In an increasingly climate-conscious world, we are all looking for ways to help the planet. Working paper-free is one of the ways to do that but it is not just about saving trees. It also saves you time and money.
Here are some of the ways in which tech improves your experience of buying and selling a house.
Quick and easy ID verification
When you first instruct a solicitor, you need to provide proof of your identity. This is a mandatory part of the process to comply with our Anti-Money Laundering checks and prevent financial crime.
We need a driver’s licence or a passport to prove that you are who you say you are. In addition, we need a recent bank statement of council letter to check your address. We verify the information against official records to check that it is valid.
Historically, these checks have been onerous. Either you would have to come into the office to show your documents to us in person, or you would scan them for us. Then the checks were conducted manually.
Now, we have digital verification systems. We use Infotrack for all our onboarding formalities. The software verifies your ID by cross-referencing your personal data with records stored digitally. It is much quicker than manual systems and reduces this process from days to hours.
Start your transaction without delay
To begin your transaction, we first get the file up and running. Again, this requires more admin than you might think. As a regulated industry, there are a few hoops we need to jump through before the file is open.
We do a quick onboarding questionnaire with you and send you a client care pack to explain what you can expect from working with us. We used to do this on paper and via the postal system. Now this process is all handled through the electronic client on-boarding system (eCOS).
The eCOS system gives you transparency over your file, and you can access it through an app on your phone and PC. In addition, it saves huge amounts of time in the overall process, reducing this step from weeks to just a day or two.
Simple ways to sign
There are many documents to sign in the course of your transaction, and getting wet signatures creates quite a blockage in the process. To sign in person, clients either have to attend the office to sign documents, or print them at home and send them back. If they miss a page to sign, that causes further delays.
Now we use DocuSign wherever possible. DocuSign will show you exactly where to sign so that no pages go unnoticed. You sign electronically, without the need for printing and scanning.
This process takes a matter of minutes, rather than hours, or even days if you have to go into the solicitor’s office.
How tech improves your experience
As you can see, tech in conveyancing makes the process much quicker and more straightforward. It is one of the reasons we are able to complete transactions in as little as four to six weeks sometimes. However, it is not just speed, time and the environmental impacts. With less time taken up in paper-based processes, you get much better value for money for your transaction.
If you would like to work with an efficient conveyancer, please get in touch with Sarah and her team.