HOME REPORTS
With a very limited number of exceptions (for example new build properties) homes that are advertised for sale from 1st December 2008 will require a Home Report.
The Report consists of a pack of documents that will report on the condition of the property, it will contain a valuation of the property and a report on the home’s energy efficiency.
The onus for providing the Home Report rests with the seller, who will be responsible for the costs involved in obtaining the information required and producing the Report. A prospective purchaser will be able to rely on its content and is entitled to ask the seller for a copy of the Report. The Report comprises three documents:-
THE PROPERTY QUESTIONNAIRE
This is completed by the sellers and contains useful information helpful to a purchaser, for example details of any alterations to the property, the council tax banding, factoring details and details of repairs.
THE SINGLE SURVEY
Although instructed by the seller, the Survey is prepared by a Chartered Surveyor and will report on the valuation of the home and its condition.
THE ENERGY REPORT
Again this is prepared by a Chartered Surveyor and will report on the energy efficiency of the property, its environmental impact and if appropriate will suggest ways to improve the property’s energy efficiency.
Home Reports will dramatically change the level of information that a seller will legally be obliged to have available when selling their home. For more information on Home Reports please contact Miller Samuel LLP Residential Property Unit.
Edward L. Laverty
Head of Private Client Department & Residential Property Unit
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