Homebuying and selling process

Below describes a simple scenario where the PDTF Schema has a great amount of impact and can be used by multiple parties involved in the property transaction.

When a property is sold, a property information form is completed by the seller(s). This form holds a lot of key information about the property which the buyer is particularly interested in. This is of course if the seller(s) have the answers. The form typically covers topics such as boundaries for the property, connected services, guarantees, planning permission to name a few.

This form, if completed electronically, and the data saved using the PDTF Schema would have great time saving benefits. Solicitors integrated to such a data source, could receive early notification of potential issues when they start their due diligence. One such notification could be around repairs requiring supporting certificates.

Lenders integrated with such a data source would have the capability of assessing risk on an individual property basis and reduce losses.

Having such a data source allows for various analytics and trends could be identified which currently are near impossible to gather.

Using the PDTF Schema gives parties to the transaction a unified way to pass data, decreasing the costs of integration and significantly improving visibility for all parties involved.