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The idea behind the scheme appears to state that only sellers should be compensated if the buyer pulls out, what happens if the buyer has had searches done, valuation done, mortgage offer paid for and the seller pulls out. Who compensates the buyer? To my knowledge I have never had a client withdraw from a transaction for a trivial reason. The only way a transaction would be more efficient is if the local authorities returned local searches earlier, mortgage offers were sent out earlier, or clients applied for mortgages earlier and some conveyancers reduced the "standard enquiries".