Since the introduction of home reports in Scotland in 2008, homeowners who are selling their property are now legally obliged to produce a home report to potential buyers within 9 days of them requesting one. Failure to comply with the law can result in a £500 fine and will prevent the sale from taking place.
A home report is now an essential step to take when selling a property, but with so many different options on the market it can be difficult to find the right home report for you. If you’re looking to obtain a home survey to assist in the sale of your property, our guide will help you in finding the best home report for your requirements.
Finding The Right Home Report
A home report is a legal document that will be used to verify the condition of your property and ensure that it is worth the amount you have had it valued at. A home report can highlight issues with your property that can negatively impact your house valuation and lead to costly home repair costs.
On a more positive note, your home survey can also verify that your property is a worthwhile investment, and a good home report can actually help your sales process. Buyers are more likely to invest their money into a structurally sound and energy efficient property and therefore a favourable home survey could actually drive the price of your home up by leading to a bidding war.
With your home report bearing such an impact on the financial standing of your property, it is essential that you choose the right surveyors to ensure that a report is produced quickly and efficiently. The main factors that you should bear in mind when choosing your provider are:
The cost of a home report varies from city to city and between providers. It’s also worth noting that the valuation of your property will impact the cost of your home survey. The more your property is valued at, the more your home report will cost. Home surveys can be expensive, and a lot of homeowners can be fooled into thinking that a more expensive surveyor must provide a better service – or that it can make their property report more favourable – this is not the case. All surveyors are chartered and certified so you can be sure that no matter the cost of your home survey, you’ll receive a high level of service and accurate results. You are better off finding a home report to keep your costs low while going through the sales process.
Typically when selling a property, the sellers are keen to get their property on the market quickly to get the sales process moving. You don’t want to slow down your process or lose a buyer because you’re waiting for your home report to be conducted. When choosing your provider, ensure that they will be available to carry out your home report quickly so you can get your property on the market sooner rather than later.
Selling your home can be a stressful process and you’ll want to make sure that you’re entrusting your home report into good hands to reduce some of your own burdens. Choose a provider that has favourable online reviews that mention their customer service.
How Long Will A Report Take?
A home report can be a very quick process once your appointment is confirmed. The surveying of your property will be conducted in a few hours and your surveyor may be able to give you an indication into the outcome of your report there and then. However, if your survey uncovers structural issues or cause for concern, this may not be the case. Once the survey has been conducted, your surveyor will have to produce a report on their findings. This can take a few days or weeks, depending on the provider you’ve selected. Your surveyor should give you a timeframe once the survey has been completed.
Can You See Home Reports For Any Property On The Market?
No, home reports are not widely accessible. To see a home report you will need to request it from the seller. A seller can refuse to give you access to the home report if they don’t think you are a serious buyer.