The new government leaflet on house buying

Did you know there’s a new government leaflet just published (on 9th May 2019) on house buying? It’s called:

‘How to buy, A guide for people looking to buy a home in England and Wales’

There’s also another leaflet on house selling.

Here are my comments on a first reading of the house buying Leaflet:

The over-riding problem about estate agents not positively advising buyers is misunderstood and greatly understated.

It says:

  • The estate agent will help guide you through the buying process and work with other parties to help the sale progress.  But remember please – their primary role is to help the seller sell their property.

Another shortcoming needing more emphasis is that surveyors are less able than previously to give good advice on the detailed condition of a property one is considering purchasing or indeed give a reliable assessment of its current value.

Sadly, most surveyors are associated with estate agency in one form or another in order to earn their livings these days!  These surveyors cannot therefore be independent of estate agency which is primarily involved in selling houses on behalf of sellers at the highest prices able to be achieved, irrespective of the true or current value of the property.  It is the latter value that buyers so urgently and importantly need, in order to make pragmatic and wise buying decisions at the time of their purchasing but they are usually unable to find or know this information.

The problems the current-day buyers of today face therefore include uncertainty in the absence of being able to obtain reliable and sufficiently independent surveyor’s reports on the condition and/or the current value of properties they are considering purchasing.

The leaflet merely advises buyers to look for more information on various types of home surveys which may be found on the Money Advice Service website.

USEFUL LINKS:

https://www.moneyadviceservice.org.uk/en

https://www.moneyadviceservice.org.uk/en/categories/buying-a-home

https://www.moneyadviceservice.org.uk/en/articles/estimate-your-overall-buying-and-moving-costs

https://www.moneyadviceservice.org.uk/en/articles/a-guide-to-homebuyer-surveys-and-costs

A pdf version of the government leaflet:

‘How to buy, A guide for people looking to buy a home in England and Wales’

This is viewable at:

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/799883/How_to_buy_guide.pdf

A pdf version of the other government leaflet:

‘How to sell, A guide for people looking to sell a home in England and Wales’

This is viewable at:

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/799884/How_to_sell_guide.pdf

For more information on resolving this issue and to improve the workings of the housing markets across England and Wales please read The Hendry Solution:

https://www.improvethehousingmarket.co.uk/2013/12/05/estate-agents/want-functional-stable-housing-market/

Peter Hendry, Consultant in Housing Valuation

About Peter Hendry

The Hendry Solution is his new open market technique for equalising buy and sell prices within all markets. It was originally conceived to correct the anomalies plaguing the UK housing marketplace. The time to take corrective action is right now, although such action is also somewhat overdue. I would welcome sharing your thoughts on aspects of these new proposals using this blog site.

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