Summary
Reform of the way secondary market transactions are handled are urgently required to mitigate risk for buyers, sellers and brokers
Analysis
This story has been some time coming and I am surprised it has not happened sooner. The means of selling property on the secondary market leaves all involved exposed to an unreasonable amount of risk that could be easily mitigated by title insurance or more secure conveyancing practices including use of escrow accounts.
The scope for theft by the owner of a broker or the staff is unecessarily vast.
Sam Crispin consults with leading institutions through GLG
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
