Every single action that involves a transfer of money or any other good or property usually takes very long, as it must go through different processes and it’s likely that it must be approved by the institution in charge of that domain. There have been various attempts to ease this process, but they didn’t completely work. Nevertheless, there is a firm that is preparing a new method to speed up the conveyancing process.
What is a home owner passport?
The home owner passport is thought to give completion timescales for users to figure out how long the process is going to take (approximately). It has been created taking inspiration of the failed project of the Home Information Packs, which was scrapped during 2010. The passport is thought to available only online and will work as a digital ID. The firm that has conceived this project has closely collaborated with the Keely University, in order to make it possible.
How does it work?
Its main objective is to give information about the complexity of the conveyance transaction and how long the process is going to take. To do so, the program analyzes conveyancing due diligence information and applies specific algorithms. The program is able to track down any property that is registered in the Land Registry, having access to a huge database, and increasing the rate of success.
The company that’s launching these services claims that it is going to finally make it possible to market the properties with clarity on the duration of the legal process after the sell, a requirement for transparency on conveyancing solicitors Lancashire services and all similar services around the country.
Many operations fall through post-offer due to the long waiting for getting the legal paper done. It normally takes between four and five months.The home owner passport system gives a tool to make an important change to the current market.
How much does it cost to use this service?
Generating a timescale assessment is free of charge to any user. But this is quite a simple document which gives the user the basic information on the issue.To get a full home owner passport report it’s compulsory to pay £29.50. this service is only available for agents and sellers, and include a checklist for sellers, in order to help them get ready faster.
The firm claims that filling the marked steps in the checklist offered to sellers at the same time as the property is marketed, can allow them to even move earlier the potential move date.
Does it really work?
The home owner passport has been tested by some agents during the past summer, and the results are very positive.After implementing this service to their marketing strategy, they were able to provide a real USP to their local competitors, in special when it’s about winning new instructions.
HOP conveyancing timelines have proved to be around ten weeks faster than the national average.Moreover, having such an easy access to the timescales is a really good benefit for potential clients. According to what the practical studies have shown, the properties that had completed the seller’s checklist fell into the company’s seve-week category, which means that it is two months faster than the national average.