Home Report in Scotland

celtickaz

Hi, looking for some advice on the Home Report you need in Scotland before you put your house on the market. I know I need this no matter what but how good have they been with the valuation - has the surveyor valued your property at what you and your estate agent has thought, how much did the report cost. And did you get the Home report done through the estate agent or a complete separate surveyor? Has anyone found this to be completely detrimental in the sale of their house?

Any advice on how to get the most out of what seems to be a useless report would be great.

Mistymaid

I haven't done this yet but have been looking into it. Nightmare.

Best to phone round to get the best deal. If you are in a city such as Edinburgh the prices from surveyors directly seem to be a lot more competitive.
To give you an example my quotes so far have gone like this:
A 65k house in Edinburgh total cost £300
A 65k house in Aberdeen total cost £390
A 65k house in mainland Orkney £510
A 65k house on the outer islands about £750
I think you'll find Shetland is about the same.

One of the major problems, apart from the fact the Home Report is different to the HIPS, is that the surveyor doing it has to have 'knowledge of the local residential property market,' therefore you can't have somebody from Perth travelling to Orkney (not that they'd do it) so the outlying surveyors basically have a cornered market because nobody else wants to do the travelling/associated costs, therefore there is no competition - not good in any market place.

Just out of interest if the property you are selling isn't mortgagable then you don't need the 'generic valuation' part of the survey - which may/not save you money.

I can only speak of one case whereby the valuation side of the survey was substantially different from the EA's valuation but I haven't found anybody yet whose buyers have thought they were useful and all went on to have their own done again. Of course, this is just in my limited experience of speaking to people and plenty of others may have found them useful.

asset2004

I've looked at a couple of home reports - they are truly awful, what a waste of money for the seller to get and they only last 6 months.
IMO Home reports are not helping the housing market one bit.

54druids

Don't get me started! Firstly see my previous posts about my home report. I will try to keep the summary brief. My house same as house around the corner save a very basic conservatory. Different surveyors carrying out home report valuation. My house 35k less in value then house around the corner. 6 months down the line I have sold my house and they haven't (well not signed for as yet) and my purchasers have to pay for a valuation survey. Home reports are a waste of time and taxpayers money especially on brand new properties like mine. I personally cannot see the point of them at all since surveyors cannot be held responsible if something is found to be untrue on the report at a later date. However, I would say to you to research your surveyors like you would your estate agents. Check out how they value property, ask people locally or estate agents to get a feel for the surveyor. For example, I went with DMHall and paid 600 quid then found out later they are well known for low valuations but they are on the board for all the banks.( but then my buyers still needed a survey aghhhhh!)

Mistymaid

They are supposed to last longer than 6 months, Asset - but I can't ascertain exactly which bit last how long ...

Druids, you have my sympathy.

Mistymaid

Just been on another site to have a peek at what's happening and regarding the cost of valuations it seems to flow that it's most expensive to get a HR done via an EA, next best is approaching a surveyor directly, cheapest is to go via an online broker who contacts the surveyor.

Another aspect is that people are reluctant to pay more than the valuation in the survey, hence the system that used to be directed by the EA's valuation is no longer in the lead and it looks like the O/O traditional route is taking a bit of a kicking. So if a HR value comes in at 250k and the property is put on the market at 270k, then buyers aren't willing to proceed.

Also it seems that the valuation side of the report may only be valid for 12 weeks, plus, since the report is commissioned for the seller and not the buyer, most mortgage companies want new surveys anyway - as of course do the buyers because they have no recourse with the surveyor.

Good innit?

celtickaz

Thank you to all for your replies, what a waste of money. So far I have been told around £400 for the Home Report and thats with a surveyor through the estate agent. I have been told this Report takes account of decor etc so I have to wait till middle of next week before I can think about getting a surveyor out so I might phone round a couple myself. Aaagghhh more time wasted!

googler

If you order your own Home Report, how will your EA be able to provide a copy to prospective buyers? Are you going to e-mail them out, or are you going to forward a .pdf to your agent?

nat82

We have just bought our first house and the Mortgage Valuation part of the home report expired the day before our offer was accepted. We are just waiting on the mortgage centre getting back to us to say whether they will accept it or not! This part is only valid for 3 months. Seems to be alot of faffing around with these reports.

googler

What do you mean by 'expired' ???

nat82

You have 3 months from the date on the report for the mortgage valuation, the report for the house we are buying was 3 months old the day before they agreed our sale. The MVR is currently with the mortgage centre and we are waiting to see if they will accept it (it was only 5 days over the 3 month period) or if they will want another MVR.