Energy Performance Certificates and Home Condition Reports

What is an Energy Performance Certificate (EPC)?

An EPC will inform buyers and sellers about a home’s energy efficiency, using A to G ratings like those used on appliances such as washing machines and refrigerators. The certificate will also specifically show, for each individual property, various improvements that could be made to cut fuel bills and carbon emissions, the costs of doing this and how quickly these will be recouped through reduced spending on energy.

The EPC will be prepared by a Domestic Energy Assessor or a Home Inspector, all of whom have been trained and are licensed via a Government Certification Scheme.

What is a Home Condition Report (HCR)?

An HCR contains information about the physical condition of the property. It is prepared by a Home Inspector, who can also prepare EPCs. The HCR provides an objective report on all parts of the property, meaning that potential buyers can understand the condition of the property before making an offer, and where repairs are required, the extent and possible cost of these. If an HCR is included, offers can be made based on the facts about the property and therefore the sale is less likely to fall through or the price be renegotiated.

Should an HCR be included – and what will it cost?

An HCR is a voluntary document, and for the average property will cost approximately £200 - £250 on top of the required documents. Many buyers and sellers have found them very useful in the trials. An HCR should be considered in the following situations:

1. If the property is in good condition, and a quick sale is required, using an HCR will show potential purchasers that there are no hidden problems.
2. If the property is in better condition than others in the area, or has significant features that will help the vendor achieve a better price.
3. The property needs work in some areas. The HCR will identify these in an objective way, thereby stopping purchasers trying to drive down the price by over-exaggerating the costs involved.

Obtaining an EPC or HCR.

As one of the largest nationwide HIP providers, Richards Gray has negotiated arrangements with a number of national and regional suppliers. However, we are equally very happy to use preferred local suppliers where appropriate – this is a key element of our flexible portfolio of HIP solutions!