Knowledge Bank
Find below all the answers to your burning questions about property transactions and Clear Chain.
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Frequently Asked Questions
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This can happen but with Clear Chain we aim to let you know as early as possible if there are any issues. With Clear Chain you have the best chance of the chain healing and being able to complete the sale in the end. If the chain completely fails then you will be given a voucher for your next chain within 12 months.
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We follow the least required principal. Only those that absolutely need to know your name and email like your conveyancer will be able so see PII. As for tasks only people involved in a given task can see the details of the task. Others can only see if a task has been completed and if there are warnings/issues with it not what the issues are.
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Clear Chain is designed with security at its core. Powered by the latest encryption technology, Clear Chain allows you to communicate, coordinate and share information with different parties - without compromising any personal or confidential information. And with systems built on bank-grade security you can confidently store important documents and manage who can access them, in a click.
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By making the use of Clear Chain a condition of your sale or purchase, you can ensure that everyone is managing the property transaction together. It's very common for conditions or stipulations to be added to a property transaction. Common conditions of sale that you may know of include fixtures and fittings agreements, making fixes to a property or confirmed dates for completion. Now, you have the opportunity to make your property chain being managed via Clear Chain, a stipulation of your sale.
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You can add other buyers or sellers if they are also owners or buying with you. You can also invite your estate agent, mortgage broker and others involved in the process.
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We recommend you reach out to the rest of the chain when you decide to go with Clear Chain or when you accept/put in an offer that you stipulate the whole chain use Clear Chain. If others aren't keeping up with updates the system will reach out with automated reminders. We find once people have used the system they are keen to keep it up to date.
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No, even for single buyer seller transactions Clear Chain can be useful to track your progress especially for first time buyers as it can help them understand the process.
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You could, but you will get the most out of it if everyone is using it. You have the right to stipulate that everyone in the chain uses it.
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Yes, it's also free for them to use as the Buyer and Seller's fees cover their usage. Ultimately its the buyers and sellers responsibility to ensure everything is up to date. They can either delegate that to the responsible parties like the conveyancer or update it them selves.