Since 1st December 2008 sellers are required by law to provide a Home Report for their property. The Home Report is paid for by the seller and is designed to ensure potential buyers are more informed about the property before they consider submitting an offer.
A home report consists of three parts:
Compiled by a Chartered Surveyor with detailed information on the condition of the property. It also contains a property valuation - the price which the surveyor deems the property is worth in current market conditions.
This is generally carried out by the same surveyor who conducts the single survey and provides an assessment on the property's energy efficiency rating and environmental impact. Improvements, if appropriate, are also suggested within the report.
The seller will complete a property questionnaire which will include information such as council tax band, property enhancements and alterations made, car parking, responsibility for common areas (e.g. factor's involvement) and other information relating to the property e.g. key utility providers and servicing records for heating/plumbing systems.
Costs are determined by the value of the property and increases with every additional £100,000 of value. Costs range from less than £400 for properties below £100,000 in value up to in excess of £1,500 for properties over £1.5million.
We can arrange a home report on your behalf and our valuer will discuss this with you during the valuation.