBuyer Report (Level 2) or a Building Survey (Level 3), which we would generally recommend once the building is more than 3-5 years old or has any noticeable signs of disrepair.
The Condition Report will offer an objective overview of the property’s main elements and assign ratings to their condition. After a brief description of the property’s construction, each internal and external element will be listed alongside its rating and some brief explanatory notes.
If the surveyor is concerned about any aspect of the property, this will be documented and made clear in your report. This includes any defects that need urgent attention or pose a serious risk to health or safety, and any issues that need attention to prevent damage to the building in the future.
As laid out in the RICS guidelines, our Condition Surveys involves a visual inspection of the inside and outside of the main building and any associated outbuildings. This will include outside areas such as boundary walls, shared-use areas and leisure facilities – although the surveyor will not provide a detailed report of these facilities. It will also include loft space (viewed from the hatch), basements, cupboards etc., providing they are easily accessible.
The Condition Report is a visual inspection only. Locked areas will not be forced open, secured panels will not be lifted and contents will not be moved. This includes services and utilities – only visible components will be documented, and a surveyor is not qualified to conduct a professional assessment of boilers, electricals etc.