Condition Report: Better to have, and NOT to be without.
Before you buy a property, it is a good idea to understand the condition of the building. If the building is old or if there are issues that could be potentially costly, a condition report can provide an impartial, third-party view of the current state of repairs and maintenance at a property.
What is a condition report?
A condition report is an independent assessment of the condition of a property. It is also known as a Survey. A condition report is one of the most basic surveys, though it is still important to obtain when transacting on a property. The condition report, as we’ve mentioned, offers a surface level overview of the condition of the property. A building survey, on the other hand, is a comprehensive survey that provides a detailed, in-depth assessment of the structure of the building, as well as the condition.
What is in a condition report?
A condition report should include a general, surface-level overview of the condition of the structure of the building, the state of repair, maintenance issues and any defects. The report should also make recommendations on any repairs that are needed and advise on anything important that needs addressing.
What happens after a condition report?
Once the report is completed and you’ve received a copy, you can then prepare for any remedial work.