If you’re in the South Wales area and looking to sell or let a property, an EPC certificate is a factor you should consider.
Along with the countless other documents needed when selling property, an EPC is a vital document the new owners or tenants will require access to. In this article, we cover everything you need to know about EPCs, why they’re important and how much they cost to acquire.
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What is an EPC?
An EPC, or energy performance certificate, is a document that states how energy efficient a property is. In this certificate, the house is rated on a scale, starting at “G” being the most inefficient and going up to “A” as the most energy efficient. This is a document that must be shown to all potential buyers of a property or, if you’re renting, to the tenants.
Why do I need an EPC?
Every person looking to sell or rent out their property needs an EPC. It’s a legal requirement for all homeowners. You must make sure you have an EPC prior to putting your property up for sale or before advertising it to let. When acting as a landlord, an EPC must be made readily available to prospective tenants as soon as possible after they express interest in the property. Your EPC rating must also be included in any adverts for the property as well.
Why are EPCs important?
EPCs have been a compulsory measure throughout the UK since 2010.
This is regardless of if you’re selling your property or renting it out.
For all those renting out properties to brand new tenants, an EPC must be put in place and have a rating of “E” or higher, since 2018. Since the start of 2020, energy efficiency measures have also been placed upon properties with tenants already in residence. Failure to comply with these rules means you could face fines and further action.
If you don’t have an EPC, it’s important you comply as soon as possible.
Check to see if you already have an EPC
Before setting out to get a new EPC, it’s important to be sure you don’t already have one. This is because certificates come at a cost.
Consider whether your property has been sold within the last 10 years. If so, it’s likely the house already has an EPC that is valid.
To make sure you’re compliant there are a number of ways you can make sure you have an EPC. Do this by accessing your local government website to search for your listed address. If your address comes up, it should also display an EPC with a valid from date, as well as a valid to date.
Consider making a note of when the EPC expires if you’re planning on selling or renting your property in the near future.
How much does an EPC certificate cost?
If the EPC on your property has expired and you need to source a new one, bear in mind this will come at a cost. There are two separate routes you can go down to acquire an EPC: through an estate agent or a third-party assessor. These individual sources can differ in both price and procedure, so it’s important to be aware of both to make an informed decision.
The most common and straightforward way of getting an updated EPC would be through an estate agent.
Assessors will be sent to examine the property, and this is likely to be swift as it’s likely the property is linked to the estate agent, so it would be in their best interest.
Estate agents typically charge £75-£100 for an EPC.
Third-party assessors are also an option to gain a new EPC. They commonly market how inexpensive they are compared to estate agents, with some websites claiming less than half the price of their fee. It’s worth noting this can completely depend on the location and size of the property. Third-party assessors can also take a lot longer to actually assess your house and grant the EPC. This can be an issue if you’re wanting to put a property on the market quickly, as you cannot advertise a house without an EPC first.
To conclude, at the very worst, an updated EPC will cost you around £100 when working directly with an estate agent.
While you could go down the avenue of third-party assessors to save some money, this is not always recommended due to the lack of efficiency and potential hold it could place on you putting your property on the market.
Contact Mark King Properties today if you are considering selling a house.
I will make you a cash offer for your house with or without an EPC. I will buy any house in any condition, and I will take care of all the paper work.
Call me direct on 02920 501 001 or fill in the form below to find out how much I would pay for your house.