The Scottish Executive has announced that the property information pack is to become mandatory with a launch date in the last quarter of 2008.  

THE HOME REPORT
From the 1st December a Home Report is required for every residential property marketed for sale, other than a few excluded properties such as holiday homes and new houses. The Home Report comprises a Property Questionnaire prepared by the vendor and a Single Survey prepared by a Chartered Surveyor. The Property Questionnaire will provide useful information about the property. The Single Survey will give detailed information on the condition of the property as well as Accessibility Information and an Energy Report.

The Home Report aims to given prospective purchasers more information on the condition of the house. It will address artificially low asking prices and can reduce the need for purchasers to instruct multiple surveys.

It will be commissioned and paid for by the vendor before marketing and it will be made available to prospective purchasers. The purchasers lender can obtain a transcription report from the Single Survey surveyor, provided that they are on their panel and can comply with their lending policy.

The Home Report will give prospective purchasers more relevant information in order to make an informed bid for the property. It also reduces the cost of obtaining such information.

J & E Shepherd have been at the forefront of developing the Home Report and can provide a full survey and distribution service across Scotland.

Further details will follow, however a suitable link is: www.rics.org