What is a Home Report?
Home Reports were first introduced in Scotland in December 2008 for the benefit of property buyers. The intention behind the Home Report Survey was to provide better information about the condition of properties to sellers and buyers before offers are placed and give sellers an incentive to carry out repairs before marketing their properties.
The Home Report Surveys were also brought about to address the problem of multiple survey and valuations being carried out on the same property and to address the problem of artificially low asking prices being set.
A Home Report is a pack of documents that gives potential buyers information about a property for sale. The report consists of 3 documents:
- Single Survey & Mortgage Valuation Report
- An Energy Performance Certificate (EPC)
- Property Questionnaire
The Home Report survey can also have appendix documents attached, which are there to provide additional information about the property and its condition for prospective purchasers. For example, damp & timber specialist surveys or reports, roof reports, invoices or guarantees for previous works carried out.