Conveyancing is stressful – and I’m not just talking about the poor customer experience. From a turnaround time of around eight weeks back in the ’70s when I first started in conveyancing it is now longer than it ever has been – typically around 18 to 20 weeks.
There are many reasons for this and I will address these in some detail in subsequent articles.
For the moment let us look at a fundamental structural default in conveyancing – the legal process only tends to start once a sale has been agreed and consequently weeks and weeks are wasted when the legal process could have been working to address any issues in the title itself.
The UK residential property market has long been plagued by this core inefficiency, leading to a frantic scramble for documentation that often results in delays, frustration and transaction collapse
Forward-thinking law firms are shifting toward sales-ready packs
To combat this, forward-thinking law firms are shifting toward sales-ready packs.
By preparing the legal “heavy lifting” before a property even hits the market, solicitors are transforming the moving experience for sellers and buyers alike.
So what is a sales-ready pack?
A sales-ready pack is a comprehensive suite of legal documents compiled by a solicitor at the point of listing.
It typically includes:
- Proof of Identity and Anti-Money Laundering (AML) checks.
- Property Title Deeds and Office Copy Entries.
- Completed Protocol Forms (TA6 Property Information Form and TA10 Fittings and Contents Form).
- Leasehold Information (if applicable), including management packs.
- Supporting Documentation (FENSA certificates, boiler service records, planning permissions).
SPEED AND CERTAINTY
The primary benefit of a sales-ready pack is the dramatic reduction in transaction times. According to industry data from the Home Moving Alliance and various pilot schemes by the Law Society, “upfront information” can shave weeks off the period between “Offer Accepted” and “Exchange of Contracts.”
When a buyer receives a full legal pack on day one, the “discovery phase” – where hidden issues often emerge – is bypassed.
This transparency builds immediate trust, allowing the buyer’s solicitor to raise enquiries instantly rather than waiting weeks for the seller to find a dusty folder of paperwork.
REDUCING ABORTIVE TRANSACTIONS
Perhaps the most significant advantage is the reduction in abortive sales (often referred to as “fall-throughs”).
In the UK, approximately 25-30% of property transactions fail before completion, often costing sellers thousands in wasted fees.
Research conducted by Moverly and insights from the Digital Property Market Steering Group (DPMSG) suggest that transactions using upfront information packs have a significantly higher success rate.
The logic is simple: if a buyer is aware of a short lease or a restrictive covenant before making an offer, they are unlikely to pull out later for that same reason. By removing the “nasty surprises” that typically emerge mid-way through the process, solicitors provide a layer of protection against the emotional and financial toll of a collapsed chain.
BENEFITS FOR THE SELLER
- Serious Buyer Attraction: A property marketed as “Sales-Ready” signals to the market that the seller is serious and organised.
- Reduced Stress: Most of the administrative burden is handled during the relatively quiet period before a buyer is found, rather than during the high-pressure period after an offer is accepted.
- Better Price Retention: When delays occur, buyers often get “cold feet” or attempt to “gazunder” (lower their offer). A swift, professional process minimises the window for these negotiations.
THE PROFESSIONAL EDGE
For solicitors, providing these packs isn’t just about speed; it’s about modernising the profession.
Utilising digital “Material Information” standards ensures compliance with National Trading Standards (NTSELAT) requirements, which now mandate that more information must be disclosed at the point of marketing.
REACTIVE TO PROACTIVE
The shift toward sales-ready packs represents a move from a reactive to a proactive legal service.
By investing in legal preparation at the start of the journey, sellers can ensure a smoother, faster and more secure transition to their next home. Which seller would not want that?
