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New up-front information service launched in bid to cut transaction times – London Wallet

Mark Helprin by Mark Helprin
February 6, 2024
in Real Estate
New up-front information service launched in bid to cut transaction times – London Wallet
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Home Sale Pack has formally launched with a service that promises to drastically shorten the homebuying and conveyancing processes by ensuring that buyers have up-front access to all of the vital information they require to make a decision on whether or not to purchase a home, rather than having to wait until they’re weeks into the sale.

The company points out that in 2023, 269,728 home sales fell-through, leaving buyers, sellers, and agents in a state of limbo, and potentially having a catastrophic domino effect on many other sales linked to its chain.

One key reason for fall-throughs is the amount of time it takes to complete the conveyancing process. Current estimates put the average conveyancing timeline at 12 – 16 weeks.

Home Sale Pack will aim to reduce timeframes by providing buyers and conveyancers with relevant, up-front information, from planning permissions and local authority searches, to survey results, EPC ratings, and the newly announced material information requirements, the latter of which are required under consumer protection regulations.

How does it work?

A seller can either register directly through Home Sale Pack’s platform, or they can be introduced through their Estate Agent. Sellers then verify their ID, confirm the boundaries, order title documents and searches and complete their property forms through the easy to follow steps. Home Sale Pack then goes on to find as much additional, formal information as possible and raise any corrective actions required by the seller within a property health check, before finalising a sale ready pack.

Home Sale Pack has been brought to the market by Ruth Beeton and Simon Priestley, both of whom are highly-experienced conveyancing solicitors at HS Conveyancing Ltd and know the process inside out, including its obstacles, delays, and pitfalls, all of which have been directly addressed with their new technology solution.

Home Sale Pack is currently developing Artificial Intelligence technology that will automatically and comprehensively find any and all information about a property, thus eliminating the tiresome administrative duties that have come to consume the majority of a conveyancer’s daily work.

Ruth Beeton, co-founder of Home Sale Pack, said: “Property transaction timelines have become far too long and as a result fall-throughs are far too common and expensive to consumers and the property industry alike.

“We have created a solution that gives home movers an easy-to-follow digital roadmap to obtain and display as much information as possible – upfront. Making the process faster, more reliable and less stressful.

“It is no longer acceptable that our industry makes people wait until the eleventh hour to have access to the information they require. We simply must do better, and Home Sale Pack is the ideal solution based on the decades of ground-level conveyancing experience we have. We aspire to become the industry standard in up-front information to the benefit of everyone involved in the property buying and selling process.”

 

I don’t care if the boiler has been serviced – let conveyancers get back to practising law

 





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