What is a Home Report?
A home report is a pack of comprehensive documents that gives potential buyers information about a property for sale. The report is intended to give potential buyers detailed information about the property before they make an offer, helping to ensure transparency and informed decision-making.
The report consists of four components:
The Single Survey
The Energy Report
Mortgage Valuation Report
The Property Questionnaire
How Long Does my Home Report Last?
Home Reports do not expire as they have no finite shelf life. However, it is common for a refresh to be instructed (usually driven by the purchaser's solicitor). This would usually happen after 90 days or if the purchaser's lender requires an update.
The Single Survey
An assessment of the condition of the home e.g the roof, internal and external walls, plumbing and kitchen fittings. A valuation. An accessibility audit for people with particular needs.
The Energy Report
The document provides the property's energy efficiency rating. The higher the rating, the more energy efficient the home is, and the lower the fuel bills are likely to be. It also looks at the impact the home has on the environment, through carbon dioxide emissions. The report looks at features such as how well insulated the home is, and how it is heated. The energy report also recommends ways to improve the home's energy efficiency and reduce fuel bills.
Mortgage Valuation Report
Most Home Reports carry a Mortgage Valuation and whilst not required by law, all Home Reports that do not contain a Mortgage Valuation will not be able to be used by the purchaser to obtain a mortgage. It is imperative therefore that you check your Home Report comes with a Mortgage Valuation
The Property Questionnaire
Here you will find additional useful information about the property, for example: The property's council tax band, parking arrangements, alterations that have been made to the property, whether there are any extra costs involved in living there (such as charges for the upkeep of communal areas)
