Sellers willing to pay £1,000 for upfront informatio...

Almost two-thirds of home sellers who have sold a home within the past year experienced delays when doing so, research reveals.

A survey of UK home sellers, commissioned by upfront information provider Moverly, found 63% encountered delays.

The poll of more than 2,000 sellers found 39% felt that the process of having to provide information about their property at various stages along the transaction timeline was a contributing factor to the delay of their sale, while 35% also felt that having to regularly deal with their estate agent to do so was a “laborious process.”

Another 42% felt the same when it came to dealing with their conveyancer.

Additionally, one in five saw their transaction collapse due to these delays and a tenth experienced a fall-through on more than one occasion.

The research found 39% would have happily paid to compile a home information pack (HIP) if it meant a quicker transaction, while 53% would have paid for a HIP if it meant avoiding a fall through.

Around half said they would be prepared to pay up to £100 for a comprehensive HIP, with 30% happy to pay up to £250 and some as much as £1,000.

Moverly co-founder Ed Molyneux said: “The property selling process has evolved considerably in recent years and technology has helped to streamline the process in many ways.

“However, it’s fair to say that it remains a tad archaic in many other respects and, as a result, many sellers are subject to delays in their transaction timeline at best and their sale collapsing at worst.

“Unfortunately, it looks as though sellers are set to endure an even greater degree of market turbulence over the coming months as interest rates continue to climb and the market tries to find its feet.

“The good news is that you can take a proactive approach to selling and a home information pack is one tool that allows you to do this, increasing the speed of your sale and reducing your chance of being hit by a fall through.”