Home reports needed for Scottish property sales
Home reports needed for Scottish property sales
Property for sale in Scotland is now required to be marketed with a home report. The report will include a survey as well as a property questionnaire and an energy report.
The new home reports have been welcomed by consumer rights group Which and are the Scottish equivalent of
Home Information Packs (HIPs), introduced in
England and
Wales last December.
The inclusion of a survey in the
home report is expected to particularly benefit first time buyers who may not have been able to afford one themselves and help them get on the property ladder.
The
property information questionnaire will be filled in by the seller and includes key information such as council tax banding.
Not every property for sale in
Scotland will need a home report. For example, homes already on the market and newly built properties will be
exempt. A full list of exceptions can be found in Which's guide to home reports.
David McLetchie, a Conservative member of the Scottish parliament, told The Telegraph that home reports could cost up to £800 and were a "disaster waiting to hit the
Scottish housing market".
However, Stewart Maxwell, Scottish communities minister, defended the move:
"This is the
right time to bring this product forward - everybody agrees that the best time to do it is in a quiet market. The vast majority of sellers are also buyers and they will
save money when they purchase their next home."
HIPs do not include a property questionnaire at present, but the government is said to be considering adding this requirement. A decision is expected by early 2009. Likewise, the HIP does not require the seller to include a survey.
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