17 Nov Home Reports if You’re Selling a Property in Scotland
If you are selling a property in Scotland, you need to provide a Home Report. Home Reports were introduced by the Scottish Government in 2008 for the benefits of property buyers.
It is a pack containing information about the property for potential buyers.
What is a Home Report?
A Home Report is compiled by the seller’s agent or the seller. A chartered surveyor must provide the Single Survey and Energy Report. The seller of the house will complete the Property Questionnaire which gives potential buyers information about a property for sale.
The report consists of three components:
- a single survey
- an energy report
- a property questionnaire.
What does the Home Report consist of?
The single survey
The single survey is a detailed report on the condition and value of the property. It is intended to provide both the seller and purchaser detailed information about the properties condition and value before offers are submitted.
The condition of the property is separated into three categories:
Category 1 – No immediate repair is required
Category 2 – Repair or replacement requiring future attention, but estimates are still advised.
Category 3 – Urgent repairs or replacement are needed now. Failure to deal with them may cause problems to other parts of the property or cause a safety hazard. Estimates for repair or replacements are needed now.
The energy report (EPC or Energy Performance Certificate)
The energy report gives the home an energy efficiency rating. The higher the rating, the more energy efficient the home is, and the lower the fuel bills are likely to be. It also looks at the impact the home has on the environment, through carbon dioxide emissions. The report looks at features such as how well insulated the home is, and how it is heated.
The energy report also recommends ways to improve the home’s energy efficiency and reduce fuel bills.
The property questionnaire
The property questionnaire is completed by the seller or their agent asking about their ownership of the property and can be done online or offline. It contains additional useful information about the property, for example:
- the property’s council tax band
- parking arrangements
- alterations that have been made to the property
- whether there are any extra costs involved in living there (such as charges for the upkeep of communal areas).
Who needs to provide a Home Report?
All sellers who put their house on the market must have a Home Report and we can ensure that you have all the support you need throughout the process.
Who will put together the Home Report?
If you’ve hired a selling agent to help you sell and market your property, they may be able to carry out your Home Report for you. However, the single survey and energy report must be carried out by a qualified surveyor. You will be responsible for filling out the property questionnaire.
If you are selling your property without the help of a selling agent, you’ll need to commission a surveyor yourself. You can find a surveyor through the Royal Institution of Chartered Surveyors (RICS) website, on which we are listed.
How much does a Home Report cost?
Our Home Report costs are based on property value and the location. Give us a call on 0131 608 0175 for an informal chat to discuss or complete the online form and one of surveyors will get back to you quickly about the costs of our Home Reports. We are able to offer the most competitive fees in the market.
What if the Home Report highlights an issue?
The Home Report is intended to let the seller and the buyer know the true condition of the property, the need for repair and its market value. The objective is to remove any nasty surprises or un-budgeted expense. Ideally repairs will either be carried out or will be factored into the purchase price. However, legislation does not require that a seller carry out any repairs. The information in the Home Report allows the property to sell with no last minute problems, it informs the buyer and helps the buyer obtain a mortgage.
How long does a Home Report last?
The legislation does not impose a set shelf life or validity period for any of the Home Report documents. This reflects current practice for survey reports. The Home Report should be no more than 12 weeks old when the property first goes on the market. However, there is currently no stated validity period. It is for the owner to decide if they wish to update the Home Report at any point. In practice, updating normally occurs when a buyer shows serious interest in your property and the original Home Report is more that three months old.
How can I find out more?
We provide Home Reports across Scotland, including Edinburgh, Glasgow and Aberdeen, at a time that suits you. We accommodate early morning, evening and weekend appointments while offering the professional service sellers have come to expect from a Chartered Surveying Practice.
We have a wealth of experience in residential valuation and appraisal and our experienced staff deliver sound advice and outstanding results. Our team are available 7 days a week, between 8am and 10pm.
We understand that buying and selling can be an expensive time, one of the most stressful in life so we aim to answer any questions you may have and provide our service at a competitive price.
All our surveyors are locally trained and have undertaken all the necessary training to carry out your Home Report. They are all Chartered Surveyors and are regulated by the RICS. You can call us on 0131 608 0175 or drop us an email.