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Simplify House Purchase in England and Wales.

Comment 4th July 2010

Change from the existing system  to   the  process that is used in France.

Why does this matter?

Under  existing system   despite  making a deal  there is no guarantee  that the sale  will be completed  until exchange of contracts.Your word means nothing  which shouldn't be the case.

If you agree to purchase a property  then a deposit  should be paid  which is nonrefundable  .This will immediately  eliminate  time wasters  who  cannot  complete  the purchase   and offers the seller some compensation if  in the unlikely event that the seller does pull out.

In France  the deposit is arround 10% I believe  though  it could be less .

Both buyers and sellers  end up wasting   money  on failed attempts  in survey fees and  conveyancing  costs.

House buying and selling under the existing system   can be very stressful  and much of this could be eliminated  by changing the system.

Changing the system will save us  home owners  most needed money.

Change  would help the property market   and increase confidence in the process. 

The existing system offers NO SECURITY  TO BUYER OR SELLER  AND  NEEDS TO BE CHANGED.

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