Savills is aiming to speed-up commercial and residential property transactions with the introduction of ‘Click to Purchase’ – a unique agent-operated transactional platform for buying and selling property online.

The model, which originated in the UK, enables buyers and sellers to engage in private treaty, best bids and real-time auctions from their desktops or on the go.

Traditionally, following the submission of an offer on a property, both buying and selling parties enter a ‘sale agreed’ period, which can last anywhere between 4 and 6 weeks – or even longer, with no guaranteed commitments.

The Click to Purchase platform removes this uncertainty, allowing contracts to be exchanged immediately by an acceptance by the agent of a clicktopurchase® offer submitted by a buyer; legally binding electronic signatures are attached to electronic contract notes. The platform, which has been widely used in the UK has, in many cases, seen deals executed in as little as 2 days.

Click to Purchase also addresses accountability and due diligence concerns, with buyers having to pass an online verification process before they are able to submit an offer. In addition, all actions, from the verification of a purchaser, offers and online exchanges, indeed the entire process, are all recorded electronically, so both buyer and seller have full transparency and history of all exchanges.

Angus Potterton, Managing Director, Savills Ireland commented:

“You can buy almost anything online nowadays with the click of a button, however when it comes to property, it’s a bit more complicated. The main impediment to embracing online property transactions has been the difficulties of creating a simple and accountable process which is legally compliant. Clicktopurchase® provides this intelligent and easy to use online execution process which provides digitally signed documents which are tamper proof, verifiable and validated. We look forward to providing this service to our clients.”

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