Ready, Steady, Go! Get Your House Purchase Off to the Best Start

In this blog, we consider the ‘Traffic Light’ Condition Rating System used in RICS Home Surveys and what it can mean for your house purchase. Of course, we all now readily recognise and understand the idea of red for stop, amber for caution and green for go. But, did you know that the world’s first traffic signal was installed in Westminster in 1868 with very limited success (it blew up, injuring the police officer operating it), and that the first 3 colour signal wasn’t developed until 1920 by William Potts of Detroit?

In RICS Home Surveys the ‘traffic light’ idea was introduced to give a clear and easy to understand indication of the condition of the property, and how urgently it needs repairing. The ratings also allow buyers to see at a glance what actions the surveyor is recommending before purchase.

The 3 ratings are defined by RICS as:

Condition Rating 1 – no repair is currently needed. The property must be maintained in the normal way.

Condition Rating 2 – defects that need repairing or replacing but are not considered to be serious or urgent. The property must be maintained in the normal way.

Condition Rating 3 – defects that are serious and/or need to be repaired, replaced or investigated urgently.

During a survey, each aspect of the property is carefully considered and then described in the final report where it is given a Condition Rating of 1, 2 or 3. Every property is unique, and often deciding exactly which issues need highlighting for action is up to the expertise of the surveyor. However, there are common defects that our surveyors would always prescribe as ‘Amber for Caution’ or ‘Red for Stop’. For example, common problems that appear as a Condition Rating 2 would be, a lack of adequate ventilation or minor roof repairs, whereas problems that require further investigation, like evidence of damp and structural movement, or the presence of significant hazards such as asbestos, polystyrene tiles or an unsupported chimney stack would warrant a Condition Rating 3 category.

If your surveyor finds a problem it doesn’t automatically mean the end of the road for your purchase. Most surveys, particularly those on older properties, will find issues and the traffic light rating system allows buyers to rate issues in order of importance and to see potential problems in perspective.

Of course, our surveyors are always happy to discuss their findings with you over the phone and to help you to decide what further action you want to take. Maybe you need an idea of costings to fix the issues or need quotes from contractors. This could put you in a strong position to renegotiate the asking price or to ask the seller to fix the issues themselves before completion of the sale.

Remember that having a survey allows you to buy a house with your ‘eyes wide open’. It identifies any significant problems before you buy a house and allows you the opportunity to renegotiate with the sellers and to budget for any repairs that may be needed in the short, medium and long term.

For more information on the RICS Home Surveys that Jones Battye, Chartered Surveyors offer please contact us at enquiries@jonesbattye.com or call our friendly staff on 01685 378894 or 02920 625433. How can we help you today?