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The government is reaching out to the property industry to ask for feedback on how the process of buying a property can be simplified and streamlined to make it less stressful and complex for all involved.
Communities Secretary Sajid Javid, who announced the government's intentions, said: "We want to ensure that we address issues across the whole sector, from ways to tackle gazumping and reduce time wasting to increase commitment to a sale".
Javid cited 'mistrust between parties' as being one of the biggest issues when buying a property, and went on to say: "Although one million homes are bought and sold in England each year, around a quarter of sales fall through and hundreds of millions of pounds are wasted, we want to increase confidence in the housing chain".
The government has carried out research into the process of buying and selling property, and this revealed that delays caused stress in 69% of vendors and 62% of buyers.
If changes can be implemented to make the buying and selling process easier, this could be a positive development for property investors and vendors alike.
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