News & Updates
Introduction of Home Reports
As of 1st December 2008, the way properties are bought and sold in Scotland will alter as a result of the introduction of Home Reports. From this date, anyone marketing his home for sale will need to prepare a Home Report before the property is advertised for sale in any way.
The Home Report is divided into sections, each of which is designed to provide both buyers and sellers with information on the condition and value of the property. The Report will be available from the outset and prior to any offers being submitted.
The Home Report consists of a Single Survey, Energy Report and Mortgage Valuation (for the buyer's lender) which will be prepared by a qualified Chartered Surveyor, together with a Property Questionnaire which will be completed by the seller.
There is a substantial amount of work involved in preparing all of these documents and pulling them together in the Home Report. At T C Young, we are well placed to ensure that the process is carried out quickly, efficiently and in compliance with the law. Our estate agency and conveyancing staff have undergone extensive training in anticipation of the new legislation and, while there are bound to be some teething problems, we are confident that we will be ready for every eventuality.
Every residential property marketed for sale in Scotland after 1st December 2008 must comply with the new legislation and we at T C Young are well placed to guide you through the entire process.
Should you wish any further information on the implications of the Home Report for either buyers or sellers, please contact a member of our conveyancing and estate agency team who will be happy to answer any queries you may have.
Isabel Ewing (Partner) Email: iee@tcyoung.co.uk Direct Dial: 0141 225 2563
Lesley Hurst (Partner) Email: lah@tcyoung.co.uk Direct Dial: 0141 225 2579
Alison Hempsey (Solicitor) Email: amh@tcyoung.co.uk Direct Dial: 0141 225 2573
Arleen McDonald (Paralegal) Email: axm@tcyoung.co.uk Direct Dial: 0141 224 2554