In Scotland almost every property marketed for sale requires a home report. Most homes cannot go to the market without one. It’s really important to understand the cost of this report to you, so what is the cost of a home report in Scotland?
Selling your home is a really costly process from beginning to end. Here we outline the cost of a Home Report here in Scotland. And who pays for it!
How much will I pay for a home report
This will depend on the value of your home. Surveyors will often outline a scale fee structure. In my experience it is always a fixed fee, so no nasty hidden costs.
The below table gives you an example of costs. Some surveyors may be ever so slightly more, or less. All reputable surveyors will be in this price region in Scotland.
If your property is a substantial distance from the surveyors office you may have to pay an increased fee for the travel. They will outline any additional travel costs at the outset.
|Cost of Home Report (inc VAT)
|£100,000 – £200,000
|£200,000 – £300,000
|£300,000 – £400,000
|£400,000 – £500,000
|£500,000 – £600,000
|£600,000 – £700,000
|£700,000 – £800,000
|£800,000 – £900,000
|£900,000 – £1,000,000
|£1,100 as a minimum and often POA
Who pays for the home report
The seller of the property is responsible for the cost of the home report.
When do I pay for the home report in Scotland?
The home report must be completed before your property goes to the market. The surveyor will often ask for payment before they visit your home. Expect to pay for this over the phone by credit or debit card.
If they do not ask for payment before they visit, they will often ask for it before they issue you with the draft report.
What is included for the cost of your home report
The cost includes the surveyors visit to the property. They will inspect both the inside & outside of the home, along with any outbuildings and garages. They will also look at any land that is included with the house, whether it be a garden or paddocks.
Along with confirming the value of your property, the surveyor has to take the time to prepare the professional report on the condition of your home and specifically those areas outlined in the home report.
The surveyors report will also include the EPC (Energy Performance Certificate) . Together with a mortgage valuation report, which includes information that your buyers mortgage lender will require.
Get a quote first
Always shop around. Most areas across Scotland will have a good choice of reputable RICS surveyors (Royal Institute of Chartered Surveyors) qualified and experienced to complete home reports. Phone or email at least 3 companies to obtain quotes.
Do not go cheap!
You may have heard me say it before but ‘If you pay peanuts. You will get monkeys‘. My advice… stay away from national companies with no local offices. You want a surveyor who knows the local market, is experienced in the local area and importantly is on all the major mortgage lenders panel.
The cost of the home report is a really big outlay for you at the beginning of the process. Yet, it is one of the most important outlays when selling your home. Feel happy and confident in your choice of surveyor and inspect your draft home report thoroughly for errors & inaccuracies. If you do all this, you will feel like its money very well spent and enter the market as a confident seller.