How long does a home report last?

If you're thinking about selling your home, you'll know there's a tonne of stuff to get done before you cross the finish line. But before you even start thinking about viewings, marketing and moving boxes, one of the first things you need to do is get your home report.

We're taking you through what a home report is, how and when you should get one, and how long the report lasts. Let's dive in!

What is a home report?

A home report is a detailed description of a property's condition, which gives potential buyers a clear understanding of the property. This helps them make a more informed decision about whether or not to put an offer on the home, and how much to offer.

A home report is divided into three main parts:

1. A general survey and valuation (carried out by chartered surveyors).
2. A property questionnaire (including other charges and information like council tax bands, an accessibility audit, parking facilities and urgent repairs. This is the seller's responsibility).
3. An energy report (otherwise known as an EPC survey, carried out by energy experts).

What to include in the home report:

• Any home report documents a potential buyer might need to consider.
• Any building work that's been done on the property (such as extensions or loft conversions), including having the right building permissions and control paperwork.
• Valid insurance certificates.
• Valid certificates for any treatments you've had done on the property.

The documents in the report can't be any older than 12 weeks at the time your property goes on the market.

Chartered surveyors will also note any potential or developing faults in the home survey report. This could include problems that arise from other problems (for example, if they find a hole in the roof, they may report the house is at risk to damp in the ceilings or walls).

When to get a home report

You need to get a home report as soon as you decide to put your house on the market. In fact, it's a legal requirement. You can't sell your house until you have the report, and you have to produce a copy of the home report to prospective purchasers within nine days of their request.

The benefits of a home report

A home report will essentially act as a marketing guide to your home, informing prospective buyers about any defects, issues, costs and the general condition of the property.

This then opens room for negotiations, as well as offering home buyers confidence and peace of mind knowing exactly what they're investing in.

How long does a home report last?

Once the report is completed, it doesn't have a specific validity period. However, there may be reasons you need to refresh it.

For example, if your house isn't selling, you might want to commission another report or even carry out a re-inspection to give potential buyers more peace of mind about the property's condition. A potential buyer may also want a new report before deciding whether or not to purchase the home. In this instance, the buyer and seller will have to negotiate who will pay for the report. It usually won't be as much as the price of the initial report.

If you take your property off the market up to four weeks after it was initially listed, you can put it back on the market without having to commission a new report.

A mortgage lender, however, won't usually accept a home report older than three months. So if your home is on the market for a long period of time, you will probably need a refresh survey (even if just to confirm nothing has changed with your property in that time).

How long is a home report valid for?

The home report is essentially valid unless the buyer's lender or solicitor deems otherwise. As long as the property hasn't faced some serious, life changing events (like fires, flood or earthquakes, for example), a building isn't likely to change in a way that would alter its value.

However, you need to remember that a survey is non-transferable. This means as a buyer, you can't rely on a home report carried out on behalf of somebody else. You have to get your own survey done.

Mortgage valuations

Lenders will carry out their own mortgage valuation, which means your own valuation won't be accepted in support of your mortgage application. The more up to date your valuation is, the better, as lenders find recent valuations the most reliable. A lender may require a refreshed mortgage valuation if your report is deemed too old.

Should you use an independent report company?

There are certainly pros and cons to using a home report company.

For example, if you're selling your home through an estate agent, the report will most likely be carried out by their preferred surveyors or home report provider. In this case, they'll have a fixed fee regardless of your property's value.

If you use an independent online home report company, they may have more flexibility to charge on a sliding scale because they won't have any shop rental overheads. Using an independent report also gives you more freedom to choose when and how you want to sell your property.

An independent provider may also be more thorough with their report, including standard documents like the energy efficiency report and the general survey, as well as value adds, floor plans, or even professional marketing photos.

Applying for a replacement home report

A chartered surveyor may request that the home report needs to be updated and replaced. The surveyor will reinspect the property and update the single survey, but not the entire home report. The Energy Performance Certificate doesn't need to be updated, nor does the property questionnaire. The replacement report will be sent to the buyer's solicitor, who will then send it to their mortgage provider.

A replacement home report will vary in price depending on the type or size of the property, as well as the surveyor you choose. The seller is required to cover the cost of the initial home report and any future replacement home reports.

Take a look at how much a home survey costs here.

Summary: Stay up to date!

So will your home report expire? Technically, no. Home reports are usually valid, for personal use at least, until a potential buyer or mortgage lender requests a refresh survey or replacement home report. All your documents need to be **no more than three months old to be viewed as valid for lenders.

It's good to refresh your report if your property has been on the market for a while and you want to boost your property's desirability. It's also great peace of mind for potential buyers!

If you're thinking about selling your property, getting a home report is a great first step. And once that's good to go, it's essential you work with the right estate agent to help get your property sold as quickly as possible. You can use our effective Estate Agent Comparison Tool to find the right agent to meet your needs. Check it out today!