In addition, sellers also have a single survey, which a buyer can present to a lender for mortgage approval. Provided that the survey firm is on the mortgage lender’s approved list, there are often no barriers.
The result of this preparation on the part of the seller is a much quicker sales process. On average, Scottish homes sell 30 per cent more quickly than their counterparts in England and Wales.
In Scotland, it took an average of 12.57 weeks for a sale to complete, compared to 16.11 weeks in England and Wales, analysis of Rightmove data found.
Property Solvers carried out the research which came up with these figures. Co-founder of the firm Ruban Selvanayagam commented: “Although Home Information Packs had limited success in England and Wales, there is a strong argument that sellers should be presenting their homes in a more transparent way.”
One of the issues that the Scottish system helps to address is that of ‘down valuation’, where a mortgage lender values a property below what a buyer has offered. This often leads to buyers pulling out of a sale or trying to renegotiate the final purchase price.
If you are planning to sell your home, it’s worth bearing in mind that there are certain things you are obliged to disclose. This includes any disputes you’ve had with your neighbours.
If you’re looking for property for sale in Retford, contact us today.