Gransnet forums


to want an overhaul of procedures for buying.selling homes?

(31 Posts)
nanaej Tue 13-Aug-13 19:15:10

My DD1 has just had the sale /purchase aborted. They put their home on the market in February and were due to move next week.

Unfortunately their vendor was a cash purchaser and so apparently delayed the survey on the property he was buying until a fortnight ago when everyone else in the chain was ready to exchange. He says there is too much work needed on the house he was buying so he is not selling any more.

DD has obviously incurred costs as well as the emotional highs and lows .. to say nothing of keeping a house clean and tidy for viewings with a 5 and 1 year old.

Why can't we set up a system where the seller has to prepare survey and searches BEFORE a house is marketed? Surveys and searches would be done by properly bonded and licensed surveyors/lawyers. This would reduce wrangling over prices and mean that once an offer is accepted the deal is under contract... similar to Scotland.

It is my suspicion that the chap selling thinks he can get more for his house in light of recent news that property prices are going up and has simply withdrawn at this late date so he can re-market in a month or two.

JessM Wed 14-Aug-13 16:11:50

Home Information Pack debacle was a tragedy as it would have speeded things up. RICS lobbied like crazy against it and it was pulled after much effort had gone into making it happen. Scottish system is much better - in England and Wales a high percentage fall through.

nanaej Wed 14-Aug-13 16:49:00

I am sure there is a better way that could to be developed protect both buyer and seller, maintain work for surveyors and lawyers and estate agents and speed the whole process up and reduce the number of time-wasters!
I am sure that would help the market too!

FlicketyB Thu 15-Aug-13 20:19:15

Well, the Homebuyers Pack did nothing to expedite DD's flat sale and we have friends in Scotland who spent a small fortune on surveys and legal work prior to putting in sealed bids for properties and then not bidding high enough.

Every system has its drawbacks. House buying is the biggest purchase most of us will ever make and, however frustrating, I think it is right that there should be opportunities to drop out until the last minute. So very very much is at stake.

JessM Fri 16-Aug-13 19:46:08

not sure what you mean by homebuyers pack flicketyb. Not HIP as this was cancelled by government.

FlicketyB Fri 16-Aug-13 20:17:33

DD had to get all legal documents together etc etc. It wasn't the full HIP but the minimised one the last government introduced and this government cancelled.

At the end of the day DD's sale was delayed because even though you can give a solicitor every bit of information they need on day 1, you cannot make them read it. If Estate Agents, Mortgage lenders and solicitors are lazy or slipshod, and too many of them are, then house purchases will continue to take ages.

At the time the minimised HIPS were introduced I did a quick paper and pen assessment of every house purchase/sale we had been involved in, also children, close family, and friends, about 40 transactions in all and there was only one occasion when the HIP, minimal or full would have done anything to reduce the long gap between offer and exchange.

Getting documents, searches, surveys done is the easy bit. Almost all the delays were related to process, mortgage forms being lost or delayed, solicitors leaving everything until the last minute, buyers gazumping, sellers being unwilling to agree dates for completion or going on holiday at critical moments. In one case a buyer in the chain died. HIPS cannot deal with these.