What is a home condition report (‘HCR’)?
This is a report based on a professional survey of the physical condition of the property. Originally this was going to be compulsory and would have been required to be included within the HIP. The Government has now decided that the HCR will only be included if the seller decides to do so. If a seller decides to commission such a report then they are at an advantage as they will be aware of any problems with the property before it is marketed and can carry out any necessary work. If the work is not done, at least the buyer will be aware of the problems with the property’s condition when they make an offer. This should prevent any negotiating on price for repairs and maintenance at a later date. If no HCR is included in the HIP, a buyer will usually decide to have his own survey carried out to check the condition of the property and may try to renegotiate the purchase price at that stage to cover the cost of any works his survey reveals.
