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UK Home Sales Pack

Home Seller's Information Pack - soon everyone will need one.

Like it or not, the Government has now got the bit between its teeth and decided to enter into the housing market by introducing a level of standardisation. It falls well short of total regulation and some would rightly argue that it tinkers with only unimportant aspects of the transaction. It is however a start.

There are bound to be further developments and the probability of other changes following in the field of mortgage handling is almost inevitable. The Government have become involved, because the market itself was never likely to be in a position or able to dictate a total change of culture or a break with the traditional practices built on the principle of caveat emptor- buyer beware.

We now have a consumerist order where goods and services are available to all and it is therefore necessary to ensure that there are basic standards of quality and fitness for purpose. Whether the consumers are equipped without the benefit of independent advice to make the choices most appropriate to their personal needs is a separate issue.

If a property is going to be offered for sale in the future it must now be held up to inspection, and all defects - or at least some of them will need to be disclosed in advance.

In many areas of the country this will make a radical difference over time, to the quality of property that is available for sale and the quantity of properties coming to the market may be affected.

In higher priced areas, it may impact in other ways, with the reduction of the number of sellers who put properties on the market speculatively and then withdraw them; also with buyers who dip into the market and then withdraw. Quite rightly, the new regulations seize on the shortening of timescale between offering on a property and exchange of binding contracts. This is critical to ridding the market of gazumping

Conveyancing and Property Law Advice

• Conveyancing & Legal Services: whether you are buying, selling or remortgaging a property more
• Making a Will & Inheritance Tax: has long assumed to be a rich man’s problem ..... no longer the case more
• Property Survey: for the buyer of a property the maxim applied is BUYER BEWARE more
• Financial Services & Mortgage Loans: finding your way through the mortgage and finance system is tricky more