RICS launches guides to plug advice gap
Research from the industry trade body showed almost a third of first-time buyers admitted they did not fully understand the purchase process once they had chosen a property.
Peter Bolton King, RICS global residential director, said: “It’s no secret that buyer numbers are on the up and more and more sales are going through as the market begins to find its feet again.
“With this in mind it’s a big concern that there isn’t enough advice out there to help people buying and selling their homes especially when it comes to first-time buyers who haven’t gone through the tricky and stressful process of purchasing their first home.”
And the survey showed over a quarter of first-time buyers did not know the difference between a market valuation, an agent’s appraisal and a survey which RICS said could create big problems for both buyers and seller in some cases leading to property transactions falling through.
The free guides cover buying, selling, home surveys, renting a property, letting a property, property auctions and boundary disputes.
Rob Killeen, business manager of Capital Fortune, said they already supply a detailed guide to their clients called Buying Property – a Simple Guide, but extra information was always helpful.
He said: “Any additional resources provided to first-time buyers in what after all can be a difficult quest can only be welcomed.”