Shepherd Chartered Surveyors has said that concerns expressed about the level of actual house prices and costs of the Home Report since the introduction of Home Reports in Scotland in 2008 have heightened following the recent scrapping of Home Information Packs (Hips) south of the border, resulting in widespread confusion amongst home owners and prospective homebuyers in Scotland that requires urgent clarification.
It is therefore vital that sellers and buyers are aware of the advantages of commissioning a Home Report direct from a Chartered Surveyor.
Ian Fergusson, Senior Managing Partner at J&E Shepherd, said: “Only a member of the Royal Institution of Chartered Surveyors (RICS) in Scotland is legally qualified to undertake the necessary property survey and produce a Home Report. The advantage of directly appointing a RICS surveyor means that the surveyor will discuss any matters relating to a property personally with the seller and the actual buyer.
“And whereas HIPs were an unmitigated disaster in England and Wales, in contrast, Home Reports, which are an entirely different product, have been an acknowledged success and have played a significant role in the resilience of home sales in Scotland.
“HIPs failed because they were effectively an empty product which did not provide the information about valuation and condition that Home Reports do. This contrasts sharply with the mounting evidence which suggests that Home Reports are assisting the recovery of Scotland’s housing market by providing a clearer and more understandable system for buying and selling homes.”
According to Fergusson, Home Reports make the process of buying a new home more transparent by removing much of the uncertainty over what price to bid and accept. By so doing, they are encouraging a much-needed flow of transactions in a housing market still limited by confidence levels and lending restrictions.
“Most home buyers and sellers in Scotland have demonstrated their trust in, and understanding of, the role played by Chartered Surveyors in undertaking Home Reports and, by so doing, have enabled the property market to readjust itself to reflect more realistic values; a readjustment that would have been more problematic to achieve under the previous system,” he said.
“The fact is that Home Reports are not HIPs and, where they are commissioned directly from a Chartered Surveyor, the advice and information they offer is helping homeowners buy and maintain a property over the period of ownership, thereby protecting the value of what is likely to be their biggest asset.”
For further information please contact Ian Fergusson tel 01786 450438
Issued on behalf of J&E Shepherd by Liquorice Media tel 0141 561 4018 www.liquorice-media.com
Date 26th August 10