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TODAY'S OTHER NEWS

Revealed - worrying number of buyers don't know what conveyancers do

Almost two fifths of property buyers don't know what conveyancers and solicitors do, according to new research.

My Home Move Conveyancing's survey of 1,500 purchasers, carried out earlier this month, looked into which elements of buying a property consumers find the most confusing.

Despite the market surge caused by the stamp duty holiday, over a quarter of survey respondents said they aren't sure what stamp duty is. 

Meanwhile, 21% of those taking part said they felt confused about what to look for in a new home.

Looking at buyers' priorities, the study found that transport links remain important for 40% of Londoners, while gardens top the list for 50% of Leeds buyers.

Across the board, buyers are looking for more storage space, a double garage and open fires.

  • Rob Hailstone

    Only two fifths? What level of knowledge are we talking here? They don’t know they carry out the legal work required to buy and/or sell property? They don’t know the basics, exchange or completion? They don’t know the basic procedure, checking title, carrying out searches, raising enquiries etc? They don’t know the real detail, AML, ID, title check, search requesting, information gathering, planning etc checking, acting for lender, exchanging, completing, SDLT payment, registering?

    Many have tried to explain the process by way of written guides, flowcharts, or even short videos but to no real avail.

    Anyone actually cracked getting the message across?

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    Cause hold ups and charge lots of money for nothing seems to be the commonly held view

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    Not often that I join such "conversations" but , Simon, not at all helpful to make such cheap remarks. Our view and one, I am sure , echoed by many highly respected agents, is that there are a great number of solicitors doing a great job - despite currently working under immense pressure. Many greedy agents have helped drive the "race to the bottom" with solicitors fees by creaming-off often exorbitant introduction commissions (often hidden , if not undisclosed, from their clients). If more agents took time to help their vendor clients and buyers by explaining the process, stressing the importance of and taking a lead role in effective proactive sales progression management, the problem would be massively reduced. An added benefit would be putting the spotlight on those solicitors and agents who fail to do the job properly. Good solicitors and conveyancers are "worth their weight in gold"

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    Roger, as someone who used to be a conveyancer, I fully appreciate what conveyancers do, and there's a lot more to deal with today than there was 35 years ago. I applaud any attempt to educate the public and encourage respect and understanding for all professionals in the property industry. I was merely relaying something I hear all too often in my own dealings with the housebuying public.

     
  • Matt Faizey

    The public will pay handsomely for, and endeavour to seek out purveyors of excellent service.

    They'll also willingly pay for services and sectors widely perceived to be of value or worth.

    If an industry or profession feels it's undervalued it might need to look inwards rather than outwards for the cause.

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