Tel Aviv investor secures pioneering online deal

Published 20th May 2010

A private investor in Tel Aviv has become the first Israeli to exchange contracts online while buying an investment property in the UK.

The transaction took place using online property service Click to Purchase. The service allows buyers to exchange legally binding contracts online.

Singer Vielle Sales sold the property. Senior partner Neil Singer said: “The investor had been visiting London on business and heard of the property in Highgate, North London. He decided to view it before flying home.

“The following day, whilst sitting at his computer in Israel, he submitted an online Click to Purchase offer. The offer was accepted and the contract was immediately exchanged online. The whole deal took no more than 48 hours.

“We have been offering this service for just six months and have already concluded deals online worth over £10m. I think it is fast revolutionising the way that property investments are acquired.”

Source: ' Property Week '

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