Conveyancer and denigration of the conveyancing process is de rigueur right now and has been for some time. However, perhaps the first step to improving things could (should?) come from those who usually have the first foot through the door, i.e. real estate agents.
The number of I’s that need to point to a T that have to be crossed by transportation agents is increasing almost daily (in my opinion to a practically unsustainable level), and all the help they can get and fewer interruptions they receive, would free up the time they need to complete the legal work and would be welcome.
My suggestions are, agents please:
Do not take referral fees from companies that you know are not particularly effective
Provide correct and complete information about the seller(s) and the property
Pass on relevant information about why the seller is moving
Provide details of any expected delay and the reason for it
Highlight any items in the property that could cause a delay, new windows, new heating system, recent loft extension or conversion, etc.
Provide a string sheet. Knowing which conveyancing companies are in the chain and where they are can be a real help
Make sure your co-workers have a basic understanding of the ownership transfer process and explain certain terms and phrases to them
Prepares the seller on the information and documents (guarantees, planning permission, security certificates, etc.) that his agent will need to send them to the buyer’s agent. Especially if the property is leased
Explain to the seller why instructing a transfer agent before an offer has been made and accepted can help expedite their sale, and encourage them to do so
Tell the seller why it is important to complete and return the TA6 (or another questionnaire)
Agree with the transfer agent on a time, place and method to provide updates on the progress of the transaction. Then forward these updates to other interested parties
Make sure you have done due diligence on proof/source of funds
Rob Hailstone is the founder of the Bold Group, a network of intermediaries
