The Law Society is to begin Beta-testing its revolutionary new TA6 Part 1 transaction form with Reapit which will prompt agents to publish more information about a property at the point of listing.
Assuming industry reaction to the proposed form is positive, this will mean large tracts of information that was only collated about a property post-offer will now be available to buyers as they peruse property portals or agent websites.
A soft launch of the new TA6 Part 1 form will take place at the Law Society’s National Property Law Conference on 4 October 2021.
The new form includes information on compliance with building and planning applications, the supply of services, flooding, common parts shared with neighbours and information relating to Japanese knotweed and septic tanks.
TA6 Part 1 will be digital and free to use but it will only be available through the Law Society’s network of licensed providers.
Hard copies may be available upon request, depending on feedback from the beta test.
“Before the TA6 Part 1 goes live, we’re working with InfoTrack, Perfect Portal and Reapit to beta test the new form so that we can ensure that it meets its objectives and supports the government’s goal of improving the home-buying experience for all,” the Law Society says.
“We’ve been working with the Home Selling and Buying Group and our Conveyancing and Land Law Committee to make more information available to buyers at the point of listing.
“Using technology, we plan to change how data is collected and used for property transactions. We believe that collecting information in this way can improve the system for all stakeholders and revolutionise the process.”
Matthew Goddard, Partnerships Director, Reapit: “We are proud to be working with the Law Society, Perfect Portal and InfoTrack in the TA6 digitisation project. The world is moving towards an increasingly digitalised space where consumers will expect a simpler, faster experience – and will demand as such from their agencies.”