A Monmouth based estate agency has launched an innovative service to help reduce the number of failed property transactions, a long-standing problem in the UK housing market for both buyers and sellers.
go2move, which opened its second branch in Monmouth in October have launched the new service as an option to serious buyers and sellers, to address all the key issues with transaction failures and ensure the completion of a property sale by securing early commitment at verbal offer.
Both parties commit to a pre-exchange agreement and bond which is legally binding and held until the sale is complete. Should either party subsequently withdraw from the sale, the bond is forfeited, except under certain circumstances. The cost of the bond to buyer and seller is based on a percentage of the value of the property being sold.
go2move will follow the transaction and oversee the process from exchange to completion also, communicating with all involved and allowing all parties to resolve any issues quickly, to keep the sale moving forwards.
Damian, owner of go2move said: “Alarmingly, around one third of all property sales - equating to about 200,000 transactions a year fall through. This is mainly because the entire sales process is based purely on non-binding verbal offers that allow buyers or sellers to back out of the deal right up to the point of exchange. When a buyer or seller pull out at the last minute it costs time and money to the party who have been let down, our service can eliminate that stress and worry in the sales process, providing an invaluable service”.
The service is available to anyone selling or buying a property, even if it’s not with go2move, there is usually a small fee for the service, but it’s currently free to registered users. To find out more about the scheme or to register call 01600 228075 or visit www.go2move.co.uk.
Residential homes in the UK account for more than a quarter of all energy used, making your home more energy efficient could save you on average £250 a year off your fuel bills.
Claire Young from go2move believes that the introduction of Energy Performance Certificates, as a legal requirement for all properties that are available for sale or to let has had a positive change on homeowners attitudes towards energy efficiency.
“Vendors and Landlords realise how efficient or not there property is once they have had this report conducted and then they start to consider how they can save money on their energy, by making their existing or new home more efficient”.
Top five energy saving tips
A married couple (or civil partners) who are living together can transfer a property from the sole ownership of the higher earner to the sole ownership of the lower earner, so the property income is taxed at a lower rate. There is no capital gains tax to pay on such a transfer, but some Stamp Duty Land Tax may be due if the property is mortgaged.
Don't forget to exclude the deposits you receive from new tenants when you tot up your property income for your tax return.
go2move are a low cost estate agent and letting agent.