Home Report Questions
Q: The Single Survey is instructed by the seller. Should I get it checked by another surveyor?
A: There are no definitive rules regards this & you should ask your solicitor for advice before you submit an offer. There may be an occasion when your solicitor may advise getting another survey as it might have a differing property value or condition report.
Q: Will my mortgage lender accept the Single Survey valuation?
A: If the Single Survey valuation was done by a survey company that is on your lender’s approved panel, then they most probably will accept it. If the surveyor is not on your lender’s approved panel you will possibly be required to pay for just another valuation and not a full Home Report survey. If the survey is more than 12 weeks old then your lender may require another valuation survey as a ‘refresh / update’.
Q: I’m prepared to pay more for a property than the valuation on the Single Survey. Can I get the valuation revised for my lender?
A: A surveyor is allowed to revise the valuation for a property given good reason such as change in market demand, however, you may have to instruct a new valuation survey.
Q: I don’t understand parts of the survey. Can I contact the surveyor and ask for advice?
A: No. The surveyor is permitted to give the exact same information to everyone who requests the Single Survey in order to not overtly influence the sales process so no additional details can be requested.
Q: Can I ask another surveyor to ‘interpret’ the Single Survey for me?
A: The other surveyor would probably have to visit the property before he or she could advise you accurately.
Q: How can buyers receive a copy of the Home Report?
A: The interested buyer should ask the agent or solicitor for a copy of the Home Report. A copy can also usually be requested via property sites such as Rightmove or Zoopla if the property is being advertised there.
Q: Will it cost buyers anything to obtain a copy of the Home Report?
A: No, only of they request a posted copy then postage may be added.
Q: How quickly must a seller or their agent comply with a request by a prospective buyer for a copy of any or all of the Home Report documents?
A: The agent/solicitor marketing the property must provide a copy of any or all of the documents within 9 working days.
Q: If I buy the house, do I have to pay the seller back for the cost of the Home Report?
A: This is a matter between the buyer and seller but this is not a common practice.
Q: Are Home Reports required across Scotland?
A: Yes. All houses marketed for sale in Scotland will require a Home Report, with only a few exceptions. A seller does not have to give you a copy of the Home Report if they think:
- You could not afford the house;
- You are not really interested in buying the house;
- You are not a person to whom the seller would wish to sell the house (but this does not allow them to unlawfully discriminate against someone).
Q: What can buyers do if a Home Report is not provided?
A: Buyers should receive a Home Report within 9 working days of requesting it. Sellers may refuse to provide a copy in certain limited cases.
Q: Will the risk of flooding be included in the Single Survey?
A: No, but the Property Questionnaire, which will be made available to all prospective buyers, contains a question asking sellers to confirm whether the property has previously flooded. A buyer can find out if an area could be affected by flooding from either a river or the sea by accessing the Scottish Environment Protection Agency website.
Visit www.sepa.org.uk for more information.
Seller – Q&A
Q: Does the valuation in the Single Survey effectively fix the price of my home?
A: The market dictates what someone would pay for your home so although the valuation in the Single Survey can give an approx. valuation of the market price and indicate what you would accept as a fair offer it does not mean you will not get offers below or above the Single Survey valuation.
Q: Can I ask the surveyor to revise the valuation if I think it underestimates the value of my home?
A: No. The surveyor will use their expertise as well as any additional information provided by you and your solicitor to make a valuation. They will only make changes for factual details incorrectly put in Home Report such as the address or the council tax band although these very rarely happen.
Q: Can I instruct more than one survey?
A: Yes. A person can instruct as many surveys as they want although you only need one for advertising the sale legally.
Q: Can I instruct another survey if I have completed any repairs mentioned in an earlier survey?
A: Yes. It may be cheaper to get the same surveyor back to revise the original Home Report and include the repairs as opposed to getting a new surveyor.
Q: How much will a Home Report cost?
A: The cost of a Home Report is based on the valuation of a property. The seller will know generally what the value is and the survey company can check to see what bracket it falls into to see what the cost is for a Home Report.