Page 18 - July 2023
P. 18

EXPERT ADVICE                                                                                                                                       DREAM HOMES


       What to look for in the

       Home Report when
       buying a property                                                                               Coasting                             along



       David Marshall, Operations Director
       at Warners, discusses how to use a
       Home Report.

                                                                                                              Dreaming of a more relaxed pace of life?
                                                                                                          This St Monans townhouse could be just the place.
            ome Reports have been a fixture in the   Within the survey, aspects of the property are
            Scottish property market for almost 15   graded from one, indicating that no action
      Hyears, but because buying a property is   or repair is needed, to three, which suggests
       something that most of us do relatively rarely   immediate action is required to address an
       many people still have a limited knowledge   issue. If you are buying a property of a certain
       of them. Our purchasing team at Warners is   age then some twos are to be expected,
       frequently asked ‘what’s in a Home Report?’   but if there are any threes these should be
       and ‘what should I be looking out for in a   investigated.  The  easiest  way  to  do  this  is  to
       Home Report?’                        have your solicitor make any offer subject to a
                                            relevant specialist report.
       There are three elements to a Home
       Report:  the survey  element  which  covers   Rising energy costs mean that the EPC rating
       the condition of the property, the Energy   is of greater importance to buyers. The EPC will
       Performance  Certificate  (EPC),  and  the   give an indication of both the property’s current
       Property  Questionnaire  (PQ)  which  provides   energy efficiency as well as the steps that could
       more general information about the property.   be taken to improve this.
       The  first  two  elements  are  completed  by  a
       surveyor, whilst the seller completes the PQ.  Finally, you should keep an eye out in the PQ for
                                            the ongoing costs associated with the property,
       Fortunately, you can request Home Reports   such as factor fees and council tax. The PQ also
       directly from espc.com. There is lots of useful   provides information on any alterations the
       information in it, but there are a few things you   owner has made to the property, and whether
       will want to focus on. The most obvious is the   relevant consents are in place for these.
       valuation which gives the surveyor’s view on
       the value of the property. This can be used   Being able to navigate a Home Report is
       as a starting point on how much to offer, and   important when buying a property. Your
       your solicitor will be able to offer additional   solicitor  and  financial  adviser  will  be  able  to
       insight based on the level of interest in the   advise on any queries that you have about the
       property, recent sales comparables, and your   report helping you to avoid any potential pitfalls
       own circumstances.                   when looking for your new home.


                 If you’re looking to discuss your property sale, get in touch with Warners on 0131 667 0232
                                  or email sps@warnersllp.com
   18  |  espc.com                                                                                                                                             espc.com  |  19
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