News In Focus
18 November 2008
Society wants an early review of home reports
The Law Society of Scotland is to push for an early review of home reports to ensure that they are working for homeowners in Scotland after their 1 December launch.
The Society has backed proposals for property buyers to have more and better information about their prospective purchases, but has voiced strong concerns about the inclusion of a compulsory single survey in the home report packs that sellers will require to produce for properties put on the market after 1 December.
Richard Henderson, President of the Society, said that many members felt that the inclusion of the single survey in the pack did not address the issue of multiple surveys, as it had a limited shelf life and might impede some home owners from selling their property as the upfront cost would be borne by the seller.
At a special general meeting of the Society in September, more than 2,000 solicitors called for the home reports to be postponed, in light of the property market slowdown in addition to long held concerns about the viability of the single survey in the new packs.
Mr Henderson commented: "The Society has worked with the Government, Royal Institute of Chartered Surveyors and consumer organisations on home reports and we want to maintain an open and constructive dialogue to ensure that home reports work in the public's best interest. If there are areas that need to be reviewed or amended, we will press for change at the earliest stage possible."
He added: "The Society hopes that the Government will agree to an early review to ensure that members of the public are protected and that the biggest change there has been in the property market is made to work as well as possible for those they were planned to assist - the people who are buying and selling houses - particularly during the current economic climate."