Conveyancing experts to bring technology-led home sales information solution to market to improve transaction lead times.
Experienced conveyancing lawyers from the North East are developing a new legal and property tech-led business, Home Sale Pack, which will speed up house sales.
Designed to reduce the time it takes from offer to completion, the concept combines the in-depth knowledge of conveyancers with the use of AI-led technology to source, analyse and present key documentation to provide up front information for house sales before the property is marketed.
While stakeholders, including estate agents, solicitors, surveyors and the Land Registry are advocating for change in the conveyancing process, the industry has yet to fully embrace technology to improve the efficiency and pace of the process.
Currently, according to RightMove figures, it takes on average 21.5 weeks to move house from accepted offer to completion. Much of this time is taken by solicitors on both sides of the transaction requesting and reviewing documents ranging from Property Title Deeds and Energy Performance Certificates through to property-specific information. The product allows the sharing of information and data to speed up the process.
Building on the concept of the Home Information Pack, which was scrapped by the government in 2010, Home Sale Pack now brings all the information, including all the current trading standards regulation on material information by utilising technology such as digital signatures, together ahead of the property being listed and uses proprietary software developed by the business to reduce transaction timescales by allowing sellers to share information with all stakeholders in the process.
Due to launch in early 2024, Home Sales Pack has been devised by a team of conveyancers from North East with several decades of property law and conveyancing expertise.
Ruth Beeton, co- founder of Home Sale Pack, who is leading the development of product has an extensive background in the conveyancing industry, said:
“Upfront information in the form of Home Sale Pack will revolutionise the house buying process. Conveyancers work exceptionally hard to help home buyers and sellers complete their transactions, but existing processes can be cumbersome and time consuming.
However, technology has now reached the stage that it can be effectively applied to dramatically improve the home selling and buying process. As experienced conveyancing solicitors we can see where technology can make a difference while maintaining the expertise and level of service that the public expect from their conveyancers.
We believe that the use of AI technology combined with decades of conveyancing experience will lead to a reduction in time from offer to completion, falls offs, and stress for homebuyers and sellers. We’re excited to bring the service to the market early next year. Our website Homesalepack.com is now set up to allow Estate Agent and Sellers the opportunity to pre-register so they will be first in line to use the product when it is launched.”
