As the director of the professional body which regulates chartered surveyors in Scotland, I was concerned to read your article on the Home Report ("Home Reports are strangling housing market say experts", The Herald, July 1).
Both the National Association of Estate Agents and the Council of Mortgage Lenders were represented on the Scottish Government's Home Report Implementation Group, so it is somewhat surprising to read factual inaccuracies attributed to both organisations.
The Home Report has no shelf life and there is no requirement for any part of the Home Report to be updated every 12 weeks. Lenders have taken it upon themselves not to accept information from a Home Report after 12 weeks, but replacement reports are not normally provided until a purchaser has been identified.
The valuation element of the Home Report is carried out by chartered surveyors, who are regulated professionals. When valuing a property they are required to follow a mandatory set of valuation standards.
All Royal Institution of Chartered Surveyors (RICS) members who undertake valuations on behalf of a third party must be a member of the RICS Valuation Registration Scheme and must also carry professional indemnity insurance to protect their clients. In addition, third party redress is available through the Ombudsman Property Service, which is free to enter and the decision is binding on the chartered surveyor.
The process is robust. It is regulated and monitored. Valuation surveying is a complex and highly skilled professional matter. Thus, to suggest that a valuation given by a chartered surveyor is merely an expression of that individual's opinion is inaccurate.
The article suggests that highlighting defects within a property is putting potential buyers off viewing, yet no consideration is given to the whole ethos behind the Home Report, which is to improve the quality of Scotland's housing stock. It is not and was never conceived as being a tool to regulate the housing market.
Undertaking a Home Report prior to marketing allows the seller to make any necessary repairs to improve their property's market appeal. It also gives the purchasers essential information on the condition of the property, enabling them to plan for the future maintenance of their investment. The Home Report alerts sellers and buyers to condition issues that they may wish to address. The net result is the physical improvement of Scotland's housing stock.
Under the previous system 95% of purchasers often relied solely upon a valuation report without commissioning any form of condition survey. The result was that purchasers were often unaware of property defects. The Home Report minimises the risk of significant outlays for purchasers.
RICS, as a body governed by royal charter to act in the public interest, supports the Home Report. We view the provision of free, upfront, professional information to prospective purchasers as a positive result. It has also been supported and welcomed by consumer organisations. We also support the positive impact the report has had on the cost of buying and selling by reducing multiple surveys and improving the condition of Scotland's housing.
Sarah Speirs,
Director, RICS Scotland,
9 Manor Place, Edinburgh.
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