A new digital property completion platform, powered by artificial intelligence and machine learning, is set to slash completion times and eliminate outdated processes which add weeks to home sales and purchases.
Available for use by all estate agents and solicitors, WeCOMPLETE is the first platform of its kind capable of streamlining the completion process on any property transaction, whether you are a seller or a buyer. It is claimed that by using the new platform, completion times will be counted in days rather than weeks or months.
Launching in autumn 2020, the platform moves the completion process to a safe and secure digital location, doing away with outdated practices like physical signatures letters and photocopies, which delay progress being made.
All of the necessary actions to complete a deal can be carried out via the platform, including: anti-money laundering checks, proof of funds, lender integration, property searches, queries, certificates, forms, document filing, e-signature, payment collection, invoicing and all communications between all parties.
As a result, by selecting an estate agent or legal team that is powered by WeCOMPLETE, buyers and sellers can enjoy a consistently smoother, faster, and more transparent completion process.
“Despite a number of attempts to modernise the process, property purchases are still frequently subject to lengthy delays, with the completions often taking around 16-18 weeks.
“Unlike other solutions, our technology doesn’t just give estate agents and legal teams the ability to see where the causes of these delays lie, it actually gives them the power to prevent them from happening in the first place.” Said Amy Simmons, CEO of WeCOMPLETE.
The platform offers total transparency: both buyers and sellers receive real-time updates to their phone and email address as their case progresses, and can easily check the status of their sale at any time with a simple online calendar. It also provides the ability to monitor the progress of other sales in the chain.
All communications can be conducted via WeCOMPLETE, using a variety on in-built tools. Legal teams can invite groups or individuals to join them in Zoom meetings or use instant messaging to communicate with their clients.
These tools eliminate time-consuming postal, phone and email communications, while encouraging transparency and efficiency, and, critically, protecting buyers’ and sellers’ privacy.
Simmons added: “Despite innovative technologies being successfully embraced elsewhere in the property sector, the completion process often remains inefficient and unsatisfactory for all involved.
“This is because the completion process is inherently complex, particularly when long chains are involved, which has made it extremely difficult to develop a solution that works for any transaction.
“Our system is the equivalent of a digital adrenaline shot for property deals. Offering speed, efficiency and seamless communication from quote to completion, WeCOMPLETE has been meticulously designed to tackle this complexity, and make a tangible difference to both buyers and sellers, regardless of the nature of the transaction.”
WeCOMPLETE will be fully operational this autumn.
For more information, visit https://we-complete.com/