When it comes to selling your property, you want to get the best deal possible. However, there are things that could devalue your home and make it less attractive to buyers. While you may still be able to sell the property, you might not get the price you were hoping for.
Safety is one of the most critical things buyers think about when choosing a home; nobody wants to move into a property that comes with a risk of accident or injury. Moreover, not many people would be happy to have to fork out for additional work once the sale has gone through.
By providing an up-to-date EICR, you are giving your buyers greater peace of mind as well as your own assurance that you’ll likely get the asking price for your property. Let’s take a closer look at the importance of an EICR when selling your home.
What Is An EICR?
The term EICR is an abbreviation of Electrical Installation Safety Report and it’s a test carried out by a skilled person to assess the condition of electrical installations within any given property.
This test ensures that everything is in good working order and that there’s no (or minimal) risk of electrical issues that could result in fires and other accidental situations.
When we talk about electrical installations, this can include things like your consumer unit, cables and wires that run throughout the property, including ones that run behind walls and ceilings as well as things like power outlets and switches.
Is It A Legal Requirement To Have An Up To Date EICR When Selling A Home?
You may have heard myths that an EICR is a legal requirement in the UK. There is some truth to this but it doesn’t apply to domestic homeowners. As of 2021, all UK landlords have been required to have an up-to-date EICR but if you live in the property you own, you’re under no legal obligation to get an EICR even if you plan to sell your property.
But that doesn’t mean this is a responsibility you should ignore. While it might not be a legal requirement, it’s certainly worth it for your peace of mind and the peace of mind of anyone considering buying your home.
What’s more, you have to consider that not having a valid EICR could lead to secondary problems. For example, if you do not have an up-to-date EICR and there is an electrical fire that was caused by a faulty electrical installation, this could come with legal or financial ramifications.
Let’s imagine that a fire breaks out and there is damage to a neighbouring property. In this case, without the backup of an up-to-date EICR, you would be liable for that damage which could put you massively out of pocket.
What’s The Difference Between An EICR And An EIC?
As a homeowner, you may have been told about different electrical certifications for your property and one of these is an EIC. This, being very similar to an EICR, can often cause confusion.
The primary difference is when each of these tests are carried out. An EIC, or an Electrical Installation Certificate is a document that is provided by a qualified electrician after a new electrical installation has been installed.
On the other hand, an EICR is a report that is carried out on existing electrical installations and is typically done every five years.
Why It’s A Good Idea To Get An EICR Before Putting Your Property On The Market
If you’re planning to sell your home, the best thing you can do is to make sure that the property and everything in it are in the best condition possible. It’s pretty easy to prove this for things like the condition of the garden and the quality of the kitchen etc but when it comes to electrics, it’s much harder to prove without a valid EICR.
Buyers are more likely to invest in a property when it is safe and up to standard and it’s not uncommon for them, or their legal representatives, to request a copy of the most recent EICR prior to making an offer.
Where an up to date EICR is not available, there’s a good chance that the buyer will be deterred or, at the very least, make a lower offer to counter the risks associated with not having a valid EICR and the potential work that may need to be carried out as a result.
The amount of money you could lose in the sale of your home by not having an EICR would be far more than the few hundred pounds it costs to get this test done.
Even where the most recent EICR identifies potential issues, this at least makes it clear to the buyer what they may need to invest in once they purchase the property. Don’t be concerned that there have been issues highlighted as many people simply appreciate the transparency rather than someone trying to pull the wool over their eyes. Alternatively, you could have any remedial work carried out before putting the property on the market which will more likely ensure that you get as close to your asking price as possible.
So, Do I Need An EICR To Sell My Property: Final Thoughts
In short, you do not need to have an EICR in order to sell your property. You would still be very much within the confines of the law if you sold your home without one.
But that doesn’t mean that it’s a good idea. As I have discussed, potential buyers are looking to purchase a property that is safe and comes with as few issues as possible. Having a valid EICR gives them greater peace of mind.
When you consider the many costs involved with selling your home, the price of an EICR seems minimal and should be something that all homeowners should seriously consider.
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