Leading conveyancing search figures Nick Dyoss has told The Negotiator that it’s time for basic property info to be revealed much earlier in the sales process.
His comments follow intense industry debate about how to speed up the conveyancing process as sales transaction times have lengthened during the post-lockdown boom seen in recent months.
Dyoss, who is director of the National Land Information Service says that there is no ‘silver bullet’ to solve this problem, but that bringing forward essential or basic property search information such as local authority, environmental and water/property searches to the start of the property marketing process would in many cases help shorten transaction times and prevent fall-throughs.
“It would also help many people filter out properties that they are unlikely to buy and prevent offers falling through early on in the process,” he says.
“I think a lot of people think making this sort of search information available earlier on will solve everything but the conveyancing and estate agency industries need to employ a more holistic approach to push multiple buttons.”
We put Dyoss’s point to NAEA Propertymark, whose head of policy Mark Hayward agreed that the current market is seeing huge amounts of pressure and, its members report, lengthening completion times.
“We have been working with the Government and the House Buying and Selling Group to speed up the purchasing process, but in any market the more information that can be provided upfront will assist in reducing the time needed for transactions.
“Propertymark have created the Sales Protocol Toolkit which offers huge potential to speed up transactions.
“Supporting vendors to complete the Property Information Questionnaire (PIQ) accurately can avoid inaccuracies and eliminate some queries from the conveyancing process. More information can also safeguard against sale fall throughs and the implications for sellers and buyers in terms of excessive costs.”