A revolutionary new service has been launched by proptech firm iamproperty, aiming to drastically cut the time it takes for UK property transactions to complete. With the goal of reducing average transaction times by four weeks, Sale Ready promises a smoother and faster experience for buyers and sellers alike.
Targeting Private Treaty sales – which account for the majority of UK property deals – Sale Ready prepares crucial documentation much earlier in the process, providing conveyancing support from the outset. By compiling property information, necessary searches, and legal documents at listing stage, the service aims to pre-empt common delays, streamlining a period often fraught with frustration.
The introduction of Sale Ready coincides with government proposals to increase upfront information in homebuying processes, including the introduction of 'sale packs'. These reforms aim to reduce failed transactions and boost market efficiency. iamproperty's new service effectively anticipates these reforms, offering a solution that aligns with the government's objectives today.
At its core, Sale Ready relies on artificial intelligence to review title registers and predict local authority search timescales. This allows for early identification of potential issues, enabling agents and sellers to address them proactively and provide accurate transaction completion estimates. The use of AI reflects a growing trend in the property sector to leverage technology for operational improvements.
iamproperty – with over 15 years' experience in proptech – is already well-established through its Modern Method of Auction platform and movebutler onboarding system. Last year, the firm produced around 20,000 upfront information packs for auction transactions, demonstrating its capability in this area. Ben Ridgway, co-founder at iamproperty, notes how their previous work in auctions has set new standards for market speed and security.
Sale Ready is currently available to iamproperty's network of partner estate agents, providing them with access to prepared documentation and legal assistance from listing stage onwards. This move positions the company at the forefront of market innovation as the industry awaits further details on the government’s planned reforms to homebuying processes.