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What are these buyer packs? Are they stuffed with a 20k deposit or something as the 'experts' seem to think it will lead to a mini boom again end of 2006 -

http://icwales.icnetwork.co.uk/0100news/02...-name_page.html

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What are these buyer packs? Are they stuffed with a 20k deposit or something as the 'experts' seem to think it will lead to a mini boom again end of 2006 -

http://icwales.icnetwork.co.uk/0100news/02...-name_page.html

That would be HIP's Home Information Packs but they would tend to impact negatively i would imagine :blink:

EDITED

However, some experts believed the introduction of new buyers' packs in 2007 could lead to a mini-boom of properties going on the market towards the end of 2006.

Ahh its been deliberatly obfusticated, a mini boom in properties going onto the market.. i.e properties getting off loaded before HIPs are intoduced in 07.

Edited by theChuz

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What are these buyer packs? Are they stuffed with a 20k deposit or something as the 'experts' seem to think it will lead to a mini boom again end of 2006 -

http://icwales.icnetwork.co.uk/0100news/02...-name_page.html

I think these could work to buyers disadvantage. Its the survey that worries me. Does the government really believe it is in a purchasers interest to rely on the sellers survey?

Nowadays most buyers rely on the lenders mortgage valuation. Its not ideal but the valuer is working for the lender and has the lenders interests in mind. So far as a survey is concerned this should not conflict with the buyers interests.

When we have buyers packs the lenders will be "encouraged" by the govenment to accept the sellers survey and not commissin their own survey. There are iffy surveyors about if you want to find one.

And I dont think it will speed sales up much either. Most delays are caused by synchronising sales and purchases in chains or getting mortgage offers through and sellers packs wont help much with this.

It will make the process of selling more expensive but I cant see what else it will acheive.

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I think these could work to buyers disadvantage. Its the survey that worries me. Does the government really believe it is in a purchasers interest to rely on the sellers survey?

Nowadays most buyers rely on the lenders mortgage valuation. Its not ideal but the valuer is working for the lender and has the lenders interests in mind. So far as a survey is concerned this should not conflict with the buyers interests.

When we have buyers packs the lenders will be "encouraged" by the govenment to accept the sellers survey and not commissin their own survey. There are iffy surveyors about if you want to find one.

And I dont think it will speed sales up much either. Most delays are caused by synchronising sales and purchases in chains or getting mortgage offers through and sellers packs wont help much with this.

It will make the process of selling more expensive but I cant see what else it will acheive.

I see your point, however currently it costs the vendor not a bean to market their property. I`d hazard a guess that if it cost the vendor: time, effort and money to get their 5hit together they`d think twice re. fishing for a buyer. Less wasted time alround gets my vote big time. ;)

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I see your point, however currently it costs the vendor not a bean to market their property. I`d hazard a guess that if it cost the vendor: time, effort and money to get their 5hit together they`d think twice re. fishing for a buyer. Less wasted time alround gets my vote big time. ;)

So the evil it adresses is people putting their house on the market to "test the waters" - i agree with that. I would agree that it would stop that sort of messing about. Im sure there would be easier ways of doing this.

But when it comes to the time between agreement subject to contract and completion i wouldnt expect much saving.

I can just see a lot of buyers not getting their own surveys, because they think they dont need to - if the lender doesnt need a survey why should they - and without the safeguard of a building society survey they could get stung.

You can always get a surveyor who will fail to notice the rot on the windows, the missing purlins on the roof conversion , the possibility of subsidence caused by tree roots. localised flooding risk will get missed if it isnt on the Environment Agency list yet, then theres history of mining in the area, the odd loose slate, breached damp course. Site history - maybe its built on an old tip or petrol station All these can be conveniently missed without it being obvious the surveyor is negligent.

Having been stung once I will be getting my own survey if I ever buy post 2007 but I dont think most buyers would.

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I've got mixed feelings abouth them myself.

We have a bungalow opposite us that goes on the market every year with every estate agent in town. On at the start of spring off in Autumn. They could have sold it many times in the last 5 years. Nice town, Nice part of town, lovely neighbours :rolleyes: etc.

God know how much they have cost unsuspecting purchasors over the years.

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The survey in the HIP is far more than the the look over you get with a mortgage valuation survey, which quite frankly is not worth the paper it is written on, the new home condition report is based on the RICS home buyers survey, which only a few people get done.

Coupled with the fact that most mortgage valuation surveys are carried out by valuation surveys and have been the biggest cause of litigation because most of them don't know their **** from there elbow when it comes to surveying.

the home inspector will be independent from the seller and the buyer, it is not within his or her interests to overlook problems, why because quite simply when the buy finds out he has every right to sue the home inspector, and the details have to be kept for 9 years so there is plenty of time

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So the evil it adresses is people putting their house on the market to "test the waters" - i agree with that. I would agree that it would stop that sort of messing about. Im sure there would be easier ways of doing this.

But when it comes to the time between agreement subject to contract and completion i wouldnt expect much saving.

I can just see a lot of buyers not getting their own surveys, because they think they dont need to - if the lender doesnt need a survey why should they - and without the safeguard of a building society survey they could get stung.

You can always get a surveyor who will fail to notice the rot on the windows, the missing purlins on the roof conversion , the possibility of subsidence caused by tree roots. localised flooding risk will get missed if it isnt on the Environment Agency list yet, then theres history of mining in the area, the odd loose slate, breached damp course. Site history - maybe its built on an old tip or petrol station All these can be conveniently missed without it being obvious the surveyor is negligent.

Having been stung once I will be getting my own survey if I ever buy post 2007 but I dont think most buyers would.

It's all down to the lenders. Most people WILL get buyers surveys, because the lenders will insist.

Had the govt had the foresight to include the lenders in the decisions, this wouldn't be the case.

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However, some experts believed the introduction of new buyers' packs in 2007 could lead to a mini-boom of properties going on the market towards the end of 2006.

This is going to be interesting as prices will be pushed down with everybody trying to beat the deadline - at worst they'll be plenty of choice! :rolleyes:

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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