How to manage tight settlement deadlines

Even at the best of times, managing a settlement can be challenging. Between delays, adjustments, difficulty contacting banks, councils, and more, there are many opportunities for time to slip away.

On top of this, for your client, the settlement process is usually the last hurdle before they legally take possession of a property, so they may be feeling anxious, stressed, and impatient. This pressure can often amount on you, as their lawyer or conveyancer.

Fortunately, there are ways to manage tight settlement deadlines. Here’s three tips:

Involve a settlement expert

When a client submits an urgent request, it can be difficult to ensure the matter is attended to, and seen through to completion on time. In instances like this, it is helpful to have extra support. SettleIT, powered by InfoTrack, is a flexible solution, allowing you to outsource the lodgment of registry documents and settlements – both electronic and manual. Our team are dedicated, reliable and determined to help you from the moment you get in touch.

Cornwalls recently enlisted the help of SettleIT to assist with a last-minute client request. “We were referred to SettleIT and the experience was brilliant. We engaged SettleIT for something that had a very tight timeframe, and the team worked diligently to get things done as fast as they could. The constant communication and availability made the process a lot smoother than it otherwise would have been and they made sure to take care of as many issues as they could. We are very grateful for the customer service.”

Request real-time information

Half the battle when processing a settlement is reliable and consistent communication between involved parties. It is not uncommon for clients to request frequent updates on their matter, and these requests can occur at inconvenient times.

SettleIT’s new messaging tool allows you to directly contact the settlement agent working on the matter and request information in real-time. Plus, you can quickly attach and send documents relating to a matter via the messaging tool, saving you valuable time in trawling through emails. Since launching the SettleIT messaging tool in September 2021, emails to our clients have reduced by over 50%!

Escalate matters

Reasons for escalating a matter may vary, and very often it’s due to no fault of the lawyer or conveyancer. For example, the length of the settlement period is typically between 30 and 90 days, but this can vary as the settlement period is mutually agreed upon by the buyer and seller. This means, you may be left with minimal time to process a matter.

Technology solutions like SettleIT allow you to request ‘Urgency’ or ‘Escalation of Settlement’ for an extra fee. This will ensure the matter is prioritised, enabling you to meet demand and provide a positive client experience.

Technology can help you achieve your goals and keep up with client demands. At SettleIT, we aim to make our clients’ lives more efficient and productive, meaning firms, like Cornwalls, are able to focus on what really matters to them. If you would like to take advantage of the solutions on offer with a stable, leading innovator, get started with SettleIT today.