The UK government has launched a consultation that aims to revolutionise the buying and selling of homes by making the process quicker and more efficient.
Around a third of property transactions in England and Wales collapse before the exchange of contracts stage. This discourages some people from moving or accepting a job that requires a house move.
The government wants to make contracts legally binding earlier in the house buying process. To speed up the buying process, the government suggests that property could be made sale-ready before being listed for sale, with condition assessments and local searches completed before the house is put on the housing market.
More details should be available for sellers to access, such as leasehold terms and service charges.
New digital property logbooks could include the history of the property, including warranties and planning permissions.
The government is also proposing that estate agents follow a new code of practice and receive compulsory training.
Some estate agents are resisting some of these proposals. If sellers have extra expenses preparing the property for sale, they argue that fewer people will “test the market”, and drawing attention to potential problems risks putting buyers off. Supporters of the government’s suggestions say that it will result in fewer property transactions failing.
If you are buying a property, you will need the help of a reliable removal service. For house removals in the Liverpool area, talk to us at Merseyside Movers & Storers as soon as you have a completion date.
