Do You Need a Home Report to Sell a Home?

A home report is a document that is used by a buyer and mortgage lender to evaluate a properties suitability. Until recently it was paid for by the buyer who would commission a survey of the property. This is a bit like going to a car salesman and being told you have to pay to find out what condition it's in before purchasing. The rules have changed so that the home owner or seller is the one legally required to pay for the report to be made. There are a few exceptions that do not require a home report such as properties that went on the market before 1 Dec 2008 and new build homes that are being sold for the first time. Unfortunately these reports don't come for free and will set you back between £350 and £700.

A home report is comprised of a survey compiled by a chartered surveyor which will contain specific information on the condition of the property as well as accessibility information and an overall valuation. It will also include an energy report of the property to gauge its efficiency and a general questionnaire. The ratings run from A to G with A being the best. The better the energy report is the less the home owner will have to pay on fuel bills. The questionnaire will be about matters such as the council tax band and changes that have been made to the property.

One of the advantages of having an estate agent sell your property for you is that they will usually organize the home report and send it out to prospective buyers when necessary. There are advantages to home owners being required to provide home reports. It can mean that the process of selling a home can be speeded up as sellers will not need to wait for buyers to organize their own property surveys.