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Seller&#39s packs widely welcomed in survey

Housebuyers are welcoming the proposed introduction of seller&#39s packs to help tackle problems such as gazumping, according to a survey by Yorkshire Bank.

Its quarterly housebuyers&#39 survey of 2,500 adults carried out in December reveals that 85 per cent feel the introduction of seller&#39s packs, planned for 2006, will go some way to ease the transaction process.

Only 15 per cent of respondents opposed the introduction of the packs.

One in four sellers said they would be happy to provide a survey of their property at outset if it could speed up the sale and only one in 10 buyers said they would not trust a survey provided by the seller to be accurate and true.

Although Yorkshire Bank says quicker completions of sales could ease the temptation for sellers to look for higher offers if the market is rising or buyers to reduce their offers if prices are falling, it warns that the seller&#39s packs are not a panacea for all problems.

The survey shows that 25 per cent of people are considering buying a property in the next year. However, 20 per cent say they would not want to borrow the maximum amount from a lender in case they end up owing more than their property is worth.

Chief operating officer Geoff Greer says: “Whatever the possible merits or shortcomings of seller&#39s packs may be, it seems from our survey that the housebuying public welcome their intentions.”


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