When you are buying or selling a property in Scotland it is a legal requirement that you get a property survey carried out. This survey should be supplied to the buyer so that they are aware of the details of several different aspects of the property. In Scotland, there are, however, three different types of surveys available to you when you are buying a property.
What is a Property Survey?
A property survey is an investigation that is carried out by a qualified assessor on a property that is being publicly marketed for sale in Scotland. It is a legal document that provides all of the information that a buyer would need to be able to make an informed decision about whether to buy the property or not – and for how much.
Some of the aspects that are looked at in the property survey include the condition of the property and any potential repairs or replacements that might be necessary to be done in the near future.
In Scotland, the law stipulates that it is the responsibility of the seller to organise and provide the property survey before it is put on the market.
There are three main parts to a home report:
- Energy Performance Certificate – This is a report that looks into the energy efficiency of the property. In the report, the property is given a rating that indicates how energy efficient the property is – giving the buyer an idea of how ‘green’ the property is as well as what the energy bills are likely to be like. The report looks at factors such as insulation and double glazing as well as the efficiency of boilers and also provides recommendations on how the property’s energy efficiency can be improved.
- Single Survey – Looks at the structural detail of the property and highlights any aspects that could be an issue for the potential buyer. The single survey will also examine internal and external walls, fittings, plumbing, and provide an estimated value of the property.
- Property Questionnaire – The property questionnaire looks at aspects of the property that can be researched through questions – such as parking arrangements, the predicted value of council tax payments, and ground rent arrangements.
What are the Different Types of Survey?
When it comes to surveys, there are three different types – the Home Buyers Report, a Valuation Survey, and a Full Structural Survey.
Home Buyers Report?
A Home Buyers Report takes a thorough look at the property, giving a financial valuation of the property, and is paid for by the seller. The Home Buyers Report will identify urgent and serious issues such as damaged timber or damp in the property and will recommend if any other more detailed reports are recommended.
The Valuation Survey is a requirement of the mortgage company and is normally paid for by the buyer. In this survey, the assessor will look at any aspects of the property that could affect the mortgage on the property and the security of the loan that is given by the mortgage company.
The Valuation Survey does not usually look at the structure of the building.
Full Structural Survey?
A Full Structural Survey is the most thorough survey that can be carried out on the property. The Full Structural Survey will examine all of the accessible parts of the property, detailing all aspects of the property including any recommended repairs or replacements and their cost. The Full Structural Survey can also look at any particular factors that you may be concerned about in the property.
The Full Structural Survey will formally report any parts of the property that need to be highlighted. This can be a useful survey to use to predict any extra costs that might be coming up – and help you to negotiate the price of the property if you wish to do so.
Arrange a Property Survey in Scotland today
If you are selling a property in Scotland a Property Survey will be required. Sellers are legally required to provide a Home Report within nine working days of its request. You should also remember that the price valuations that are provided are estimates only and do not fix the price of the property.
If you are putting your property on the market you can arrange for a qualified surveyor to visit the property at short notice by getting in touch with us here at Home Report For You either via our website or by telephoning our office.