How is automation changing the conveyancing sector?

Moving home is time-consuming, not helped by an often slow conveyancing process involving a lengthy wait for legal documents to be sourced, sent, reviewed and signed. With automation helping to speed up processes in many sectors, this is one area that could address the time-consuming issues associated with moving home.

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The problem with manual processing

It is not just the length of time it takes to manually complete documentation in the conveyancing sector that causes frustration for property sellers and buyers but also the increased risk of error or inaccuracies when documents are completed by hand.

Manual processing also promotes inefficiencies, taking up conveyancing solicitors’ precious time.

Benefits of automation

Increasing numbers of forward-thinking conveyancing firms are recognising the benefits of adopting automation processes and digital technology to speed up transactions. According to Mortgage Finance Gazette, automation frees up a solicitor’s time to handle more complex tasks; however, it is not just for the benefits of the conveyancing solicitors themselves, such as, that automation is being embraced.

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Nowadays, in a world in which consumers expect to find answers and information at the click of a button, there is an expectation that this should translate to the property sector. This is where automation comes in to help property buyers and sellers.

Automation processes

Case management systems have been created that reduce the amount of data entry needed through automated form and statement completion and search requests. Portals have also been developed that enable buyers and sellers to log in to see exactly what stage the transaction process has reached.

Increasingly, artificial intelligence will play a role in the conveyancing sector, with complete transactions becoming digitalised. AI will enable standard legal documents to be set up and completed with minimal input from a solicitor, which will especially be relevant for new-build properties.

Other aspects such as documenting mortgage lending and property ownership will increasingly rely on automated processes over time, cutting out time-consuming paper trails and manual chasing.

The internet has enabled us to find out more information about businesses. As transparency increases, consumers will be able to search for those conveyancing firms that rank highly for efficiency and speed; therefore, savvy legal firms of every size will want to prioritise automation if they wish to stay ahead of their game and outpace their rivals.