UK: MINISTERS AIM TO SPEED UP HOME BUYING

Article Abstract:

Britain is lagging behind most of Europe in the time it takes to sell a home; it takes on average 12 weeks to conclude a sale whereas most deals in countries such as Sweden, Denmark and Holland are concluded in as little as four weeks. This has prompted government ministers to proceed with a compulsory "seller's pack" in a bid to end gazumping. The pack includes planning permissions, a structural survey, legal titles, and local searches and has the backing of the National Association of Estate Agents. Such documents are currently paid for by the buyer, who runs the risk of losing money if they are outbid for a property. The introduction of the pack is likely to become law after the next general election, as the government campaigns for a better deal for consumers.

Mortgage Bankers and Brokers, Brief Article, House buying, Home buying

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Wellcome Trust hits local hostility in the battle of Hinxton Hall

Article Abstract:

The Wellcome Trust aims to set up a business park in Cambridgeshire, England, next to a genetic research station. The local government argues that transportation and housing facilities are inadequate to support the additional 1,000 employees expected to result from the project. The authorities have offered a compromise plan of a park half the side with the possibility of a later expansion. The Wellcome Trust has backed the Human Genome Project in Britain, and business start-ups are expected as a result of the project. Transportation is a key issue in a similar planning battle involving Vodaphone in Berkshire.

Land Subdivision and Land Development, Biochemistry, Research and Development in the Physical, Engineering, and Life Sciences, Services development, Office & Commercial Developers, Planning, Real estate developers, Biotechnology industry, Biotechnology industries, Investments, Business parks, Wellcome Trust, Commercial developers

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UK: HOUSE SALES DELAYED BY DOCUMENTATION

Article Abstract:

The introduction of the Sellers Information Pack, which contains documents related to the condition of the property, is slowing down house sales rather than speeding them up, according to estate agents. The scheme is currently on trial in the Bristol area of the UK. However, some building societies have refused to accept the valuations contained in the pack and are still carrying out their own, and some buyers are also being advised to carry out their own survey. The packs take around three weeks to prepare, delaying the moment when the house can go on sale, and cost around GB[pound] 700.

Real Estate Agents, Brokers, Managers, Real estate agents and managers, Real estate agents, Real estate management

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