If you are planning to sell a property in Scotland, it’s important to understand the legal requirements that come with the process. The two key documents that you will need are a Home Report and an Energy Performance Certificate (EPC). These documents play a crucial role in the selling process and provide important information to potential buyers, and (unless you are going to sell your property to a private individual without putting it on the open market) the onus is on the seller to provide these documents.
A Home Report is a comprehensive document that provides potential buyers with detailed information about a property, including its condition, value, and other important details. The Home Report is typically prepared by a qualified surveyor and consists of three parts:
- a Single Survey – provides an assessment of the property’s condition and includes details about its structure, fixtures, and fittings.
- an Energy Report – includes an Energy Performance Certificate which provides information about the property’s energy efficiency.
- a Property Questionnaire – contains additional information about the property, such as council tax band, parking arrangements, and any alterations made to the property.
In Scotland, it is a legal requirement to provide a Home Report to potential buyers when selling a property on the open market. The Home Report must be made available to potential buyers free of charge and must be provided within a certain timeframe after the property is marketed for sale. Failure to provide a Home Report can result in penalties and may delay the sale process.
The Home Report provides several benefits for both sellers and buyers. For sellers, it helps to streamline the selling process by providing all the necessary information upfront, reducing the need for multiple surveys and inspections. It also gives potential buyers a clear understanding of the property’s condition and value, helping them make informed decisions. For buyers, it provides peace of mind by offering comprehensive information about the property, allowing them to assess any potential risks or issues before making a purchase.