Buying or selling a property in Scotland will involve a Home Report. We’ve answered some common questions from both a buyer and seller perspective to make the whole process a bit more understandable.
What is a Home Report?
Home Reports are unique to Scotland. They were introduced by The Scottish Government in 2008 to provide buyers and sellers with better information about the value and conditions of properties for sale in Scotland.
About the Home Report
The Home Report is made up of three documents:
1. The Single Survey
This is an assessment by a chartered surveyor of the condition of the home, a valuation and an accessibility audit for people with particular needs.
2. Energy Report
This is also prepared by a chartered surveyor. It is an assessment of the energy efficiency of the home, its environmental impact and recommends ways to improve the energy efficiency.
3. Property Questionnaire
The property questionnaire is completed by the seller of the property. It contains additional information that is useful for buyers, such as council tax banding and factor fees.
Who needs a Home Report?
Sellers must have a Home Report before marketing a property for sale. Buyers can find out key information about properties they are interested in, before arranging viewings and making offers.
Are there any exceptions?
There are some properties that don’t need a Home Report. Exceptions include newly converted premises, unsafe properties and properties to be demolished. A full list of exceptions can be found on The Scottish Government website. If a property does not require a Home Report, the seller will still need to obtain an Energy Performance Certificate.
How do you commission a Home Report?
For sellers using an estate agent, you can commission a Home Report through your agent. There is also the option to commission it directly with a chartered surveying firm.
How much does a Home Report cost?
The Royal Institution of Chartered Surveyors (RICS) in Scotland advises that Home Reports will cost sellers between £585 and £820. The cost will depend on the size of your home and the surveyor you decide to use. You should request quotes from a few surveyors to ensure you get a competitive price.
How long does a Home Report last?
Your Home Report must be no more than 12 weeks old when the house is put on the market so that the most up-to-date information about the property is provided to potential buyers. If you want to take your property off the market, you can do so for 4 weeks at a time without requiring a new Home Report.
If your property has been on the market for a significant period of time, a buyer might request that it is updated. This will be agreed on both sides and a charge agreed with the Home Report provider.
Do you have to supply the Home Report to anyone who asks for it?
If you think the buyer could not afford the house, is not genuinely interested in buying the house or is not a person to whom you would wish to sell the house, you do not have to supply a copy.
Any other questions? The Scottish Government has a useful Home Reports website.
If you’re considering selling your home, get a free valuation and search a full directory of estate agents across Scotland at s1homes.com.