The firm has updated its real estate due diligence platform to identify property transaction risks.
Search Acumen has updated its commercial real estate due diligence platform,ForeSite, by adding new datasets to identify property transaction risks.
The new data layers have been integrated to provide commercial real estate lawyers with access to 40 public datasets in total.
Search Acumen said this digital-first approachavoids delays and reduces uncertainty by equipping commercial law firms with the data they need to provide better advice upfront.
Christian Woodhouse, head of data and strategic products at Search Acumen, said: “The latest additions to ourForeSiteplatform will arm lawyers with crucial information to mitigate risk and expedite real estate transactions.
“Access to large property datasets is helping transform the legal real estate industry away from paper-based processes towards a digital-first approach.
“This streamlines due diligence processes even further and helps lawyers provide an enhanced service to their clients.”
“Property lawyers depend on data to ensure their clients are fully informed about every aspect of the property they’re transacting.
“That’s why as soon as a useful digital property dataset is available, we work hard to make it readily accessible.
“Law firms should carefully consider whether they can afford to operate without these kinds of insights at their fingertips.
“At the same time, public and private sectors must work harder to provide open data access and deliver the government’s vision of a digital revolution in the property sector.”
Search Acumen now offers users instant access to data showing active and abandoned coal mines from the UK Coal Authority and historic flood records from the Environment Agency.
It also offers the City of London’s published datasets for conveyancing search purposes, covering the development pipeline, highways and tree preservation orders.
Alongside the new data layers, Search Acumen’s platform gives lawyers access to information such as planning applications; commercial and corporate and overseas property ownership.
It also has access to Greenbelt land and areas of outstanding beauty; common and public rights of way; and major infrastructure projects like HS2 and Crossrail.
