What to Do After Receiving Your RICS Home Survey Report

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Receiving a RICS (Royal Institution of Chartered Surveyors) Home Survey report is a pivotal moment in the property buying process. Whether you’re purchasing a new home or assessing your current property’s condition, understanding and acting on the survey findings is crucial. Here’s a comprehensive guide on the steps to take after receiving your RICS Home Survey report.

 

1. Review the Survey Report Thoroughly

Upon receiving the RICS Home Survey report, take the time to read through it carefully. The report typically categorizes findings into different levels of importance:

  • Condition Rating: This rates the overall condition of the property, often using a scale (e.g., Condition Rating 1 to 3).
  • Defects: Specific issues noted during the survey, categorized by severity.
  • Recommendations: Advice on necessary repairs, maintenance, or further investigations.

 

2. Understand the Findings

Pay attention to any significant defects or issues flagged in the report. Understanding the severity and implications of these findings is essential:

  • Major Defects: Issues that require immediate attention or significant repair work.
  • Minor Defects: Less urgent issues that still need addressing to prevent future problems.
  • General Maintenance Recommendations: Routine upkeep suggestions to maintain the property’s condition.

 

3. Consult with Professionals

For complex issues or major repairs recommended in the survey report, consider consulting relevant professionals:

  • Surveyor: If you have questions or need clarification on the survey findings, contact the surveyor who conducted the assessment.
  • Specialists: Depending on the nature of the defects identified (e.g., structural issues, electrical problems), you may need to seek advice from specialized contractors or engineers.

 

4. Prioritize Repairs and Maintenance

Create a plan to address the findings based on their urgency and impact:

  • Immediate Repairs: Prioritize issues that pose safety risks or could cause further damage if not promptly addressed.
  • Scheduled Maintenance: Plan routine maintenance tasks recommended in the survey to prevent future deterioration.

 

5. Negotiate with the Seller (if applicable)

If you’re purchasing a property and the survey reveals significant issues:

  • Reassessment of Offer: Consider renegotiating the purchase price based on repair costs or asking the seller to undertake repairs before completion.
  • Request Further Investigations: If the survey recommends additional assessments (e.g., structural integrity), negotiate with the seller to facilitate these investigations.

 

6. Plan for the Future

Use the survey report as a guide for ongoing property maintenance and improvement:

  • Budgeting: Incorporate repair and maintenance costs into your budget planning.
  • Regular Inspections: Schedule periodic inspections to monitor the property’s condition and address issues proactively.

 

7. Document Everything

Keep a record of the survey report, correspondence with professionals, and any agreements with the seller:

  • Legal Considerations: Ensure all agreements are documented and legally binding, especially if repairs or renegotiations are part of the property purchase contract.

 

Conclusion

Receiving and acting on a RICS Home Survey report is instrumental in making informed decisions about your property investment or ongoing maintenance. By understanding the report’s findings, consulting with professionals, and planning appropriate actions, you can ensure your home remains safe, structurally sound, and well-maintained for years to come.