Scotland - buyers Lender refuses sellers Home Report

googler

BigAunty wrote: »

Home Reports were introduced to stop the practice of buyers from having to pay for multiple surveys on multiple occasions as the offers over system means that the buyers can be outbid and not secure the property and it might have 10 bidders who each pay for a suvey. Now they seem to have merely moved on the multiple costs to the seller.

The legislation has, in the strictest terms, achieved what it set out to do. You've complied with your legal obligation. It's the lenders who have monkeyed around with their additional requirements and sent it all skew-whiff.

BigAunty

The new surveyor spent about 10 mins in the property. Had to pay nearly £200 again even though they are not producing the energy report or survey again as I anticipated because the cost for the new one so similar to the previous complete HR that contained all components.

The new surveyor speculated that the previous survey company many not have made the lenders list as it's a newer company compared to his and said that it was hard for surveyors to make the lenders approved list.

Just an update for information sake to warn property sellers in Scotland that their Home Report may not be worth the paper it's written on when the buyer forwards it to the lender.

hcb42

I think this is an awful system myself, solved the wrong problem imho!

googler

hcb42 wrote: »

I think this is an awful system myself, solved the wrong problem imho!

What system would you have implemented, to solve which (right) problems?

missile

What a crock, the Home report is a worthless waste of time and money.

googler

Would you rather go back to the previous system, wher either a number of buyers got their own surveys prior to offering (sometimes multiple surveys from the same surveyor), or every offer was made 'subject to survey'?

If so, why would you prefer this?