With home purchases taking an average of 163 days—just over five months—to complete, and an estimated 74,000 buyers set to miss the 31st March stamp duty deadline, Amy Reynolds, head of sales at Antony Roberts estate agency in Richmond, is calling for the industry to introduce an ‘MOT’ system for new property listings to streamline the sales process.
Amy Reynolds said: “The current system is fraught with unnecessary delays. For example – we get a buyer, and the seller’s solicitor sends whatever they’ve got and waits for the buyer’s side to ask questions. The buyer’s solicitor comes back and says ‘we’re missing a Fensa certificate for two windows from 2023. Do you have one?’ And then it goes back and forth on every point. Gas safety certificate, roof, buildings insurance. If the seller’s solicitor found the gaps at the beginning, before they got a buyer, sales would be significantly sped up. Where possible, we encourage sellers to get ‘sale’ ready and those that do have a much better experience.”
The proposed MOT system would introduce a standardised checklist of key information for vendors, ensuring all relevant documentation is prepared before the property goes on the market.
Reynolds, who is putting her own home on the market this spring, added: “In preparation for my own sale, I got my house files out over Christmas. I realised I was missing a building certificate for my extension, so emailed the council straight away. I’ve had my fireplace serviced – I know that’s going to get asked. I’ve got my Fensa certificates, copied my building insurance, my council tax, I’m getting my gas service done, getting the chimney swept. I know I have an indemnity policy from when I bought it. I’ve got all of this together, so that when I find a buyer, I can exchange quickly.”
Historically, Home Information Packs (Hips) were introduced to address similar issues but were ultimately scrapped due to concerns over cost and complexity.
Reynolds commented: “The problem with Hips is that they deterred casual sellers from speculatively putting their house on the market to see if it got any interest; the packs took a long time to assemble and cost up to £400. My suggested ‘MOT’ system would not be mandatory; sellers could download the form online for free if they wanted to plan ahead. Speculators could still test their house on the market without an MOT, and just wait a little longer if they got a buyer. If even half the market used an MOT and got their documents together up front, it would break the present logjam.”
Reynolds’ proposal aims to remove unnecessary delays from the homebuying process, ensuring that when buyers and sellers are ready to move forward, administrative hurdles do not stand in the way of a smooth transaction.
