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• Marketing of Residential Properties Regulations: Regulatory Impact Assessment

Housing

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Summary

This assessment is concerned with the impact of proposed new legislation to require sellers of residential property to provide a standard pack of information before marketing a property for sale, and to make this "seller's pack", including a home condition survey report, available to prospective buyers. It reflects the response to the public consultation document The key to easier home buying and selling, which contained a draft Regulatory Impact Assessment, published in December 1998.

The proposal to impose a statutory duty to provide a seller's pack would affect most of the professional groups involved in the home buying and selling process. The proposed new legal duty (and associated enforcement regime) will affect estate agents, solicitors acting as estate agents, house builders and any other person or company marketing the sale or transfer of residential property in England and Wales. There will be a consequential affect on the surveying profession, solicitors and licensed conveyancers, mortgage lenders, local authorities and water companies.

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• Annex A: options, costs and benefits to business and affect on consumers
  PDF, 17 kb , 2 pages
• Marketing of Residential Properties Regulations: Regulatory Impact Assessment
  RTF, 63 kb
• Marketing of Residential Properties Regulations: Regulatory Impact Assessment
  PDF, 149 kb , 20 pages

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