Fast Exchange Conveyancing

Thursday 16th June 2011

Fast Exchangeis a Fixed Cost No-Sale No-Fee Proactive Conveyancing solution with No disbursements and No abortive costs.

Fees are charged only when the transaction completes. Vendor or buyer is not required to pay anything up front nor commit to paying anything at all, until completion. No fees or disbursements will be charged if the sale/purchase is aborted at any time.

Desmond McCarthy Business Development manager comes from a HIP background “the concept follows the original HIP aim which was to improve the conveyancing process. Fast Exchange aims to do exactly that in the simplest possible way”.

It is based on the simplicity of the seller instructing solicitors when the property is listed for sale, something agents ideally want but hardly ever happens.

One set of solicitors will act for the vendor and prepare all documents in readiness for when a buyer is found and another set of solicitors working with the Fast Exchange system can act for the buyer.

Without any cost to the seller, the time consuming work taken to gather information and prepare documentation including replies to the usual pre contract enquiries is undertaken in readiness for a buyer being found.  The buyer will have this information right from the start. The seller will be in a position to exchange contracts as soon as a buyer is found, subject to buyer valuation, surveys and finance arrangements. The time consuming process between solicitors will in effect be almost eliminated.

Desmond McCarthy comments that the idea of instructing solicitors as soon as a property is offered for sale is not new; however, while the concept is not new the offering and execution is new.

It is no secret that the current conveyancing process is inherently weak and can lead to many an aborted sale. The more time a transaction takes to exchange the higher likelihood of it aborting. Even with successful sales, anxiety and uncertainty levels for all concerned can be high. Fast Exchange delivers reduced transaction times, less likelihood of sales falling through, better service provision, quicker fee payment and more efficient use of agent time. 

McCarthy confirms that Fast Exchange is a Solicitor based platform and not a remote on line conveyancing system. Clients will have full access to their solicitor at any time, although with Fast Exchange, that should be very much reduced.

Solicitors with Fast Exchange have developed protocols to expedite the process. One firm will act for the seller and, although not obligatory, a second firm will act for the buyer. Both firms will act independently to assure their clients have full and proper representation and advice at all times.

There is also provision for introductory fees to agents.

www.fastexchange.info