| From today, sellers will have to provide a comprehensive survey of their home whereas before would-be purchasers had to pay for a survey of the property they were interested in buying.
The cost of the survey will be between £350 and £800, depending on the size of the property, and the surveyor involved.
From next month, sellers will need to get an energy report on their home and fill in a questionnaire to complete a home pack for prospective buyers too.
The new home report system is intended to simplify the procedure for buying a home and make it cheaper for purchasers, who often had to commission more than one survey before finding the right home.
However, most Dundee property experts believe the new system will only slow the market down.
Brian Main, property manager at RSB McDonald, said the new scheme would cost sellers hundreds more – while buyers will still have to pay for their own surveys.
“I think it’s the wrong time for it to be introduced given the slowdown in the market,” he said.
“In reality, buyers are going to have to fork out for their own reports. Every solicitor I’ve spoken to has said they will recommend that people still put offers in subject to survey. The valuation will be out-of-date by the time a buyer is in place.” Lindsay Darroch, a partner at Blackadders, where he is also head of property, was equally damning.
“It is an unnecessary tax that increases the burden on the seller and buyer,” he said. “We think it is an unnecessary piece of legislation that will kill the housing market.
“We’re anticipating verybody we act for purchasing a house will still need to get the property surveyed if they’re getting a mortgage as most lenders have said they won’t accept the valuation.”
Graham Tonner, a partner with surveyors Graham and Sibbald, said, “Most banks will not accept a home report over 12 weeks old so once the report is older than that sellers will have to renew it or buyers will have to get their own valuation.”
The single survey scheme has been introduced despite the relative failure of a pilot in Dundee, Edinburgh, Glasgow and Inverness. Only 74 sellers chose to take part — and only four of those were in Dundee.
Professor Stewart Brymer, a partner at Thorntons Law, who helped draw up the Scottish Home Report believes the new system is a necessary change.
“The basic principal of providing more information for the prospective purchaser is a sound one,” he said. The existing system has worked well but improvements were required.” |
