A bid for fair play
Article Abstract:
The UK Department of the Environment, Transport and the Regions has issued a consultative document, 'The Key to Easier Home Buying and Selling.' The document does not state house sales through auctions are excluded. Yet there is no need to change the procedures for house sales by auction. Some 92% of houses put up for auction, in 1998, were sold. House sales by auction avoid gazumping and the procedures ensure all the participants are really interested in buying or selling. House sales by auction take two-four weeks to complete compared to an average of 12 weeks by other routes.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1999
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A pack that lies in wait
Article Abstract:
New house buying legislation will be introduced as law in the United Kingdom in an attempt to speed up the process, prevent gazumping taking place and reduce overall costs of moving house. One of the key elements of the new law will be the requirement of house sellers to provide a pre-prepared selling pack which contains information on usually obtained by the buyer after an initial offer has been put in and accepted. This should help to speed up the process of buying and prevent gazumping.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 2000
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Laws to clean dirty cash may not wash
Article Abstract:
The European Union's 1991 Money Laundering Directive may be extended to property. This would oblige auctioneers to play a more active part preventing money laundering by keeping records of all purchasers and setting up anti-laundering systems. Theoretically, all potential bidders would have to be vetted.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 2001
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