RLBA welcomes new digitally-focused conveyancing questionnaire

The Government-supported industry body the HBSG have launched a revised version of their Buying and Selling Property Information (BASPI) conveyancing questionnaire.

This is intended to be a new, all-encompassing information format for estate agents and conveyancers to issue to people selling residential property prior to listing.

The BASPI was put together to ensure that property information is standardised across all providers so it can be exchanged digitally, and also to ensure it includes the new ‘Material Facts’ requirements soon to be enforced by National Trading Standards.

The newly-revised BASPI has made a significant leap forward in recognising the increasingly digital nature of property ownership and the digitisation of property sales. For the first time on any conveyancing questionnaire, the BASPI includes questions on digital services and systems built into a property (so called ‘smart home’ systems). This information will ensure buyers are able to take control of their new homes on the day they take ownership.

The new BASPI also recognises that homeowners are increasingly keeping digital records of key information about the running of their homes. For the first time the BASPI asks whether a property has an RLBA recognised digital Property Logbook. The vendor is asked to give details of the Logbook provider and directs them a list of RLBA members to confirm.

RLBA Chair Nigel Walley says:

“This is a hugely significant step as it positions Logbooks at the heart of the digitisation of property sales.  Most importantly, it acknowledges that Property Logbooks are an asset of the property that need to be recognised when properties are sold.”

Simon Lumb, Director of Logbook company NDD, is running the RLBA project to define how Property Logbooks are transferred to new owners.

Simon said:

“We are now working with the HBSG to structure this as a reserved legal activity that can be managed by conveyancers and we are keen that it is eventually built into the CQS.”

Kindly shared by The Residential Logbook Association (RLBA)

Main photo courtesy of Pixabay