What is a Home Report?

A Home Report is a pack of documents that give potential buyers information about a property for sale. This was introduced in Scotland on 1st December 2008. All properties that are advertised as for sale in Scotland must have a report prior to going on the market.

The report consists of three components:

1. A Single Survey
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• An assessment of the condition of the home (for example, the roof, internal and external walls, plumbing and kitchen fittings)
• A market valuation

2. An Energy Report

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• The energy report gives the home an energy efficiency rating. The higher the rating, the more energy efficient the home is, and the lower the fuel bills are likely to be. It also looks at the impact the home has on the environment, through carbon dioxide emissions. The report looks at features such as how well insulated the home is, and how it is heated.
• The energy report also recommends ways to improve the home’s energy efficiency and reduce fuel bills.

3. A Property Questionnaire

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The property questionnaire contains additional useful information about the property, for example:

• The property’s council tax band
• Parking arrangements
• Alterations that have been made to the property
• Whether there are any extra costs involved in living there (such as charges for the upkeep of communal areas).

How much does a Home Report cost?

The cost of a Home Report is depending on the value of your property and can range from around £400 up to and exceeding £1000.

How do I get a Home Report?

If you are selling your property using an estate agent or solicitor they should arrange for the Home Report to be carried out on your behalf. The single survey and energy report must be carried out by a qualified surveyor. The seller or their legal representative will be responsible for filling out the property questionnaire.

How long does a Home Report last?

A Home Report lasts for the length of time your property is on the market although if the date on the Home Report is longer than 12 weeks the purchasers’ mortgage lender may ask for an updated Home Report. It would be up to the buyer and seller to decide who will pay for the updated report although the expectation often is that the seller will pay for this

What if the survey finds a problem with my property?

It’s up to you to decide what to do if the surveyor identifies a problem with your home. You don’t have to fix the problem if you can’t afford it or don’t have time. However, bear in mind that the defect may affect the price you get for your home, so ask your estate agent for advice as to whether or not it will be worth putting the problem right.

If you have any further questions on a Home Report please do not hesitate to contact a member of the Blackadders Property Team who will be happy to answer any questions you may have.

Nahdean

Nahdean McLarty
Property Manager
Blackadders LLP
@BlackaddersLLP

www.blackadders.co.uk

 

What is an Online Estate Agent?

A commonly misused term of 21st-century estate agency is ‘online estate agent’. The terms itself is a play on words and in my opinion should be rebranded as ‘online-only estate agent’. Indeed, every estate agent whether it is traditional, online-only or other is almost certainly going to advertise online. With this in mind, the key question any would be Seller needs to ask is NOT whether or not you are an online agent. But WHERE online do you advertise?

It is crucial that Sellers take into account regional variations on this key marketing point. There are significant geographical differences that should be considered. At Blackadders we are well placed to advise clients on where best to advertise online and back up our advice with evidence.

If you are considering selling your home and would like to discuss this in more detail do not hesitate to contact the Blackadders Property Team.

Brian MainBrian Main, Estate Agency
Angus Area Manager
Blackadders LLP

@BlackaddersProperty
@BlackaddersLLP
www.blackadders.co.uk

5 things you should do before you buy

Thinking of buying a new home? Then there are 5 simple steps to take before you purchase:

  1. Contact Blackadders and appoint a solicitor.
    We will explain the purchase process, timescales and the costs involved including any tax and registration dues so that you can budget accordingly.If you like the property we can lodge a Note of Interest on your behalf.  This has more weight than a personal note as the formal note from a solicitor means you are a serious house-buyer.  We can advise on the negotiation process and make a formal Offer on your behalf.

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  2. Have a wish list but realise that you may have to compromise.
    Remember that unless you are buying a new build property the property is second hand and you may need to budget for future repairs and decoration.

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  3. View a range of properties.
    It is important to compare and contrast to see what you are getting for your money.

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  4. Home Report and Schedule.
    Make sure you ask for a copy of the Schedule and Home Report for any properties that you are interested in so that you can check what is included and the condition of the property.  If the report recommends a contractor should check the property (for example a timber specialist if there is wet rot or woodworm) then you should make any Offer subject to an inspection or arrange for the property to be checked prior to the Offer. You may need to do this if the property is popular as a seller may prefer a “Clean” Offer”.

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  5. Get a second opinion.
    Visit the property more than once and if possible with a friend or relative who can give you an honest second opinion without the “rose tinted spectacles”.Visit the property at different times of the day so that you can suss out the parking, traffic, sunlight hours in the garden, and the neighbours.Test the systems – flush the toilets, turn on the showers, open and close the windows.  Once an Offer is accepted generally you cannot revisit the property until the written contract is concluded.

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For advice on house purchasing contact Joanne Grimmond at Blackadders LLP. 

Joanne Grimmond, PartnerGRIMMOND, Joanne
Blackadders LLP

@jo_blogs_law
www.blackadders.co.uk

New build homes the way forward?

With the current lack of availability of residential homes throughout Scotland, there has never been a better time to consider new homes either as a Purchaser or as a Developer.  At Blackadders, we have a proven track record in helping both purchasers and sellers alike within the new build market.  From a Developer’s point of view, the initial identification of a site and subsequent site acquisition is paramount and Blackadders are well placed to give advice on all pre-purchase aspects. As soon as a site is identified we can provide up-to-date sales information on what type of design and size of a house is selling along with a guide to eventual sales yield.

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From a marketing perspective, we have the proven track record of selling new builds and conversions, the most recent of which being the successful conversion of the Taychreggan Hotel in Broughty Ferry into luxury apartments and also the prestigious development within Trust House, Liff.

From a Developer’s aspect, it is important to ensure that the pricing is correct on every unit. It is not just a simple case of using floor area as the ultimate guide to value.  Every unit is individual and this coupled with the quality of finishes can make an enormous difference along with the location of preferred plots to the eventual sale price.

Trist house liff (martins blog)
Trust House, Liff

Our marketing strategies are usually bespoke to the Developer’s requirements.  However, a basic guide to our service levels would include working with the Architect, preparing brochures, signage, marketing materials and advertising the properties through various portals including Solicitors Property Centres, Rightmove and Zoopla, as appropriate.  We would also distribute the properties throughout our East of Scotland network and through both our national and international mailing list.  Our Sales Staff provide ongoing site appraisal reports and would work hand in hand with the Developer. The initial launch may include newspaper advertising and we would also use our contacts within the media to generate other publicity. We offer a 7-day service and extensive use of social media.

Every development is unique and we would undertake an individual approach to any marketing needs.

Should you have any queries whether as a Purchaser or a potential Developer please contact our New Build Team on 01382 342222.

MJPMartin Paterson
Director of Property Services
Blackadders LLP

@BlackaddersLLP
www.blackadders.co.uk