Eddie Goldsmith

Is conveyancing reform FINALLY going to happen?

The Conveyancing Association has published a White Paper that calls for a radical shake-up of the sales process in England and Wales after revealing that most estate agents are dissatisfied with its failings. Its White Paper is the result of extensive research and consultation among estate agents, lenders, solicitors, local and national government as well as surveyors, and suggests significant changes to almost every part of the conveyancing process as well as examination of the US and Scottish conveyancing systems, which the association considers to be better than ours in many ways. This includes suggested changes to aspects of the moving process that often frustrate agents, buyers and vendors alike including the non-binding nature of offers, the difficulties of chain management, mortgage finance, money laundering, local authority data, leaseholds, property information and contract completion. But the most sweeping of the Conveyancing Association reforms is to make offers a legal commitment tempered by a five-day cooling off period either through a reservation agreement or conditional contract. Other key suggestions in the document include: 1. Drawing up a central database of authenticated solicitors and agents to prevent fraud and money laundering, and also establish a secure portal to enable conveyancers, estate agents…