A North Wales estate agency has welcomed UK Government proposals to make buying and selling a home easier.
The UK Government says the reforms should make the process of moving faster and less complicated and reduce unexpected and costly surprises which can lead to sales collapsing. It estimates the changes could cut around four weeks off the time it takes for a sale to go through.
A crucial part of the reforms will be the need to provide key information upfront in “sales packs” at the point of listing. Sellers and estate agents will have to provide key information including details about a home’s condition and leasehold costs.
The aim is to stop critical information emerging only after an offer has been accepted, when buyers and sellers have already spent time and money.
While the mandatory sales packs will not be implemented immediately, the UK Government says it will work with industry to identify information that can be provided voluntarily now such as Energy Performance Certificates, council tax bands and flood risk.
The Home Buying and Selling Reform Roadmap also includes a clear focus on professionalising property agents, with a non-statutory Code of Practice due to be published later this year, setting out minimum best practice standards. The UK Government will also consult in 2027 on mandatory qualifications for estate and letting agents.
There will also be a further move towards the digitalisation of the home buying and selling process with digital property logbooks and sales packs enabling information to be shared securely between professionals and accessed by buyers and sellers in real time, cutting out “back and forth” information sharing that can hold up sales.
David Adams, Managing Director of estate agency Cavendish, which has offices in Mold, Ruthin and Chester, welcomed the reforms, which will be phased in over the duration of this Parliament.
David said:
“The Government’s reform roadmap is a significant step forward for home buyers and sellers across England and Wales.
“At Cavendish, we have long believed that preparation before launch is the foundation of every successful sale. Upfront searches, property condition reports and legal readiness are not new ideas, they are simply best practice.
“Making them mandatory levels the playing field and protects sellers from the delays, fall-throughs and lost momentum that poor preparation so often causes.”
The launch of the Government’s roadmap coincides with a free event being held by Cavendish on Monday evening (June 22).
The free event, “SOLD. How to sell faster, achieve a higher price and reduce the risk of fall-throughs”, is being held at Storyhouse from 6.30pm to 8pm and will include commentary about the Government’s announcement.
SOLD will bring together leading property experts from across the city and will be hosted by Simon Leadbetter, a former CEO of Fine & Country.
Apart from David, those taking part include Lisa Aston, a conveyancer with Oliver & Co, financial adviser Wayne Musker of Financial Fortress, Chartered Surveyor Gavin Floyd of Dee Surveys and Emily Pickering, a Sales Progressor with Cavendish.
The event also coincides with the publication of ‘The Seller’s Playbook’, the follow-up to the best-selling ‘The Landlord’s Playbook’, both authored by David Adams.
