I think it's an excellent idea. I don't understand why some people object to changes that are designed to make life a little less stressful. It puts the onus for making sure that all a property's paperwork is in order on the seller, which as it should be.
It's a nightmare if you're a buyer and have spent money on a survey or a search only to discover that there's some potentially dealbreaking problem in a property you want to buy. It should speed up the process of buying and selling and should therefore make it slightly less expensive. And it will encourage sellers to make sure their house is in order, so to speak.