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Law Firm Warns of Potential Bankruptcy for Estate Agents Due to Delayed Conveyancing Processes
If a local estate agents practice folds, it’s a blow for not only the individual business but also for the overall health of the housing market let alone the economy at large, says lawyer The conveyancing process is a critical part of the real estate industry, and delays can have serious consequences. According to a recent report from a leading law firm, estate agents may be facing bankruptcy due to delays in the conveyancing process. The report states that the delays are due to the backlog of cases caused by the coronavirus pandemic. The pandemic has caused a surge in demand for property, resulting in an increase in the number of conveyancing cases. This has caused delays in the process, which has led to estate agents not being able to complete transactions in a timely manner. The report ...