For additional information about the RICS Condition and HomeBuyer Reports and the Building Survey, including the differences between them, click on the image below to open the RICS publication 'Home Surveys Information Sheet'.

Home Surveys Information Sheet

Valuation:

Valuations are carried out for a whole variety of different purposes for which there are a number of appropriate valuation bases (see note below). They are formal written documents giving a simple description of the property being valued, including comments on location, construction, accommodation and any special features, and its general condition as noted from a cursory inspection.

Note: All valuation reports are prepared in accordance with the RICS Valuation Standards, known in the profession as the ‘Red Book'.

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Terms of Engagement for Valuation

RICS Condition Report:

The RICS Condition Report is an objective report on the condition of the property at an economic price. As a result, it is necessarily less comprehensive than an RICS HomeBuyer Report or a Building Survey.

The focus of the service is on making an objective assessment of the general condition of the main elements of the property, expressed in terms of condition ratings. The report is confined to the condition of the property at the time of inspection; it does not give advice on maintenance liabilities or the future performance of elements or materials. Condition ratings are applied to the various elements of the building, the services, garages and permanent outbuildings to tell you whether defects are serious or urgent.

It is suitable for conventional houses, bungalows and flats built from traditional materials and in reasonable condition. The report is suitable for both prospective and existing homeowners (buyers, sellers and landlords), and is a particularly useful report for existing homeowners wanting a 'health check' on their property.

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Terms of Engagement for the Condition Report Sample Condition Report

RICS HomeBuyer Report:

The HomeBuyer Survey Report is a mid-priced report designed by the Royal Institution of Chartered Surveyors (RICS) aimed to help the purchaser:

• make a reasoned and informed decision on whether or not to go ahead with buying the property;
• make a reasoned and informed decision on what is a reasonable price to pay for the property;
• take account of any repairs or replacements the property needs; and
• consider what other advice to take before exchanging contracts.

The Homebuyer Survey is particularly suited to traditional houses, bungalows and flats that are in apparently reasonable condition and identifies what are considered to be the most important defects and issues affecting the property. Condition ratings are applied to the various elements of the building, the services, garages and permanent outbuildings to tell you whether the defects are serious or urgent.

The report also includes the surveyor's opinion of the market value and reinstatement cost.

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Terms of Engagement for the HomeBuyer Service Sample HomeBuyer Report

Building Survey:

A Building Survey is suitable for any residential property and provides a comprehensive picture of its construction and condition.

If the property is extensive, has been altered or is in a run down condition, this report is more appropriate as it has the scope to give all the information you will need.

A Building Survey is a much more descriptive report, which can be designed around your specific requirements. The report includes:

• a comprehensive appraisal of the means and materials of construction,
• an analysis of significant defects revealed and advice on appropriate further actions,
• identification of less significant defects, general disrepair and shortcomings in the physical condition, maintenance and design of the building.

A buildings insurance figure or market valuation are not part of the standard report but can be included for an additional fee.

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Terms of Engagement for the Building Survey Sample Building Survey Report

Defect Diagnosis Report:

A Defect Diagnosis Report will be carried out where concern exists over specific parts of, or defects in, a property. The scope of this type of inspection will be specific to each individual job and, if necessary, the brief may be altered as findings on site dictate.