Have you ever had to find an important document related to your property? Or have you had to wait longer than anticipated to get questions answered about the conveyance on your house?
According to a Select Committee report, the current home buying process is not fit for purpose. Over the last 5 years between 25% and 35% (so 1 in 4, to more than 1 in 3) of all property transactions fail each year: that’s approximately 300,000. You often hear friends and family that are moving home, complaining about how long the house moving process takes. At present the average transaction takes 12 – 14 weeks, the same length of time as it did in the 1980’s. Why is this?
Delays are often caused by
Key property information being missed or being received late by the solicitors
A lack of trust in the data that solicitors or buyers receive
Slow and often in-correct Identification processes.
Anomalies appearing very late in the paperwork, including information from the lender or land registry – this means wasted time, stressful and emotionally upsetting, uncertainty and unable to make forward plans, - this could include schooling or work issues and also very costly to you the client and also your buyer.
These types of frustrations could be coming to end with the introduction of digital property logbooks.
Most of us are now used to updating our personal information online in a myriad of places, or maintaining a digital CV. Well your digital property logbook is like a combination of those and your logbook for our car. In the same way that your vehicle logbook is now a requirement from the DVLA, it is likely that in a few years, you will have the same for your home.
Myself and Exquisite Home want to ensure all homeowners have access to their very own digital Property Log book - a digital logbook that enables you to keep all your documents and paperwork - including receipts, guarantees, planning consents - together and secure in one place. This would ensure all of that key information can easily be kept safe and secure and then safely shared as and when you want; particularly at the point of sale, helping to significantly speed up the whole process.
Think of it as the ultimate Wikipedia page about your house – the source of all knowledge and insight about your home that you can edit as your home changes.
Your very own Digital Logbook – Twindig – gives you complete control of all your information. It gives all parties the information they need, when they need it; saving time, improving the whole buying and selling experience, as well as reducing failed transactions and saving you money.
This digital home portal can also keep you up to date with property price and marketing trends, and also important dates, such as your yearly boiler service or smoke alarm test.
You can claim your digital property logbook right now and begin uploading documents and information. Just click the LOGBOOK button below to begin.
You can also listen to my interview with Daniel Hamilton-Charlton from Property Searches Direct who explains in more detail some of the benefits of the Digital Property Logbook, and how he has made use of it himself already. Just click the PODCAST EPISODE button below to listen in, or follow the links on that page to listen on Spotify, Apple, or Google podcasts.
If you have any other questions or would like some assistance finding or selling a home, don't hesitate to get in touch via my contact page.
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