The industry average for fall-through of property transactions is currently around 35%.
Sales progression experts Assured Sale and Progression (ASAP) Ltd has launched a proposition aimed at further speeding up the conveyancing process by guaranteeing no-sale, no-fee on all legal costs and disbursements, including searches.
Having tested the proposition, the business is now rolling out the offer to all estate agents, IFAs and brokers in England and Wales.
The service hopes remove financial risk for the home buyer and reduce the average transaction time from sale agreed to exchange.
Already performing above than the industry average of 126 days from sale agreed to exchange and completion, ASAP have found that their new model cuts a further 4 weeks off their transaction times resulting in a new average of 77 days.
The industry average for fall-through of property transactions is currently around 35% with delays being a principal factor in many cases.
Meanwhile using initiatives such as the 'No Sale No Fee' searches offer, ASAP’s fall through rate is tracking at 15%.
Richard Megson (pictured with fellow director Tony Hill) , director of ASAP Ltd, said: “Our offer is completely unique to the market.
"The homebuyer benefits because it removes financial risk from the purchase process.
"The estate agents benefit because it speeds up the process – and that means satisfied clients, reduced fall-throughs and getting paid for their service sooner – great news for everyone’s cashflow.
"Sales falling through is a considerable threat, and by offering no-sale, no fee searches, we are removing one of the main causes – delays.”
