In today’s complex property landscape, completing a property transaction is more challenging than ever. Delays are mounting, and the reasons are multifaceted. One major issue is the growing gap between client expectations and reality – many buyers and sellers still believe the process should take around 60 days (8.5 weeks), while the truth, it often stretches to 120-160 days. This mismatch can and often does lead to increased levels of chasing, dissatisfaction, stress and ultimately failed transactions.
A significant contributor to conveyancing delays is the inefficient and numerous rounds of communication between buyers’ and sellers’ lawyers. Simple queries and requests for missing or incomplete documents are passed back and forth, creating a frustrating bottleneck. In fact, one of the most overlooked causes of delay in property transactions is the rise in unnecessary additional enquiries – often triggered by incomplete contract packs.
Why upfront information is no longer optional
According to the report “Why Don’t Lower Volumes Mean Faster Property Transactions?“, the length of time taken between enquiries raised and all replies received has increased by 30% from 2019 to 2024. When compared to 2007, the average time has risen from 26 days to 52 days — a staggering 100% increase.
When you consider that an estimated three quarters of enquiries are deemed to be unnecessary – i.e. they could or should have been covered off by an accurate and comprehensive contract pack at the outset – you can clearly see that upfront information is no longer to be regarded as optional – it’s a necessity if we are to turn the tide on spiralling conveyancing delays.
How Intelliworks UFI property process helps
At Ochresoft, our Intelliworks Upfront Information Property Process helps to streamline property transactions by collating all the information early in the sales process to cut time from offer to completion.
This results in:
- Fewer enquiries raised
- Faster completions
- Improved rapport between estate agents and legal professionals
- Fewer fall throughs
- Increase customer satisfaction
When our law-firm customers get instructed on sale transactions at the point of property listing and use the Intelliworks UFI Property Process, they have on average completed 29% faster than those sales cases that do not utilise the process. Putting workflow into the gathering and processing of upfront information means that we are helping conveyancers to work more proactively, consistently, and with fewer delays. It’s a win-win for all parties.
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