subject: All about Scottish Home Reports [print this page] All about Scottish Home Reports All about Scottish Home Reports
The Scottish Home Report wasstartedDecember 2008 and isall sellersneedtobuy one prior to selling your property. The Home Report must contain 3 things,Property Questionnaire (filled out by the owner, a Single Survey, and an Energy Report.
A Mortgage Valuation Report is an optional document routinely included with most Home Reports - this can be used by the purchaser to obtain a property loan when the Surveying Firm is on the panel for the purchaser's bank or building society. Although some online home report providers will supply a home report with a non mortgagabele valuation guide as they do not belong to mortgage lenders panels.
TheSurvey
The Single Survey gives Sellers detailed information about the condition and value of their home before it isput on the market.Plus it gives Buyersmore information about the condition and value of apropertyprior to whenthey make an offer to purchase.
The Single Survey includes an accessibility audit that will make Scotland the first country to require that the accessible features of each home for sale are highlighted to potential Buyers..
EPC
The Energy Report gives a home's energy efficiency rating and its environmental impact in terms of carbon dioxide emissions. It futher recommends ways to improve the building's energy efficiency and gives contact details for further advice and information about how to make a home more energy-efficient and save fuel costs.
The Energy Report helps home Buyers to make 'green' choices, by comparing energy costs between homes and giving practical advice to reduce carbon emissions and save on houshold energy bills.
Property Questionnaire
The Property Questionnaire contains information for Scottish home Buyers, Solicitors and Surveyors.
It would include, for example: a home's council tax band, parking facilities, factoring arrangements, any local authority notices that affect it and changes that have been made to the flat.It also delves into the properties history in respect of repairs and guarantees for work carried out on the property. This information will be useful for Buyers before they decide whether to submit an offer to purchase a home.
The Property Questionnaire will reduce the risk of delay and difficulties in conveyancing. Solicitors both for the buyer and seller will be able to spot any potential issues at the beginning of the process rather than at the end
Are they here to stay?
Introduced by the SNPas long as they remain in power home reports will remain. ScottishGovernment elections in Scotland take placeduring May 2011 and this may hold the key to their longevity.
How much do the cost?
Costs from chartered surveyors firm to firm and start at around the 400.00 cost. In 2010 a raft of online providers entered the market and has reduced this price to around the 200 mark, so shop around. If you buy them from your estate agent it may cost you hundreds of pounds more.
But do real estate agents live home reports? Some do but most think they have added to the cost of selling property that sellers could do without in the current climate. Buyers do like them as at least they can see the condition of a property without having to purchase a dear home report.
