Loop <> Movebutler - Pre-Market Checks including e-document sign and Legal Right To Sell Checks

Below is a video tutorial showing the end-to-end workflow of the new pre-market checks within Loop, that includes the process for sending and completing the agency agreement via e-document sign, and the Local Right to Sell review check within Movebutler.

FAQs

Why has the process changed / what is the point of the integration? 

eXp have streamlined the process so that you can send the contract for e-signing, submit the property and seller details to Movebutler, and track the status all from one section of Loop. 

eXp have also introduced the Legal Right to Sell feature within Movebutler to make meeting compliance requirements easier.

Blockers are now in place to ensure a property cannot be listed until all three parts of the process are completed. The eXp Compliance team will continue to review every listing manually to ensure there are no loopholes and that nothing has been missed.

I have a property currently in the pre-market stage where I’ve already obtained a signed contract and downloaded the title? 
Please contact kyla.freeman@exp.uk.com to request these steps be overridden.

Am I now required to upload more compliance than before?
No, the same regulations and due diligence apply. However, the system now simplifies the process and provides reminders of what is needed to proceed. This is because HMRC requires the necessary compliance to be completed before marketing.

There are more than 2 sellers, how does that work with the e-signing? 

All of the sellers in Loop will be reflected in the contract, no matter how many there are.

I haven't received the contract to sign?

The contract is sent to seller 1 to sign, then seller 2 to sign, and then you to sign.

Can I still use Yoti?

No, your account will soon be changed to ‘view’ mode only.

What happens if my seller doesn't have an email address? Please print out the sales terms, have it signed in ink, upload the signed document to Loop documents, and then contact kyla.freeman@exp.uk.com to override the steps.

What has changed on the contract? We have added eXp UK’s bank details to ensure absolute clarity on where payments should be made. We have also tightened the wording to confirm that all fees are inclusive of VAT, and updated the notice of cancellation to better comply with the law.

How does the process work for auction listings as they complete the contract and AML? The process is the same as before: please upload the AML, contract, title, and any other required documents to Loop, and then contact kyla.freeman@exp.uk.com to override the steps on Loop.

I have downloaded the title but the status is not showing as complete? Please check that you have completed the Legal Right to Sell review, you can find this by clicking on the ‘progress’ button on loop, which will bring you through to Movebutler where you can find the title tab’.  You can view more frequently asked questions regarding the LRtS here - https://support.loop.software/support/solutions/articles/103000393209-legal-right-to-sell-lrts-faq-and-user-guide

What do I do if the title isn't available on Movebutler? Submit the Legal Right to Sell review by uploading alternative proof of ownership, such as completion statement, TR1 form, mortgage statement, paper deeds etc.

What happens with part exchange instructions? (Companies such as Persimmon, Taylor Wimpey, Barratt Homes etc) Please obtain and upload the instruction letter and company risk assessment to loop documents and then contact kyla.freeman@exp.uk.com to override the steps on Loop.

Why do I still have to copy and paste the AML reference code for my clients? We did consider making the process automatic; however, this would require you to complete a new AML check for each seller on every transaction. If a client were selling multiple properties through you, or both buying and selling, you would not be able to rely on an existing AML check even if it were still in date.

Please note any manual overrides can take up to 2 working days.