What is a Home Report?
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 once 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.
What’s in the Home Report?
A home report 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. With Shepherd Chartered Surveyors, the aim is to be thorough, and this includes an assessment of everything from windows to gutters, from walls to the roof. The single survey also includes an audit for accessibility, which assesses whether the property is suitably equipped for those with special needs. Each component assessed will be given a conditional rating which ranges from 1.) – satisfactory – to a 3.) – essential work is required. By collating this data, the single survey then provides a valuation of the property in its current condition and a sum for the purposes of Insurance.
The Energy Report
With Shepherd Chartered Surveyors, an energy report includes information on the general energy efficiency of your property and helpful recommendations for improving that efficiency. 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. The Energy Report will also assess your property’s overall environmental impact.
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. Watch out for home report quotes and deals that appear very cheap. Surveyors purporting to sell home reports for under £200 especially will not include a mortgage valuation, which effectively renders these types of surveys useless when going to lenders, as it won’t be accepted. Meaning you need to commission a home report from a reputable surveyor anyway.
The property sellers will complete a questionnaire about the property to provide further helpful information to prospective buyers. 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. Accordingly, this includes things like council tax bands, planning permission or heating plans, access rights, damp issues, work guarantees and more. Making a buyer aware of these elements provides peace of mind and helps everything go more smoothly.
Typical Home Report Cost
Every property is different, and home report prices will vary depending on a number of factors, not least the size and location of the property. Shepherd Chartered Surveyors typically charge from £300 + VAT for properties under £100,000 in value. As the most common value of residential property in Scotland is between £100,000 and £200,000 a typical Home Report cost in this value range will be around £350-£400 + VAT. The final cost depends predominantly on various factors such as value, age, condition, size and location. Contact us below for a free quote today and one of our team will respond within 24 hours.
Request a Quote
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03330 164 000
Do I Really Need a Home Report?
Quite simply, a home report is required by law. Anyone in Scotland who puts a property on the market will have to provide a home report carried out by a chartered surveyor. Your home report doesn’t necessarily need to satisfy the buyer: if everything is done properly and a home report is provided, it is then the buyer’s responsibility to enlist their own surveyor if they are not satisfied. Some properties are exempt from a home report, 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.
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. We have branches located right across the country, meaning we can provide you with a home report, at a competitive price, no matter how remote your property is. Nobody can offer you 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.
Request a Quote
Or click to call:
03330 164 000