5th February 2008 - Home condition reports improves buyers confidenceAccording to the National Association of Registered Home Inspectors (NARHI), vendors should commission a home condition report (HCR) in order to boost buyers' confidence.A Home Condition Report is designed to be a 'mid-range' survey, similar to the current Homebuyer Survey and Valuation - not as detailed as a Building Survey (sometimes known as a 'full structural survey') but a lot more extensive than a mortgage lender's valuation inspection. With many property experts predicting a fall in prices, the NARHI is claiming the disparity in the amount of buyers and sellers will make selling a property more difficult. Consequently, any problems discovered in a property during the completion of a sale will mean that buyers will look elsewhere. Therefore, the NARHI is advising buyers to secure a HCR to avoid this. With prior warning of any problems in their home, vendors can investigate the exact cause of any problem and source quotes to put it right before a buyer gets seriously interested say the NARHI. As a buyer, a Home Condition Report will show you the actual condition of the property, so you can make a more informed offer. It will also help you avoid any unexpected bills once you do move. As a seller, the report will help you market your home, since you can decide on a realistic asking price, or choose to have any work done before selling. Advertising a HCR will be a powerful incentive to purchase, concluded the organisation. (by Kay Murchie, Homemove - February 5th 2008) |
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