Is it Time To Put Your House In Order?

It is an inevitable part of my job that I have to provide negative news to potential purchasers regarding their proposed dream home.

The news often comes as a shock to the Purchaser and as a surprise to the Vendor and starts the process of negotiation which leads to either a reduced sale price or the collapse of the sale, which, more often than not, has a Domino Effect, toppling other sales in the chain and preventing these sales from taking place.

I have long advocated that, as with the sale of a vehicle, where an MoT is required to prove roadworthiness and safety, a building needs to come with at least a report to confirm its condition. Home Information Packs or HiPs were introduced in 2007 but scrapped in 2010 as those in power considered it an unnecessary expense, although in Scotland, a similar Information Pack is still required to be provided by the vendor and in some ways, their Pack is less onerous, as the EPC (Energy Performance Certificate) has at least become mandatory in the UK and is the vendors responsibility.

Common sense would suggest that a Pre-Sale-Survey would highlight deficiencies in a property and give the vendor a chance to put these in order, prior to marketing, rather than facing stressful negotiation and even the loss of a sale as a result of unknown faults. It could also highlight deficiencies in the Energy Performance of the house which could also be rectified and thus provide a better score when the EPC is eventually commissioned.

Major Element Reports are not uncommon and could easily be used to identify basic defects at a much lower cost of a Level II or III survey, and provide surety in an otherwise uncertain sales process; they could easily be tablet-based and completed entirely on-site, speeding up the survey process.

We would be happy to discuss the needs of vendors, either directly, or with enlightened Estate Agents and even Conveyancing Solicitors that want to engage with this simple idea.

Look forward to hearing from you.