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1. A guide from Home Sale Network
Property Market
MAkINg tHE MoSt of toDAy’S
Home economics
With a population that is growing and ageing
and an increasing number of people choosing
to live by themselves, there is currently a great
demand for housing in the UK. This is due to
an increase in the number of households and
a drop in the rate at which new homes are
The value of bricks being built. At its peak in the late 1960s and
early 1970s over 400,000 houses were being
built per year. This rate dropped steadily, so
and mortar that by the 1990s the average annual rate was
190,000 houses per year. In 2001, there were
approximately 25 million dwellings in Britain,
Your home, as well as being somewhere to marketed by Home Sale Network
accommodating some 23.5 million households1
live, is probably your largest financial asset. members are listed on the Network’s
As with any investment, you want to ensure website, which is regularly viewed by people and yet government projections estimate
that you are able to get the best return in over 100 different countries. Instructing a that 223,000 new households will be forming
possible. According to figures from Home Network member to sell your home means annually up to 2026 alone2.
Sale Network’s quarterly Property Market that not only will it be seen by local buyers
Despite a fall in the average size of a
Reports, over the past five years the but it could potentially attract buyers from
average asking price of properties in the UK further afield. household, from 3.01 people in 1961 to 2.33
has increased by over £60,000. people in 2000, new houses are being built
Whilst your home is probably your largest
bigger. In 1971, 15 per cent of new houses had
Last summer’s credit crunch, ignited by the financial asset, it shouldn’t be viewed as
sub-prime mortgage crisis in the US, has simply an investment. For the vast majority
only one bedroom and only seven per cent
affected the world economy, making lenders of people a house is a home. Buying a new had more than four. In 2002-03 only six per
more cautious. However, even when the home is a big commitment, however unlike cent had one bedroom and 34 per cent had
market slows there are always people who stocks and shares or paying into a savings more than four3. The housing market is affected
need to buy and sell, because they are account, money spent on improving the by many factors, as well as by the laws of
relocating to a new job, upsizing because value of your home, whether a loft supply and demand, whereby certain types of
of a growing family, downsizing because conversion, an extension or adding an extra
property because of their relatively low supply
their children have left home, are first bathroom, can have a positive impact on
will remain in steady demand and vice versa.
time buyers or buyers looking for a your day to day life in the property as well
retirement home. as potentially adding value to your home.
The property market is changing and is Investing in property has also been
increasingly price sensitive, but a realistically traditionally viewed by leading
priced house, that reflects the current commentators as a safe direction for long
market, will generate interest. Properties term results.
www.home-sale.co.uk

2. How to pick the right
estate agent for your
property
A quick guide to
Choosing the right estate agent to sell your home Buying and selling a home is not an everyday
is vital. Do your research. Use property websites
and look at which agent is selling what in your occurrence for most people. If you are buying and
area. Home Sale Network is made up of over 700
independent estate agents, who are hand picked by selling for the first time or it’s been some time
Cartus, the premier provider of global relocation
services, after thorough checks. Each and every since you last bought and sold property here are
Home Sale Network member has been selected
because of their detailed knowledge of their local some tips, from Home Sale Network, to help.
market. Using this experience of the market where
you are, our local member can not only help you
set an accurate and realistic price for your property,
Selling your home A buyer’s first sight of your home may be
from the estate agent’s property details, so
but can advise on what buyers in your local market As soon as you know you are moving you it is important to choose an agent who will
are looking for and on ways to maximise the appeal should contact your mortgage lender and really take the time to present your home
of your home to potential buyers. notify them that you intend to redeem your in the best possible way. Many Network
existing mortgage. Find out if your lender members have received specialist training in
Check which membership body or trade charges a redemption fee and how much property photography and will ensure that
association the estate agent belongs to for example this will be. your home is presented in the best possible
the Royal Institution of Chartered Surveyors (RICS),
light. Your estate agent will also discuss the
National Association of Estate Agent (NAEA) or
preparation of your Home Information
the Ombudsman for Estate Agents (OEA). Find out
Pack with you.
if the agent has any other accreditations and what
awards they have won, visit their website. It is also a Once you have confirmed you are happy
good idea to ask your estate agent for references. with the sale particulars and that the
information is accurate, your estate agent
Questions to ask potential agents will arrange for your property to be
advertised in local and possibly national
• What evidence do you have to support your newspapers, on the internet and within
suggested price for my home? their offices. In the UK, Cartus, the premier
provider of global relocation services, uses
• Which websites will my property appear on?
Home Sale Network members to help buy
• Will you show potential buyers round my home? and sell homes for relocating families. So
potentially your home could be marketed
• Who will prepare the Home Information Pack
to a much greater audience by using a
for me?
Network member. Your estate agent will
• How often will you update me on progress? also contact potential buyers registered
• Once a sale is agreed, what will you do to ensure with them to discuss viewing your home.
that the chain remains strong and prevent it from Your estate agent will manage the viewings,
breaking? can accompany potential buyers on
viewings and collect feedback. There will
always be buyers who want to view outside
Cartus clients normal working hours, so be prepared to
Financial Services show these people round yourself – don’t
When you ask an estate agent to sell your
Chemicals/ lose them. A good estate agent will always
Petrochemicals property for you and they have agreed, you
give you honest feedback so be open to
Construction/ are entering into a legally binding contract,
Housing any suggestions they have as to how to
so it is important to make sure that you
Aerospace improve the saleability of your home.
are happy with the estate agent. Home Sale
Telecoms Network members have been selected When a buyer expresses an interest in your
as the best independent estate agent to home and makes an offer, your estate agent
Other
represent the Network in your local area. will check the buyer’s ability to proceed
Utilities
And, collectively Network members sell and their timescales for moving. Your estate
Pharmaceuticals Food/Beverage
Manufacturers
Computer/IT a property every two minutes. Make sure agent will contact you to inform you of the
Automotive Transportation/ Public Sector
that you have checked all the terms and offer and the potential purchaser’s situation.
Logistics
conditions of the contract and if you The estate agent will then negotiate the
Charity Manufacturers Retailers
are unsure, have sought independent best offer for you. The estate agent will
legal advice. work with all parties to ensure a successful
exchange and completion of contracts.

3. buying and selling Why choose
a Home Sale
Network
member?
• Home Sale Network is a
division of Cartus, the premier
provider of global relocation
services, moving over 130,000
families every year. In the UK
Cartus uses Network members
to buy and sell homes for these
relocating families.
• Home Sale Network is a national
network of over 700 selected
estate agents. All members
are independent businesses, hand
picked after thorough checks
Buying a home remembering that caveat emptor (buyer
beware) applies in law to all property
by Cartus identify them as the
Before you begin looking for a new home
best independent estate agent to
purchases in the UK.
you will need to decide how much you represent Home Sale Network in
can afford and are willing to spend. Most When it comes to making an offer, do some their area.
people will need a mortgage to pay for a research by looking at the asking price of
new property and it is essential to obtain similar properties in the area and speaking • Home Sale Network is highly
independent professional financial advice. to the vendor and estate agent so you can
selective and membership is based
make an informed judgement on how much
Think about why you are moving. Is it for to offer. Try and build up a rapport with the on certain criteria being met
work, a bigger property, downsizing, or to agent and ask them questions about the such as quality of service, local
be near a certain school? Once you have property – they have to answer factually
a clear idea of the area where you would
knowledge and professionalism
under recent legislation. Once you have
like to buy, start contacting the local estate resulting in membership
decided on your new home, you should
agents and viewing property websites. Your make an offer ‘subject to contract and approved on an invitation
local Home Sale Network member can satisfactory survey’ to the vendor’s basis only.
help you in your search to find a new home estate agent.
as well as offering guidance and information • As well as relocating families
on the local area. If you have had your offer accepted and
the property surveyed, your solicitor will moving with Cartus, Home Sale
As soon as you see a property that interests manage the conveyancing to allow you to Network helps people move
you, contact the selling estate agent and go ahead with the purchase. As part of
arrange a viewing. Viewing a property is as
from one part of the country
the conveyancing, your solicitor will review
much about physically seeing it as finding to another by referring buyers
the Home Information Pack contents, the
out more about the street and immediate contract sent from the vendor’s solicitor and sellers to other Network
area. You should always take time and care and check any queries about boundaries, members. Each month 1,200
on a viewing, looking at all aspects of the fixtures and fittings with the vendor’s
property and its location. Before making a
movers receive help this way.
solicitor. They will also request ‘searches’
decision, if it’s practical, view the property from the local authority. Once the searches
and its location at different times of the day
• The Network provides coverage
are back, and if all parties are happy to go
and on different days of the week. in England, Scotland and
ahead with the sale, you will need to be
Buyers in England and Wales should ask ready with your deposit, normally 10 per Wales, and there are Home
to review the Home Information Pack cent of the purchase price, so your solicitor Sale Network members in major
that has been prepared on the property. can exchange contracts on the property towns, cities and rural areas.
Ask for professional advice on its contents through the vendor’s solicitor.
www.home-sale.co.uk

4. Home Information Packs (HIPS)
Home Information Packs or HIPs for short, apply to residential properties there are likely to be differences between
HIPs for these sales and those provided for
that are advertised for sale in England and Wales. There is a fair amount of properties sold as completed dwellings. For
cross over between the information required for a HIP, and the information example, the searches for the property and
title information may cover a wider area if
gathered during the conveyancing process. The main difference however, is
the property has not yet been allocated an
that a HIP is the sellers’ responsibility rather than the buyers’. address and individual titles have not yet
been created.
But what exactly is a HIP? A HIP is • Evidence of title, this would usually
What happens if I change estate agents,
a dossier of information that is collected be copies of the basic Land Registry
do I need to get another HIP?
together and made available as part of registers and title plan.
the sale process. Every estate agent in If you have paid for the HIP and it is not
• Local property and drainage searches, or
England and Wales who market homes tied in to the estate agent’s contract then
a record of the fact that they have been
with HIPs need to be registered with the you can have your home on the market
ordered. Local property searches are
independent arbitration service run by with one agent and then switch to another
used to check various details that may
the Ombudsman for Estate Agents (OEA). one and take the HIP with you. However
affect the property.
Equally, all HIPs providers must subscribe you should check the contract with your
• A copy of the lease, if the property is agent before changing the agent that you
to the Home Information Pack Code and
leasehold. are marketing your property with.
be registered with the Property Code
Compliance Board. HIPs FAQs Are there any properties that don’t need
What’s in a HIP? Do I need to have a HIP before I put my a HIP?
• An index, or contents list of what’s property on the market? There are a few instances when a HIP is
included in the HIP. Currently, until the end of the year, homes not required, but they will not affect the
can be marketed as soon as the HIP and majority of sellers.
• An Energy Performance Certificate
or EPC, which is similar to the energy its contents have been ordered, it’s not Properties that are exempt from requiring
rating that many domestic appliances, necessary to wait until the pack is delivered a HIP are5:
such as washing machines and freezers in order to get your home on the market.
• properties that have been cleared for
have. This rates the property on a scale If I buy a brand new build property, will I demolition or been declared unfit for
from A-G, with band A properties being get a HIP? human habitation
the most energy efficient homes. The
Newly built homes are affected by HIPs • properties that are being sold with a
EPC is a calculation of the estimated
but there are differences in the way the sitting tenant
energy costs for running the property,
scheme operates for these properties, • when the property being sold is mixed
as well as its potential energy efficiency
particularly in the way that energy use, for example it is a shop with a flat
after the suggested energy efficiency
performance information is presented. or flats above it
measures, detailed in the EPC, have been
New homes marketed ‘off-plan’ before
put in place, for example adding extra • the property that has more than five
they are physically complete will not have a
insulation in the loft. hectares of agricultural or horticultural
full Energy Performance Certificate (EPC)
• A Sale Statement, which gives the basic land
as these can only produced following
details of the property, like the name a physical inspection of a completed • if the seller is marketing a portfolio
and address of owner, address of the building. In these cases, the HIP will contain of over five properties in a single
property being sold and tenure, whether a Predicted Energy Assessment (PEA). transaction.
it is freehold or leasehold. Where new homes are marketed ‘off plan’
Sources:
1
http://www.statistics.gov.uk/census2001/profiles/commentaries/housing.asp
2
Building a Greener Future: policy statement. www.communities.gov.uk/documents/planningandbuilding/pdf/building-greener
3
Office of National Statistics, ‘Social Trends’, No. 34 2004 Edition. http://www.statistics.gov.uk/downloads/theme_social/So-
cial_Trends34/Social_Trends34.pdf
4
http://www.homeinformationpacks.gov.uk/industry/170_New_builds_and_developments.html
Home Sale Network
5
Property Price Advice. www.propertypriceadvice.co.uk Frankland Road, Blagrove,
Legal disclaimer: The information in this guide is provided in good faith based on data currently available as at May 2008 Swindon, Wiltshire SN5 8RS
and is therefore subject to change. Home Sale Network (a trading division of Cartus Ltd) accepts no liability for the data Email: homesale@cartus.com
or information included within.
www.home-sale.co.uk