In 2008, a new rule in Scotland started requiring property sellers to create a Home Report to market their homes. Even after years, many people are still unclear about what a Home Report entails.
First off, the seller has to initiate the Home Report, which should be less than 12 weeks old when putting the property up for sale. Online property development finance firms suggest this guideline. A key outcome of this rule is that you can’t advertise your property until the Home Report is ready. Thus, you’ll need to hire an accredited surveyor, regardless of whether you’re in Glasgow or another part of Scotland.
In essence, a Home Report has three main components that give potential buyers important information about your property before they make a decision. The report includes a single survey on the condition of your property, an energy efficiency assessment, and a property questionnaire that answers common questions.
The single survey provides buyers with a detailed look at your home’s condition, covering aspects like the roof, internal and external walls, plumbing, and kitchen features. It also includes a market-based valuation of the property and an accessible review for those with special needs.
The energy report offers an efficiency rating for your property, which helps buyers compare it to similar properties and estimate heating and running costs they might face.
The property questionnaire discloses important details such as the council tax band and any modifications made to the property. This information is vital to buyers and your solicitor when finalizing the sale.
Some properties are exempt from the Home Report requirement, such as newly built homes sold by the developer and homes bought under the right-to-buy scheme.
Both the single survey and energy report should be carried out by a qualified surveyor. Therefore, make sure to hire someone with the right expertise before putting your house on the market.