Home Condition Reports (HCRs)
Initially, the Government intended that a Home Condition Report (HCR) would need to be included within a Home Information Pack (HIP). Because of a shortage of Home Inspectors, the HCR is now only optional for inclusion in the pack. The Government hinted strongly, in March 2007, that they were prepared to reinstate the mandatory requirement for HCRs to be included with HIPs as soon as Home Inspectors were sufficient!
What is a Home Condition Report?
Why is a HCR Important?
Who needs a HCR?
Currently, it is not a mandatory requirement for anyone to purchase a Home Condition Report. However, we believe that buyers, when presented with a HCR, are far less likely to haggle on the price because all facts about the condition of the property will have been disclosed.
Additionally, because the HCR will be protected by indemnity insurance, the buyer will be able to rely on it and will not need to commission his/her own survey. This will save time during this critical period as most sellers are also buyers and they will need certainty that the deal will not fail.
While we believe that all sellers will benefit for the above reasons, sellers of high value properties will gain especially by having the HCR bound within the Property Particulars brochure which is produced by many Estate Agents.
How do I get a HCR?
Get a Quote for a HCR or get a quote for a HCR and HIP (Read more about HIPs)
