What are the benefits of a Home Condition Report?
Sellers who provide a 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.
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.
Who does Home Condition Report?
1st For HIPs Home Inspectors responsible for preparing Home Condition Reports will hold a qualification at NVQ Level 4 (equivalent to degree level), and will require in-depth knowledge and practical understanding of residential building construction and defects across a range of properties as set out in the approved National Occupational Standards for Home Inspectors.
What is included in a Home Condition Report?
The Home Condition Report is an independent report on the condition of the property on the day it is inspected. The report is in an easy to understand format and provides condition ratings to the major parts of the main building. It will show matters that require further investigation. However, minor defects that would not normally affect the sale of a property are not highlighted. A valuation is not included, but there is a buildings reinstatement cost for insurance purposes. The HCR is an optional document and can be relied upon by buyers, sellers and lenders alike.
Are there any alternatives to the Home Condition Report?
There is at 1st For HIPs!
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