Wednesday
In difficult times like these, it is important for conveyancers to talk with each other.
We have all got so used to emailing and we all struggle with the deluge of emails – it is like someone standing on the other side of your desk throwing letters and documents at you continuously throughout the day.
There is no point in asking for additional special conditions to go into a contract if the full circumstances of a chain are not known. What is the point in saying the contract between Mrs. Smith and Mr. Jones will be rescinded if either of them has to self-isolate if the contract between Mr Jones and Mr. Harris does not.
Conveyancers have to talk with each other, get the full details of a chain and even go so far as to ask if there are any parties who are over 70, could be self isolating , or are pregnant. Vital information that can be obtained prior to exchange of contracts. It is not prying – it is for the benefit of everyone in that chain.
I know that it is hard to get information about the chain at the best of times, but now it really would help. We all know that chains are movable beasts – cash buyers become buyers with a house to remortgage, the buyer of a property at the foot of the chain changes as a sale collapses and no-one thinks to tell the conveyancer.
Be open and tell your counterpart about your chain – perhaps this is the time when how chains are dealt with will change – to quote Dickens
‘It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity…’
One Response
Chain transparency was an integral part of the Land Registry’s electronic conveyancing initiative during the early years of the century
A beta “traffic light” dash-board was set up and trialled in (if I remember correctly) Fareham
The initiative did not go ahead but LR might have information useful to others interested in promoting a digital version of your idea. I am emailing them to see if they can find anything