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Delays with searches are a constant concern to estate agents. At times we have known them take up to nine weeks to be done delaying completions and leading to increased numbers of sales falling through.
Different councils often perform differently with regards to turning around searches. In the area at the moment two to three weeks is the norm, however, West Dorset District Council is taking up to 45 working days (the grapevine informs me).
Always take your solicitors and estate agents advice when applying for searches. Delaying can cause pressure at the end of a sale.
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Many find this an odd question to be asked by an estate agent, however, for over a decade now we have had an obligation to identify our clients (usually the seller). This procedure is part of our obligation to comply with various anti money laundering regulations
However, from the end of June estate agents may also be obliged to see identification from their buyers once an offer has been accepted through them.
So if you agree to buy a house be prepared to provide ID to the estate agent. Don’t be alarmed or surprised by this. It is purely the estate agent making sure they are compliant with their obligations in law.
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Employee of the month
Well done to June Tomlinson in Aldreds Letting Department who is Employee of the Month for May.
Nominated by Susie...and on Junes birthday too!
June retires at the end of June after over 25 years of service. Everyone at Aldreds wish June a very happy and long retirement!
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The UK House Price Index showed a 1.6% rise in March after a fall the month before. The Index also showed a annual 5.6% rise.
The news comes as the London Housing Market continues to slow with annual growth at 4.2%. However, the housing market in other parts of the country has remained robust.
The average UK house price during April was £220,094
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Landlord possessions have fallen for the eighth quarter in a row according to the Ministry of Justice.
In the first quarter landlords issued 35,188 possession claims down 8% on the same time last year. Warrants of possession also dropped over the same period.
These figures follow a general downward trend since mid 2014.
The Ministry also says that a huge proportion of claims are inside the M25 with rates far lower away from the capital.