What is a ‘refreshed’ Home Report?

Victorian propertyIn today’s market, prices can be volatile and, generally, are moving downwards.

If the valuation report you are looking at is more than a few months old then it might well be worthwhile to have it refreshed. Effectively, this means that the surveyor is sent back the report and asked to update it. The most important feature of that updating is, of course, the price.

There is a cost to this and it can be a matter of negotiation as to who has it refreshed.

There is no rule but, if the report is more than 6 months old, the seller would normally be expected to pay for this.

As a buyer in a market with few buyers, your bargaining strength might be even stronger and if the seller thinks you are serious about purchasing, may agree to refresh the report even if it is younger than that.

The Scottish Government’s website on home report is to be found here

Bruce de WertBruce de Wert

I am a solicitor the over 25 years experience and can be consulted at Georgesons for purchase and sale of property anywhere in Scotland. 01955 606060

My estate agency can be found at Georgesons property

Powered by WordPress