First residential property goes on sale with ‘click to buy’ system used in commercial sector

The first residential sales property in Britain has gone on the market with an agent using a system that allows the full transaction to be conducted online.

Clicktopurchase has been successfully used for commercial sales for a number of years and claims to have enabled over £160m of transactions.

The launch of Version 2 of the platform is allowing agent Andrew Nunn Associates, based in Chiswick, west London, to offer the system.

Clicktopurchase claims to give the agent the ability to legally accept offers and execute the sale online by private treaty, best offers or live auction, with almost instant exchange of contracts once an offer has been accepted.

The platform claims to revolutionise the property sales process, by making buying and selling easy, while delivering certainty and speed.

Andrew Nunn said: “The estate agency industry is entering a transitionary phase moving away from traditional methods of selling property to a more technology-based approach.

“With this in mind we are delighted to have engaged the clicktopurchase platform as an ideal base for alternative selling.

“Our clients can get real benefit here as the platform removes the frustrations of selling property and conversely a serious buyer will also embrace the method as they can legally exchange contracts within minutes of having their offer accepted.”

Neil Singer, CEO of clicktopurchase, said that as the traditional agency model continues to be challenged, “buyers and sellers are demanding a superior service, ease and transparency. All these features are proven and provided by clicktopurchase.”

The property chosen to pioneer the system is a ‘doer-upper’.

http://www.andrewnunnassociates.co.uk/property/as0008db/w4/harvard-road/london/house/4- bedrooms

Information for agents is here:

https://intercom.help/clicktopurchase/uk-start-to-finish-guides/agent

There’s also a video which you might find useful:

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7 Comments

  1. Fairfax87

    “with almost instant exchange of contracts once an offer has been accepted” ?      Please explain how. 

    I’m guessing this assumes a cash buyer, who is not worried about searches.  It doesn’t cover the majority needing mortgages.  I hate misleading claims.

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  2. Neil Singer

    Why don’t you take a look at the platform and you’ll see this isn’t misleading rather than jumping to a negative comment!  Maybe this is why the property industry is so far behind the curve when it comes to technology.

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  3. debbiec49

    Its a valid point about the searches.  Also, what if the property was downvalued?   Is the idea to have these pre qualified prior to putting the offer forward?

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  4. JWc27

    Having taken a brief look at the site, isn’t this simply a “wrapped up neatly in a tech offering” of the process that every good agent carries out anyway?  There is no more instant “contract” here than the moment the agent calls the buyers and says that his/her client will be delighted to accept their offer.  If everything is done as it should be, by a decent, well trained agent who knows his/her stuff, then click to purchase is unnecessary.  I cannot see how it is any different to a sharply run, well prepared instruction.  But happy to be be told how it does differ as all my negs using RPS do this very well with a very low fall-through rate.  Surely, this doesn’t change things, just provides an neat application for the process which has to sit alongside our proprietary software.

    This made me chuckle:
    Initial Deposit Option
    clicktopurchase® provides you with the option to ask a particular Buyer for an “Initial Deposit” before you clear them to be able to submit an offer. This is a payment to demonstrate commitment which you may decide is required. It will count towards the purchase price should that Buyer be successful, or be returned in the event that the property is sold to another party. You make this selection during the verification process and you determine the amount.

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    1. Neil Singer

      Why not look again.  It is not at all the same as you suggest.  When an online offer is submitted, as we explain, it is a legal commitment.  It is as if someone has signed and put a contract on your desk. The agent, on acceptance creates the electronic signed contract.  £160m+ has already been executed in this fashion, including residential property.
      Have a read of the testimonials from buyers, seller, agents and solicitors.  The platform would not seem to be for you, but I would caution against dismissing technologies.  Look how the “traditional” agencies are adopting technical solutions as the world is changing.
      I hope this helps but by all means make contract if you would like to discuss.

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  5. Fairfax87

    Make contract if you would like to discuss ?   Freudian slip !

    So, having been told off, i have had another look.. still misleading in my book, as a vendor does not get a full exchange of contracts, except for cash buyers.  For those needing a mortgage, exchange of contracts is conditional upon survey and finance – nothing new in that, but it has never taken off in England and Wales, for obvious reasons.

    Others like Gazeal are peddling similar wares / systems and not gaining traction.

    Nothing against technology, but there is nothing revolutionary here.   Good luck – you’ll need it.

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    1. Neil Singer

      wrong again. If you ( what is your name?) or anyone else would like to contact me so I can show why your statements are wrong, please call or email. Neil@clicktopurchaseproperty.com
      07974086616
      Always welcome constructive discussions. 

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