The short answer
A Home Report normally has three parts: a Single Survey and valuation, a Property Questionnaire, and an Energy Report (the EPC section). If a Scottish property is publicly for sale, a buyer can ask the seller, solicitor or selling agent for its Home Report. The seller or selling agent should provide it within nine days of a request.
The report is useful evidence, not a guarantee. The Single Survey is based on a visual inspection and may identify repairs or recommend further investigation; it is not an opening-up, specialist or full building survey. The valuation is an opinion of worth, not a guaranteed sale price or a promise that a lender will advance a particular amount.
What each part tells you
| Part | What it covers | What it does not promise |
|---|---|---|
| Single Survey and valuation | A chartered surveyor’s visual inspection, condition/access information, repair observations and an opinion of value. Condition ratings identify the surveyor’s view of urgency. | It does not reveal every concealed defect, price every repair or replace an investigation by an appropriate specialist. |
| Property Questionnaire | Seller-provided information across categories such as council tax, past damage, alterations/extensions, specialist works or guarantees and notices affecting the home. | It is not an independent survey. Ask the solicitor about title, planning, building standards, guarantees and any answer that needs checking. |
| Energy Report | Energy Performance Certificate information about energy efficiency, estimated energy use/costs and carbon emissions, plus efficiency advice. | An EPC is not a condition survey, a promise of actual bills or a guarantee that recommendations are suitable or affordable. |
Condition ratings: use them as prompts, not price tags
The Single Survey’s condition ratings are a screening tool. A rating indicating no immediate action does not certify that an element will never need work; a rating indicating repair or urgent attention does not itself supply a contractor’s scope or price. Treat any report recommendation as a reason to ask questions, obtain estimates or commission an appropriate inspection. Do not convert a rating into an invented repair allowance.
Valuation, asking price and mortgage funding
An asking price, “offers over” figure and Home Report valuation are different things. The valuation is the surveyor’s opinion; an asking or minimum figure is a marketing term; the eventual price is agreed through the offer and Scottish missives process. None by itself guarantees what the property will sell for.
Your lender makes its own lending decision. It may accept the Home Report valuation, request its own valuation or use another figure under its policy. Ask the lender or adviser what valuation it has accepted and what loan-to-value (LTV) it is applying. Cash buyers should not assume the valuation determines the price: they still need to understand condition, title and affordability, and an offer above valuation uses more of their own funds.
Independently computed valuation-gap scenarios
These are labelled arithmetic illustrations, not forecasts or lending promises. Assume a lender will lend 90% LTV against the lower accepted valuation, and that the buyer has no other fees or deposit requirements. Confirm the actual product and policy.
| Scenario | Offer/price | Accepted valuation | 90% maximum loan on accepted valuation | Cash needed for price (offer less loan) | Valuation gap above 10% of accepted valuation |
|---|---|---|---|---|---|
| No gap | £250,000 | £250,000 | £225,000 | £25,000 | £0 |
| £10,000 gap | £260,000 | £250,000 | £225,000 | £35,000 | £10,000 |
| £20,000 gap | £230,000 | £210,000 | £189,000 | £41,000 | £20,000 |
Checks: £250,000 × 90% = £225,000; £260,000 − £225,000 = £35,000; £230,000 × 90% = £189,000 and £230,000 − £189,000 = £41,000. The “additional cash” is the valuation gap only; solicitor, tax, lender, insurance, repair and moving costs are extra. A lender may accept a different LTV, decline the case or assess affordability separately. A cash-funded buyer has no mortgage gap, but must fund the full agreed price and costs.
Offers, notes of interest and closing dates
If you are happy with the Home Report, tell your solicitor. The solicitor can formally note your interest with the seller. A note of interest is not an offer, does not secure the property and does not create a contract. If several people note interest, the seller may set a closing date, a deadline for written offers. A closing date is not a promise that the highest offer wins, and it does not itself conclude missives.
Your solicitor should explain the offer’s terms, conditions and timing. In Scotland, an offer and a qualified acceptance can be followed by letters called missives. A concluding missive forms the binding contract; until the contract is concluded, do not describe the purchase as legally complete. Conveyancing and settlement follow the agreed contract, and ownership transfers at settlement—not merely when an offer is submitted or a note of interest is made.
Do not make a bid solely because of an agent’s suggestion about competition. Confirm your funding, maximum price, valuation-gap reserve and conditions with your adviser and solicitor. A closing date can create urgency, but it cannot make an unsupported valuation or survey finding reliable.
Limits, exemptions and extra surveys
There are exceptions to the normal Home Report requirement. Official Scottish guidance lists, among others, homes marketed since before 1 December 2008; new homes sold off-plan or to a first occupier; newly converted homes not yet used in their converted state; dual-use residential/non-residential homes; and certain seasonal holiday homes. If a property does not need a Home Report, an EPC may still be required. A seller can also refuse a report in limited circumstances described in the official guidance, such as not believing a person is seriously interested or able to buy. Ask the selling agent and solicitor why a report is absent; do not assume that “new build” or “holiday home” covers every case.
The Home Report is not a warranty or insurance policy. Consider an additional survey or specialist report where the Single Survey recommends it or there are concerns about structure, damp, roof, stonework, timber, drainage, alterations, asbestos, electrical or heating systems, access or common repairs. An additional inspection costs money and does not transfer responsibility for deciding whether to buy. Obtain written scope and quotes, and ask the solicitor about title, permissions, guarantees, burdens, factoring and shared repairs.
Buyer, solicitor and adviser checklist
Buyer
- Request the complete, current Home Report and note its date; read all three parts, not only the valuation.
- List every rating, caveat, recommended further inspection and unanswered question.
- Compare the valuation with the marketing language without treating either as a guaranteed price.
- Ask the lender/adviser what valuation it accepts, the LTV basis and how much cash remains after a gap.
- Keep separate reserves for tax, legal costs, insurance, repairs, specialist reports and moving.
- Decide a maximum offer and do not confuse a note of interest or closing date with a binding deal.
Solicitor
- Check the Home Report, title/deeds, burdens, planning/building standards, guarantees, notices and any factoring/common-repair information.
- Explain the offer, missives, conditions, closing-date process, binding point and settlement implications.
- Ask for clarification or evidence where the Property Questionnaire conflicts with the survey or raises a legal issue.
- Advise on any absent report, exemption, title risk or specialist investigation before commitment.
Mortgage adviser/lender
- Confirm the accepted valuation, LTV, product criteria, affordability and whether the lender needs a fresh or separate valuation.
- Model the offer price and any valuation gap; do not assume the lender will fund an amount above its accepted basis.
- Confirm cash needed for deposit, gap and transaction costs, and keep lending advice separate from legal or surveying advice.