When you are considering purchasing a new home you will see a Home Buyer Report which is created by the seller’s estate agent.
The Home Buyer Report provides you essential information on the property such as the structural integrity, general condition of the property, the running costs and energy rating and any investment that will be needed to make the property habitable. It will also have an Energy Performance Certificate and a completed questionnaire by the present owners. Here’s an overview of what you can expect to see:
The condition of the property
This section will list the features of the property and give each one a rating to indicate the condition they are in. The rating will suggest which repairs or replacements are required and this will help you to determine what to offer for the property bearing in mind a budget required to carry out any works.
The value of the property
The property valuation will tell you what the property is worth and give an indicator of what to offer – bearing in mind that it will be ‘offers over’.
The Energy Efficiency of the property
Here you’ll find out how energy efficient the property will be. You will also get an estimate of the running costs for energy bills. In Scotland the average Energy Performance Certificate (EPC) rating is D, with A being the highest, anything coming under ratings E – G will be more expensive to run and may affect your offer.
How accessible is the property?
This is essential information if you have a mobility problem or disability. It will take into account things like stairs and the location of the kitchen and bathroom.
Factor and Council Tax costs of the property
The council tax band will indicate how much you will have to pay annually. It will also highlight any factor’s bills that are already set up and that you may be required to pay to do with maintaining communal areas and the external structure.
Planning permissions applied for
It’s important to be aware of any planned works in the vicinity of your property as this can affect your view and the quality of life in the home. The Home Report will include a homeowner questionnaire, whereby the seller is required by law to inform you of any notices given or planning applications by neighbours within the past three years.
Is the property at risk of flooding?
This section will ask the seller if there has been any flooding in the property (inside or outside). You can check the Environment Agency website to assess future risk by searching your via your postcode if there has already been a flood at the property.
Guarantees and Warranties
You will also find out about any guarantees or warranties that relate to the property such as the central heating, plumbing, electrical work or roofing.
Asbestos, damp and dry rot
You’ll find out if these are an issue and whether it is a recurring problem. This could be a deal breaker on the sale.
Is it a listed building?
If a the property is listed it will be protected so it’s worth considering if you plan to make any changes as your ability to do this will be limited.