In a move approved by the Local Government and Communities Committee today, Communities and Sport Minister, Stewart Maxwell, said that from December 1, 2008 properties for sale will have to be marketed with information, now branded as the 'Home Report'.
The Home Report, commissioned by the seller, will provide prospective buyers with detailed information about the condition and value of the property before offers are made.
In this way buyers will not waste time and money on mortgage valuation reports on properties where their offers are unsuccessful
And first-time buyers, with nothing to sell, will particularly benefit from a Home Report provided by the seller.
The Home Report will contain three documents providing home buyers with more information than they have ever had. These are a single survey prepared by a chartered surveyor containing detailed information on property condition, accessibility information and a valuation.
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An energy report giving a home's energy efficiency rating and its environmental impact in terms of carbon dioxide emissions. It recommends ways to improve the building's energy efficiency and gives contact details for further advice and information about how to make a home more energy efficient and save fuel costs.
A property questionnaire to give prospective buyers useful information about the property, such as parking arrangements, factoring and property alterations.
Stewart Maxwell said: "Buying a house is for most people the largest investment they make in their lives and we believe that the buyer should have good, professional information about its condition and value before making an offer.
Julia Clarke, Principle Public Affairs Officer for consumers organisation, Which?, added: "This significant change to the buying and selling process in Scotland means that buyers and sellers will have better information than ever before about the condition and value of properties before offers are made."
Advice and involvement in developing the proposals has been obtained from a number of groups that have involved the Royal Institution of Chartered Surveyors, the Law Society of Scotland, the National Association of Estate Agents, the Scottish Consumer Council and the Council of Mortgage Lenders.
The Home Report Implementation Group which includes representatives from the Royal Institution of Chartered Surveyors, the Law Society of Scotland, the National Association of Estate Agents, the Scottish Consumer Council and the Council of Mortgage Lenders will work on an implementation plan for the Home Report.
The Group will be involved in be involved in disseminating information to firms involved in the house buying and selling process. The Scottish Government is working with the organisations on the Group to prepare for this programme of work during 2008.
(GK/JM)
