CCR2 Post-Covid19
Taking the post-Covid opportunity
A new pledge is asking all part of the property-purchase industry to step up to the plate
Beth Rudolf Director of delivery, the Conveyancing Association
Last month, we urged all our member firms to endorse a series of home buying and selling pledges for property stakeholders, designed to make the progress of transactions as quick and smooth as
possible.The pledges have been put together by the Home Buying & Selling Group (HBSG) and all those who sign-up, will be encouraged to follow-them and urge other stakeholders to do the same.
Streamline By doing this, the HBSG believes a more streamlined home purchase-sale process can be delivered which will cut down on the average time taken to complete a transaction – currently 20 weeks – and also give purchasers the best chance of taking
advantage of the government’s stamp duty holiday which runs out at the end of March 2021.
Pledges The pledges – which only apply in England and Wales – outline the measures each stakeholder can take to give the transaction the best chance of completing, covering off the seller, buyer, the selling agent, the seller’s property lawyer, the buyer’s property lawyer, the buyer’s mortgage adviser, and the buyer’s surveyor or valuer. As a starting point, the HBSG is urging
both the seller and the buyer to take preliminary action to reduce the time it takes to sell or purchase:
For conveyancers, the pledges urge the seller’s representative (where suitable) to discuss the advantages and costs of preparing as much infor- mation as possible for the buyer at the earliest stage, and to check title information and provide advice about any issues that could cause delays and suggest solution
l Sellers should instruct their property lawyer on the same day as they market their property and fill in the property information forms provided to them as soon as possible. l Buyers should make sure they have received a ‘mortgage offer in principle’ or, if paying with cash, make sure they have evidence of the funding available to them.
Supportive We are fully supportive of sellers and buyers taking these measures and want member firms to spread the message of the pledges in order to help achieve a successful sale or purchase in the quickest time possible. We have also urged member firms to follow the pledges that pertain to them. Specifically, for conveyancers, the pledges urge the seller’s representative (where suitable)
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www.CCRMagazine.com October 2020
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