Another stealth tax???

[Mailman]

I agree that Gazumping laws are needed. Apparently you can drop out of a sale right up until you exchange contracts.

This is correct and wrong on so many levels!

Lets hope the Government passes the second "sensible" law since it has come to power shortly. The first law was the one they passed to get rid of the goon protesting outside parliament!

Mailman

[The Lone Gunman]

The idea of a seller having to prove that their house is worth what they're selling it for is a good thing. Buyers have far more security in getting the ridiculous mortgage they need to buy the place if it’s already been surveyed. It of course won’t stop gazzumping unless we adopt the Scottish system but it doesn’t look likely at the moment.

The problem is that the ‘just drove past and had a quick look’ survey will only be based on recent prices of homes sold in that postcode and will have no real reflection on the condition of the home, so the more conscientious buyer will still get their own survey anyway.


Just my £0.02 though.

Why should house sellers be any different to other vendors?
Buyers will still need independant surveys, you dont think the lenders are going to accept the vendors survey do you?
It wont matter if the survey is as detailed as fook, it will still have a cop out of "but we might have missed something" or "obviously we can't garauntee".

The house is worth what the buyer will pay and as with all other purchases "caveat emptor".