A lot of column inches have been taken up recently with the announcement by the government of its intention to 'modernise' the conveyancing process to bring down current delays of almost five months.
The government claims that: 'One of the key reasons the buying and selling process can be long and frustrating is a lack of digitalisation and join up in the sector, which is why the government is opening up key property information, ensuring this data can be shared between trusted professionals more easily, and driving forward plans for digital identity services to slash transaction times.'
The government says that is will digitise information needed for property transactions, such as building control and highways information and will 'drive forward' plans for digital identity services.
But what does this mean for the conveyancing client today? Government announcements and initiatives often feel a long way from the life of people wanting to sell and buy homes today.
There is a lot that sellers and buyers can do to help their conveyancing transactions – and the main one is to get organised! Serious sellers and buyers should employ their conveyancing lawyer from the outset – before a house goes on the market and before an offer to purchase is made. In this way, the conveyancing lawyer can go through a lot of the necessary due diligence relating to client identification and source of funds on purchases early in the process. This means that sellers and buyers will be ready to proceed immediately once the estate agent puts the deal together.
Sellers can also get relevant paperwork together, such as guarantees, warranties and copies of planning permissions. Buyers can start to sort their finances and gather information about their money, such as bank statements.
But one of the most important things that sellers and buyers should do is to choose their conveyancing lawyer carefully – possibly based on recommendation from friends or family. It might be a good idea to choose a local firm – one that the client can visit if there is a problem or something needs to be done quickly.
Digitisation of the process will undoubtedly be helpful – but there is a lot that sellers and buyers can do to help themselves, without wating for the government.
To discuss this or any other property matter, contact us.