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 you instruct your agent to accept, will result in an instant online contract exchange.

Should it be decided to progress with a sale by a clicktopurchase® (private treaty) exchange, you and your agent may decide to offer a short exclusivity period to a specific purchaser. Should the purchaser fail to exchange within the exclusivity period, they can still submit a clicktopurchase® offer later but you will not suffer the problem of deciding whether to withdraw from the transaction; your position remains strong.

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 you and your agent wish to close a sale by setting a “best offers” deadline, you can at any time during the sales process stipulate a deadline for submission of clicktopurchase® offers. Offers will not be capable of submission beyond the deadline.

Traditional exchange

Should you agree 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. This will send an email to the UK solicitor acting on behalf of the buyer.

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

When your agent receives the signed Money Laundering Certificate, we recommend that they also check that the solicitor is listed at the Law Society website. When they are satisfied, they confirm in the administration area that the bidder on behalf of the Buyer has passed money laundering checks and the bidder will see this in their My Account page.

Should you require a specific form to be completed, in addition to the Money Laundering Certificate, or to be issued which sets out additional information required, your agent will be able to upload in their dashboard in order that this form is also automatically issued when a Buyer completes the online verification form. 

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.

B. Financial clearance

Your agent may choose to undertake appropriate financial checks on the proposed Buyer. This may involve obtaining accounts, references or requesting bank statements. When your agent is satisfied with the verification process, they will move the status of the bidder to “clear to purchase”.

The bidder is easily able to see the status of their verification and is now able to submit an offer by clicktopurchase® (private treaty) or clicktopurchase® “best offers”.

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

Figure: The verification pending identity status as visible to the Bidder

Figure: Showing Bidder and their verified status

Initial Deposit Option

clicktopurchase® provides you and your agent with the option to ask a particular Buyer for an Initial Deposit before being cleared to submit an offer. This is a payment to demonstrate commitment which you and your agent may decide is appropriate for a particular Buyer. It will count towards the purchase price should the Buyer be successful, or be returned in the event that the property is sold to another party. This selection is made during the verification process.

  • Bidder receives an email instruction to make a payment

  • Bidder makes the payment

  • The agent marks the payment as received

  • The bidder is now verified

  • They are cleared to make an offer

Figure: Requesting the Bidder’s Initial Deposit

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

During the process, the bidder is easily able to see the status of their verification. When your agent is satisfied with the verification process as described, they move the status of the bidder to “Verified” which enables them to make offers. If they modify information regarding their verification data, example their address, the status will revert to not verified. You may then proceed with checks and verify them again. This is to avoid data manipulation and offer security.

Figure: An email sent when verification information has been altered

This is how a clicktopurchase® offer is submitted

This is how a bidder makes a clicktopurchase® offer:

Figure: the make an offer form

Accepting a clicktopurchase® offer

When a bidder submits a clicktopurchase® offer on behalf of a Buyer (who may be the bidder), your agent will receive email confirmation as well as being able to view the draft Memorandum of Sale in the administration area. We provide an easy method for your agent to forward this draft Memorandum of Sale, which includes the bidder’s digitally encrypted signature, to you along with the Money Laundering Form and financial information, should this information have been saved in the system.

If you instruct your 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

Rejecting a clicktopurchase® offer

A clicktopurchase® offer will expire if the Bid Expiry deadline passes. In addition, you and your agent may choose to reject a live clicktopurchase® offer.

Figure: Email showing a rejected offer

Selling by clicktopurchase® “best offers”

If you and your agent have selected to close a sale by a clicktopurchase® “best offers”, your agent will select this sales channel and bidders will clearly see this displayed

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

A clicktopurchase® “best offers” offer must be submitted by the deadline at which point the platform will not allow further 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, bidders 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 the 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

A bidder’s transactional history can be viewed at any time in their My Account. This is accessible to them via the widget.

Figure: My Account, available in the widget

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