This is a new format report which was introduced by the RICS in 2011 and has been specifically designed as a mid range product and specifically aimed at purchasers who only commissioned a mortgage valuation and who require much more detail as to the overall condition of the building and its various component parts. A typical mortgage valuation will use standard terminology, for example "the property is generally well maintained in context for its type and age" which provides little or no information as to detailed condition. The actual inspection is almost identical to that of a homebuyers survey and the RICS Condition Reports also adopt the condition rating system.
However, the inspection excludes the requirement for lifting of drain covers, accessing sub-floor areas and only carrying out a head and shoulders inspection of the roof space.
The Home Condition Report would also be very useful to vendors to identify outstanding issues and carry out remedial works prior to marketing.
It is vitally important to note that this report does not provide any repair advice or any advice relating to the property's market value or its reinstatement value for insurance purposes. For this extra detail please choose the Homebuyers Survey and Valuation option.Request a survey and valuation