Conveyancers to pilot upfront information for buyers and sellers

The Law Society is to pilot upfront conveyancers’ information for home buyers and sellers.

This will involve the TA6 form which contains crucial information relating to the sale, covering compliance with building and planning applications, the supply of services, flooding, and common parts shared with neighbours as well as information relating to Japanese Knotweed and septic tanks.

Until now the information was only collated post-offer, after a solicitor has been instructed.

However the Law Society has identified what it calls “key early marketing questions” that can be completed upfront in a transaction in what will be known as the TA6 Part 1.

Stephanie Boyce, the president of the Law Society of England and Wales, says:

“Technological change in the conveyancing market has accelerated as a result of the Covid-19 pandemic.”

“This project will continue that technological advancement and innovation, helping consumers, estate agents and solicitors to seamlessly collect key marketing information using the familiar, but wholly digitised TA6 workflow.

“The answers to the questions in the new TA6 Part 1 will help to inform a buyer’s decision to purchase and will support industry-wide initiatives to begin the systemic collection of up-front information about a property.

“We look forward to making the TA6 Part 1 available to our network of forms’ licensees and solicitors following the conclusion of the pilot and are hopeful it can assist in reducing the time it takes to achieve completion from the point of instruction, as well as supporting earlier instruction of a solicitor.”

The Law Society says it will provide more updates on the pilot in the near future.

Kindly shared by Estate Agent Today

Main photo courtesy of Pixabay