Teal Legal has just launched a new conveyancing product, The Home Owner’s Passport.
The Home Owner’s Passport (or HOP) is aimed at providing homemovers and agents with a tool to help improve the conveyancing process, and provide guaranteed completion timescales. The online tool has been developed by Teal Legal in a year long collaboration with Keele University.
It works by interrogating conveyancing due diligence data and applying algorithms to work out how complex the conveyancing transaction is likely to be. Based on this information, a predicted conveyancing timescale is generated.
This allows properties to be marketed with clarity on how long it’s going to take to get the legal work sorted post offer. With conveyancing taking an average of four months and third of sales falling through, the Home Owner’s Passport provides a tool to make a significant difference to the current status quo.
If it’s registered with the Land Registry any home can be searched, free of charge at, www.homeownerspassport.com to generate a free timescale assessment.
A full HOP Report is then available for agents and sellers which includes a bespoke checklist for sellers to get them ‘move ready’. By completing the steps advised in the report whilst the property is being marketed, sellers can then achieve an even earlier ‘potential move date’.
Sally Holdway, CEO of Teal Legal said, “Agents have told us is that by using the HOP as part of their marketing strategy, it can provide a real USP to the local competition, particularly in winning new instructions. Having the move timescales available at their fingertips can be a real wow factor for potential clients. From our tests, the majority of freehold properties with the seller’s checklist completed have fallen into our seven week timescale category, some two months faster than the national average, which clearly also has a positive impact on the agents’ cashflow.