To: Sajid Javid
Adopt the Australian model for buying and selling
Abandon the current model of purchasing property whereby the buyer is responsible for arranging and paying for surveys and other work to ensure that the property for sale is of good value and sound. Instead, this responsibility should be transferred to the vendor, who will be required to establish the good state of the property he or she is selling by paying for the services of and provide proof of this to potential buyers by using the services of approved and regulated surveyors.
Why is this important?
As mentioned in the ongoing consultation on the property-buying process (https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/653789/Home_buying_and_selling.pdf), hundreds of millions of pounds are wasted every year due to failed transactions in relation to purchasing property. But this consultation does not seek to address the fundamental problem underlying much of this waste: that potential buyers are being forced to prove aspects of the quality and value of a property that could have been proven - once and for all - by the vendor, yet, in the case of properties with issues, are unearthing issues that had been unearthed in surveys by previous potential vendors. The buyer has to prove to him or herself that the property is of sufficient quality! This should be the vendor’s responsibility to prove.
This system only benefits those who charge fees to supply the services related to these surveys, i.e. conveyancers and surveyors. It takes place at the expense of buyers. It has to change and be aligned with the Australian system.
This system only benefits those who charge fees to supply the services related to these surveys, i.e. conveyancers and surveyors. It takes place at the expense of buyers. It has to change and be aligned with the Australian system.
