Conveyance: Timing the Transaction
In order to achieve a timely conveyance, practitioners must move efficiently and effectively through the process. Below is a brief snapshot of best practices that can help create a successful outcome.
1. Flexibility. There is no standard for scheduling the transaction given the variables involved for both buyer and seller. Keep the parties moving forward without causing undue pressure.
2. Order. Though obligations specific to the transaction may be clear, the sequence for individuals will vary depending on the circumstances.
3. Transparency. Efficiency is made possible when the parties understand the process and value. Make sure to explain carefully the steps required so your client can work with you.
4. Additional payments. Be sure to advise your client of any ancillary payments,
including for indemnity insurance or deposits.
5. Preferred practice. Use of this Protocol is considered preferred practice. It is only fully effective if both the seller’s solicitor and the buyer’s solicitor adopt it. However, if one party does not agree to adopt it, that does not prevent the use of the procedures by the other party.
