Let's talk Home Reports
Both buyers and sellers must be able to rely on the professional foundations supporting Home Reports. A Home Report, the document which everyone selling their home in Scotland has to make available to potential buyers, has brought stability to the housing market.
This week Andrew form DM Hall chartered surveyors talks to ESPC about the value of home reports.
While there are plenty of companies touting “cheap Home Reports”, it is certain that a Home Report will only have credibility with potential buyers if it has been prepared by an experienced Chartered Surveyor who knows the local market.
There are five points sellers should consider when choosing their surveyor:
1. Are they on lenders’ panels?
Lenders can refuse to accept reports. Reports by professional surveyors are trusted and accepted nationally by lenders which, in turn, can accelerate the sale of a property.
A cheap Home Report may look attractive but a purchaser will have suspicions regarding the content and reliability of the information contained. You get what you pay for.
The valuation should be supported by the most up to date sales evidence. This will give comfort to a buyer who knows they can rely on the information provided.
Mainstream firms have strong relationships with solicitors and estate agents meaning sellers can be confident about experience, reliability and reputation. They are established for a reason, with a track record, because they can be trusted.
Surveyors should not only be independent of the seller and the buyer but also seen to be independent.
About the author
Andrew Milne is a partner in the Edinburgh office of DM Hall Chartered Surveyors.
Whether you’re selling your property, looking for commercial premises, requiring specialist building advice, or simply want to instruct an EPC, DM Hall can help you.