Our base in Central Scotland is Perth, a city in the county of Perthshire, located on the River Tay. Coined by Scottish Romantic writer Sir Walter Scot as ‘The Fair City’, the area boasts a population of around 47,000 and is a key business and retail hub for the surrounding, more rural, towns and villages of Perthshire and beyond; for this reason, the city is known as the ‘Gateway to the Highlands’ - it is an extremely well connected area of the country, whether North or South.
Perth has a vibrant and diverse economy of large companies, public sector, small and medium sized business and a self-employed business community. Renewable energy, insurance and manufacturing are particularly affluent industries. Perth and Kinross Council is the biggest employer of around 6000 residents alongside NHS Tayside, Scottish Southern and Energy and Stagecoach.
There is a bustling city centre with plenty of high street retail outlets and independent shops that attract both local residents and those from further afield rural areas.
The area has enjoyed a buoyant property market in recent years with increases in sales and house prices; the area is particularly resilient against the political upheaval which has affected other markets in the country.
The area is unusual in that it is not only current residents that buy here but those relocating from England too, which keeps the market fresh. Likewise, value for money is a real draw, particularly among affluent buyers who recognise the superior property choice they have in comparison to Edinburgh or Glasgow whether it be a traditional or new build home.
Home Reports – Explained
Home Reports were introduced on the 1st December 2008 under the Housing Scotland Act 2006. The basic premise is to provide potential purchasers with better information regarding the condition and value of the property they wish to buy. It is the Vendors responsibility to organise and pay for the Home Report. If a property is to be marketed in any shape or form, a Home Report is required. Home Reports are not required for private sales which may include intra family sales. As long as the property is not marketed, no Home Report is required. Further exceptions include; new build housing, newly converted premises, right to buy homes, portfolios of residential properties and unsafe properties.
What is a Home Report?
A Home Report consists of a Property Questionnaire, Single Survey which includes an assessment of the condition of the property, a Mortgage Valuation and an Energy Report. In Scotland, Chartered Surveyors are the only profession who are authorised to undertake Home Reports.
What is in a Home Report?
Section 1 of the Single Survey is all about description of the property. The Home Report details approximately 25 different areas of the property which may include windows, floors, heating, garages, boilers, external walls. Section 2 details the condition of the property. Each individual element mentioned in Section 1 has a condition category placed against it. Condition Category 1 may indicate that this individual component of the property is free from any significant defects. Category 2 may indicate that works are required now or will be required in the future. Category 3 may indicate that urgent works are now required. This may include severe dampness, dry rot or on going structural movement. Section 3 is the Mortgage Valuation. This is a condensed version of all the important matters and this is sent to a Bank or Building Society. The Valuation within the Mortgage Valuation is based on current sales evidence of similar style property within the surrounding area. Section 4 is the EPC, Energy Performance Certificate, Energy Report. All properties which are to be sold or let now require an EPC, Energy Report, Energy Performance Certificate. The last section is the Property Questionnaire. This part of the Home Report is filled out by the Vendor or the Vendors representatives. The Property Questionnaire includes questions which usually only the owner of the property would know the answer to. These may include who provides Electricity, Gas Services etc. Other questions include; have any structural alterations been made to the property or have any damp/timber treatments been undertaken.
Who provides a Home Report?
In Scotland Home Reports are provided by Chartered Surveyors who are professional members of the Royal Institute of Chartered Surveyors (RICS).
Who needs a Home Report?
Any property which is to be placed on the Market requires a Home Report. There are exceptions. Examples of exceptions are new build housing, newly converted premises, right to buy homes, portfolios of residential properties and unsafe properties. These type of properties do not require Home Reports. A general rule is if the property has a single private dwelling and is reasonable condition and is to be placed on the Open Market, either via an Estate Agent or even a poster in a window, a Home Report will be required.
Example Home Report
Some of the regulations surrounding Home Reports include:
1 – The Home Report must be no more than 12 weeks old when the property is first marketed.
2 – The property can be taken off the market for up to four weeks without having to arrange a new Home Report.
3 – The Home Report does not need renewing if the property is continuously marketed. If it takes longer than three months to sell the property, a Replacement Home Report may be required for lending purposes but this will only be needed at the time of sale, not every three months.
There are far more regulations surrounding Home Reports. Further information can be found at this website:
If you would like any further information, or would like to arrange a Home Report, please do not hesitate to contact us. Details as follows:
Address – 22 - 24 George Street, Perth, PH1 5JR
Phone – 01738 444414
Home Report Quotation
If you would like a quote for a Home Report please contact the office or click on this link: