The Home Buying and Selling Group (HBSG) has arranged a test and learn project involving a group of lawyers and conveyancers to iron out specific barriers to the adoption and use of logbooks for property transactions. For logbooks to be effective, widespread adoption across the industry is essential, and the HBSG is also planning engagement with surveyors and estate agents. The Logbook Working Group is made up of companies that work together to identify ways in which we can help improve the home buying and selling process.
One major concern has bee to define what a logbook actually means and determining the agreed standard information that should be included in a logbook, before a property is listed for sale. The group reached a consensus on the need for consistent and standard information in all logbooks.
There was a general consensus that for a logbook to be effective, widespread adoption across the industry is essential. The Logbook Working Group believes that the Government should play a stronger role in creating the conditions to drive development and adoption. Part of this effort should involve making Government-held data more easily and readily available to support the property market.
Lawyers expressed concerns about receiving information and data, digitally, and questioned its provenance. On average, conveyancers find themselves waiting for information from approximately 19 different sources, including official data. Government departments should prioritise the timely availability of their data to the legal sector, which would significantly expedite the conveyancing process.
Thanks to Propertymark, Today’s Conveyancer, Inside Conveyancing, The Negotiator, Estate Agent Today and Premier Construction.