Out of the court etat des lieux

I want to know the consequences of having an etat des lieux between the landlord and the tenant out of court. No agencies involved. Who has an upper hand in this case?
The etat des lieux in question is very generic and states the colour and the looks of each item. For example, wall paint is white and is in good condtion. Floor is wooden and is in good condition.
What is good condition? Is there a definition of good.
Also, its not a signed document. It was just discussed and shared via email, does it have any value?