The current system of buying and selling a house in the UK needs to change
PUBLISHED: 16:57 27 April 2018 | UPDATED: 17:05 27 April 2018
Sheron Harley, of the Property Shop, says there needs to be a change to the property buying and selling system in this country.
There definitely should be a change to the system in this country regarding property commitment when purchasing.
It is so annoying for an estate agent when a chain falls through due to no fault of either the agent or their clients.
To have to ring up a vendor and tell them their sale is no longer proceeding, particularly when it has been running for a while, and they have found their perfect property to purchase, is very upsetting.
In Scotland, once an offer has been accepted on a property, and a contract is drawn up, purchasers are committed, in the same way as once you exchange on a property in England.
This stops the time wasters and also “the grass is always greener” purchasers who continue to view property, even once they have had an offer accepted.
We should all lobby our MPs to try to get the system changed; it would be so much less stressful for all concerned if once an agreement had been made and an offer accepted, everyone was committed towards the same goal.
One fall through in a chain can sometimes affect 10 or more individual purchases, which causes heartache all round.
If the system could be changed to resemble the Scottish system, at least the stress of moving house would have one less worry involved.
On the subject of reducing stress, why not consider the merits of speaking to an independent mortgage adviser?
Such an adviser can highlight your best options, based on your circumstances, and enhance your chance of a successful move by getting your mortgage agreed in principle at an early stage.
This agreement will provide you with confidence that the mortgage you require can be obtained and avoid any unnecessary frustrations later in the house buying process.
The good news is property is continuing to come onto the market at a really good rate and sales are increasing as we move towards warmer weather through spring.
In the Acle and Broads area we are finding older, character properties are being snapped up quicker than newer properties, but this may be due to the fact there are far less available.
Price remains to be key in achieving a sale in a reasonable period.
We have had an amazing April, with record sales, and there seems every sign of this buoyant phase continuing for the foreseeable future.
If you would like any help in marketing your property or just want to pop in for a chat, we would be very happy to see you.
You can call The Property Shop on 01493 752100. www.property-shop.co.uk
The Property Shop has sponsored this column.