A technology firm working in the legal sector claims it is only a few months away from launching a service that will enable ‘instant conveyancing’.
Teal Legal says its product will enable estate agents to market properties as ‘pre-approved’ for sale and give buyers an indication of how long it will take to complete the conveyancing process for each property.
The system digitally interrogates the Land Registry and other search data sources about prior to a sale being agreed, automating much of the legwork conveyancers often spend weeks completing.
“We crunch all the data and come up with a report that says whether the property is ‘good and marketable’ which despite what most lawyers say, can be automated,” says spokesperson Sally Holdway (left).
“Getting the process completed on a property purchase is not a fun process and it’s about time someone made it quicker, easier and presented to the consumer as an app, and we’re working on that.”
Teal’s Instant Conveyancing product will be part of its soon-to-be relaunched conveyancing app called the Home Owners Passport.
It puts all a property’s information onto one platform and updates buyers and sellers on progress.
The app will reward house buyers and sellers who complete their paperwork on time and give them money off property-related services and provide a moving-in pack including bottles of fizz from Naked Wines.
“What we have built truly puts the home movers in the driving seat,” says Sally. “We know that the lack of control they feel during the conveyancing process is one of the biggest pain points.”
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