15 AUG 2018
The Home Report was developed by the Scottish Government and RICS’ Scottish Residential Board; however, Ian Gillies and James Gibson were especially important to its success.
The Home Report comprises of a condition report, valuation and EPC and is required by law prior to a home being marketed in Scotland. It was introduced in 2008 under the Scottish Government’s Housing Act, with the aim of providing potential buyers with free upfront information on the condition and value of a property prior to purchase. The report is made up of four components, a single survey, a valuation an energy report and a property questionnaire.
The Home Report was developed by the Scottish Government and RICS’ Scottish Residential Board; however, Ian Gillies, former Senior Partner at property consultancy Graham & Sibbald and James Gibson, Managing Director of Harvey, Donaldson & Gibson and ex-Chairman of RICS in Scotland, were two of the key players who helped deliver the final product. They were both members of a steering group set-up by the Scottish Government to develop the report and were instrumental in determining its content.
The Home Report is made up of a single survey, which contains an assessment of the condition of the home, a valuation and an accessibility audit. It is also made up of an energy report, which gives the home an energy efficiency rating and recommendations on how the home could improve efficiency and reduce fuel bills. The final part of the report is a questionnaire, which is completed by the home owner, that contains any additional and useful information, for example the council’s tax band, parking arrangements and whether there are any additional costs associated with living in the property. The Home Report is mandatory for all properties (with a few exemptions) put on the market and must be carried out by a RICS Professional.
Despite some initial resistance, the Home Report has been embraced by the mainstream surveying profession and property agents, who recognise the Home Report has successfully allowed both buyers and sellers to make better informed decisions.
The Home Report has also ensured that potential purchasers are provided with free, upfront information on the condition and value of a property at the point of viewing. The Home Report will be 10 years old in December 2018.