A home report is a document required to be produced by any seller of residential property in Scotland. They are designed to give buyers useful and necessary information regarding any property they are considering buying. Home Reports provide peace of mind for everyone involved and ensure nobody is left in the dark when a property transaction is underway. Home reports make things fairer and ensure there are no nasty surprises waiting for a buyer after they have purchased a property. They must be produced by qualified chartered surveyors like Shepherd Chartered Surveyors, accredited by the Royal Institution of Chartered Surveyors (RICS). A home report is valid until the property is sold; however, do bear in mind that if your property is on the market for some time, a replacement home report may be required to ensure all of the information being imparted to the buyer is up to date.
A Brief History of Home Reports in Scotland
Home reports were introduced by the Scottish Government in December 2008, and since then have been a familiar feature of the Scottish property market. They were introduced to make property transactions fairer, entitling buyers to all the vital information about a property – assessed by a qualified chartered surveyor – which they need to make an informed decision to buy a property.
Home reports have not remained static in content and form since 2008, and have been reviewed by the Scottish government a number of times, most recently in 2015. This has been done to fine-tune certain aspects of the home report, such as the length and cost. Over a decade since they were first introduced, however, there is little doubt that home reports have been a welcome feature of the Scottish property landscape, with over 80% of buyers and sellers surveyed as part of the 2015 review describing them as either ‘helpful’ or ‘very helpful’.
What’s in a Home Report?
Our home report normally consists of four separate documents:
The Single Survey
This is essentially a report on the general condition of the property and takes several things into account. This includes an assessment of everything from windows to gutters, from walls to the roof.
The Energy Report
The energy report is there to provide information on the general energy efficiency of your property. Your property will be provided with an Energy Performance Certificate, which will rate the energy efficiency of the house and provide an estimate of annual energy costs for the buyer.
This is provided for the benefit of any Bank or Building Society which may be used by the buyer to secure a mortgage on your property. It provides a summary of the Single Survey so the bank or building society can see how the surveyor would report to a lender.
We can all think of things which may not be obvious from any official survey, but which might be important for a buyer to know.
What if I Don’t Have or Want a Home Report?
Quite simply, a home report is required by law. Therefore, generally speaking, you cannot sell a property without one. However, there are a few exceptional circumstances where a home report is not required. These include new builds which a developer is placing on the market for the first time and newly converted homes which have not yet been used in their converted state.
As home reports cost money and time, you may also not be required to provide one to a buyer if you do not believe they are serious about buying your property, if you do not believe they have enough money to buy it or if you would rather not sell to that particular buyer (although, obviously, you cannot discriminate on illegal grounds). When you contact Shepherd Chartered Surveyors, you can be sure of speaking to a qualified chartered surveyor right away, allowing you to assess your situation with regards to a home report before you spend a penny.
Why Use Shepherds
Shepherd Chartered Surveyors are quite simply one of the most reputable teams of chartered surveyors around. The leader in the Scottish property industry, our origins date back to the 18th century. Naturally, we’re also regulated by the Royal Institution of Chartered Surveyors. When selecting surveyors for a home report, a knowledge of the area in question and an office nearby are essential criteria. Shepherd Chartered Surveyors have offices right across the country, meaning wherever you are, Shepherd’s in the right choice for a competitive and competent home report. Nobody can offer the same level of local market knowledge as Shepherds, our wealth of experience, proven industry expertise and vast network of offices stand testament to that.
Request a Home Report Quote Today
Please get in touch for any and all enquiries regarding Home Reports. Shepherds will be happy to provide a free quote, or even just answer any important questions you may have. To find your local office please visit our branch list. If you request a quote one of our team will respond within 24 hours.
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03330 164 000
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