How Long is a Home Report Scotland Valid For?
Whether you are a buyer or a seller, it is important to have a plan in mind when it comes to setting up a sale. Buyers will want to obtain home report surveys as soon as they know they are interested in buying a property. Sellers, meanwhile, will need to make sure that they have as much information compiled as possible. This is so that their buyers can take greater confidence in decision-making.
But how long does a Home Report Scotland and elsewhere last for? Is there a date of expiry for a report or survey – will you need to top it up, or will it cover you for a long period?
Home Report Expiry Date
Home Reports have no ‘expiry’ date. If you are selling your home your Home Report should not have been compiled any more than 28 days before it is marketed.
Properties tend to move quickly towards a sale in the Scottish market. However if you have not sold your property within 3 months of the date of your home report your buyer may request a ‘replacement’ Home Report. This is because a mortgage lender will not accept a valuation which is any more than 3 months old! Don’t worry! its not necessary to get this every 3 months when your home is on the market, just at any point after 3 months when you sell your home.
Arranging a home report Scotland and elsewhere, even as a replacement, is easier than you may think. Sellers are able to approach chartered surveyors for renewed confidence without having to worry about waiting long periods for inspections or report filing. Ultimately, you will be given timescales and expectations will be made when you first enquire.
What should you expect from your replacement Home Report? Well, if there has been little change in condition or the value of your home its a really simple answer – you can expect the same comprehensive report with a new date confirming that a replacement has been done!
For more information on what a replacement report may entail, call Home Report Scotland on 0141 227 6198 for a chat.