Home Condition Survey for Buyers: (HCS)

Benefits of a Home Condition Survey:

The Buyer gains the benefit of peace of mind by identifying major problems early in the purchase process. Although your lender may require you to pay for a Valuation Report, it answers only the lender's questions about the appropriate security for your loan. You cannot rely on it to provide a detailed report on the condition of the property. The HCS is a fast, comprehensive and competitive service to inspect your new home for all the major defects that are likely to affect your decision to purchase. I am a fully qualified and certified residential property surveyor. The HCS gives you a no-nonsense assessment of the condition of the property using a simple 1, 2, 3 rating guide, and a jargon-free approach.

The HCS does not normally include an EPC - which should be provided by the seller - although this can be included if required.

The Report covers:

• Building condition and defects

• Any structural movement

• Any damp, rot and woodworm

• Heating and electrical services

• Alterations

• Drains

• Environmental issues

• Insurance reinstatement cost

Home Condition Report for Sellers: (HCR)

Benefits of a Home Condition Report:

Sellers who provide a Home Condition Report will have an early opportunity to carry out repair work on the property or obtain quotes prior to marketing. Buyers can use it at the beginning of the home-buying process to minimise the possibility of being faced with unexpected repair bills and other surprises. Government figures from the pilot studies show a marked decrease in failed transactions when issues are flagged up early. Lenders can benefit by using the Report to inform their valuations, reducing the need to repeat a detailed on-site inspection at the buyer's expense.

The Government believes there will be significant benefits to home sellers if they top up their (compulsory) Home Information Packs to include Home Condition Reports.

The Report covers:

A Home Condition Report contains information about the physical condition of a property, which sellers, buyers and lenders will be able to rely on legally as an accurate report. The Report is an important part of the Pack, and can be included by sellers on a voluntary basis. Click Here for a sample of an HCR.

Energy Performance Certificate (EPC) for Sellers and Landlords' Certificates

Benefits of an Energy Performance Certificate:

The EPC is a compulsory part of the Home Information Pack. Energy Performance Certificates tell you how energy efficient a home is on a scale of A-G. The most efficient homes - with the lowest fuel bills - are in band A.

EPCs will also become compulsory for all rental properties owned by landlords from October 2008. Landlords will have to have available to new tenants, a report on the energy efficiency of the building (EPC) which will be registered on the central database. The energy efficiency certificate is valid for 10 years.

The Report covers:

An Energy Performance Certificate tells you, on a scale of A-G, both the energy efficiency of a home and about the impact the home has on the environment. Better-rated homes should have less impact through carbon dioxide (CO2) emissions. The average property in the UK is in bands D-E for both ratings. The Certificate includes recommendations on ways to improve the home's energy efficiency and estimate the energy cost savings that result.

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