Sales channels

The clicktopurchase® platform provides for online execution by a variety of sales channels.

  • clicktopurchase® (private treaty)

  • clicktopurchase® “best offers”

  • clicktopurchase® (private treaty)

clicktopurchase® provides a Buyer with the ability to submit a legally binding offer to treat which, if accepted by the agent on behalf of the seller, results in an instant online contract exchange.

Should it be decided to progress with a sale by clicktopurchase® (private treaty) exchange, the agent and seller may decide to offer you a short exclusivity period. Should you fail to exchange within the exclusivity period, you can still submit a clicktopurchase® offer later but you will no longer have exclusivity.

Contract amendments, if required, will be fast and easy by either amendments to the Special Conditions of Sale, or by way of an Addendum of Sale.

Typically, clicktopurchase® sales do not require any contract amendments.

clicktopurchase® “best offers”

Should the agent wish to close a sale by setting a “best offers” deadline, you will need to submit your clicktopurchase® offer by the published time and date. Offers will not be capable of submission beyond the deadline.

Traditional exchange

Should it be agreed to sell by “traditional” (private treaty), the parties are able to use the contract suite for fast physical signature of the Memorandum of Sale.

Contract amendments, if required, can be fast and easy by either amendments to the Special Conditions of Sale, or by way of an Addendum of Sale

Verifying Purchasers

Before a bidder can submit a clicktopurchase® offer, they must first be verified to accord with identity and financial requirements. 

A. Identity clearance

A bidder will need to complete an online verification form.

During this process the Bidder will be asked to do Two Factor Authentication.  Further information about this can be found here:  https://intercom.help/clicktopurchase/two-factor-authentication-new/two-factor-authentication-at-clicktopurchase

This will generate an email to the UK solicitor acting on behalf of the Buyer.

Figure: The verification form to be filled in by the bidder

Figure: The email showing that a verification form has been completed

Figure: The Money Laundering Certificate sent to the solicitor

If the agent has opted for an additional verification document, specific to a property, to form part of the verification process, this will also be distributed.

When the agent has completed the identity checks, the bidder will see this information displayed in their My Account page and at clicktopurchase®.

Should the seller require any further specific information to accord with The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulation 2017, you will be contacted.  

For detailed information regarding the UK money laundering and verification process, please refer to the "The New UK Money Laundering and Verification Process" guide in the Information Centre.

Download Money Laundering Certificate

B. Financial clearance

The agent may choose to undertake appropriate financial checks on the proposed Buyer. This may involve obtaining accounts, references or requesting bank statements. When the agent is satisfied with the verification information supplied, you will see on the screen that you are able to proceed.

The bidder is easily able to see the status of their verification and when cleared to submit a clicktopurchase® (private treaty) or clicktopurchase® “best offers”.

Figure: Showing Bidder and their verified status

Initial Deposit Option

clicktopurchase® provides the agent with the option to ask a particular bidder to supply an Initial Deposit before being cleared to submit an offer. If the agent makes this selection, you will receive notification. The Bidder’s Initial Deposit is a payment to demonstrate commitment. It will count towards the purchase price should you be successful, or be returned in the event that the property is sold to another party.

Figure: Requesting the Bidder’s Initial Deposit

Figure: Showing what the bidder sees when an Initial Deposit is requested

Submitting your clicktopurchase® offer

During this process the Bidder will be asked to do Two Factor Authentication.  Further information about this can be found here:  https://intercom.help/clicktopurchase/two-factor-authentication-new/two-factor-authentication-at-clicktopurchase

This is how a bidder makes a clicktopurchase® offer:

Figure: the make an offer form

Having your clicktopurchase® offer accepted

When a bidder submits a clicktopurchase® offer on behalf of a Buyer (who may be the bidder), an email is generated to all parties confirming the terms of the offer. The terms of the offer are also displayed in the bidder’s My Account page

If the seller instructs the agent to accept the offer, the following actions occur instantaneously:

  • A binding contract of sale is formed

  • All parties receive confirmation and an electronic copy of the digitally signed Memorandum of Sale

  • The property is marked as “Sold”

Figure: Email showing an accepted offer

Figure: Memorandum of Sale

Having your clicktopurchase® offer rejected

A clicktopurchase® offer will expire if the Bid Expiry deadline passes.

In addition, the agent may choose to reject a live clicktopurchase® offer. You will receive email confirmation and a message will appear in your My Account.

Figure: Email showing a rejected offer

Participating in a clicktopurchase® “best offers”

If the agent has selected to close a sale by a clicktopurchase® “best offers”, this sales channel will be clearly displayed.

Figure: Showing a property that has a clicktopurchase® “best offers” sales channel

You will need to submit your offer before the deadline specified by the clicktopurchase® “best offers”.

Completion Conditionality Feature

We provide a feature which may provide a Buyer with the option to submit an unconditional clicktopurchase® offer, or one with completion conditional upon funds being available, or conditional upon satisfactory survey. The seller decides if they wish to provide clicktopurchase® Buyers with the ability to make a conditional offer.

Please refer to the Extra Special Conditions of Sale for Conditionality

If the feature is available and a Bidder chooses to make a conditional offer with completion conditional upon funds being available, a default penalty of 0.5% is charged to the buyer for failure to complete an exchanged contract. If a Buyer exchanges with completion conditional upon survey, and a material fault is revealed, the buyer may rescind the contract.

Figure: The selection as viewed on the property when making an offer

This conditionality feature allows a bidder to submit an offer quickly. If the Buyer believes funds will be obtained to complete the purchase, by obtaining a loan or raising money elsewhere, perhaps by way of selling another property, why should the seller go “under offer” with all the risk which this entails? Let the Buyer show true commitment.

Similarly, if a seller is faced with an unconditional offer at say £1m and an offer with completion conditional upon finance at £1.1m, the seller can make their choice. The ability to submit an offer with completion subject to satisfactory survey is similarly designed to create a higher level of certainty and speed for both buyer and seller.

Completion Date Feature

clicktopurchase® provides a feature to allow flexibility on completion date when submitting a clicktopurchase® offer.

If the seller wishes to allow the feature to be made available, you can submit an offer with a completion date which may vary from the preferred date proposed by the seller. If the seller is prepared to accept the offer with your proposed completion date, this forms a term of the legal contract.

If this feature is not made available, any offer will be on the basis of the completion date or period required by the seller.

Figure: The property will allow the bidder the completion date

My Account

The transactional history can be viewed at any time by a bidder in their My Account. This is accessible to them via the widget.

Figure: My Account, available in the widget

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