CA2315504A1 - System for property transactions - Google Patents

Abstract

The invention relates to a method for facilitating transfer of property, in particular real estate, from a seller to a buyer. The method includes obtaining information from the seller about the property and transferring that information to a computer database, where it is stored for later access. The method also includes accessing the stored information regarding the property for review by a buyer to determine the suitability of the property. The method also involves transferring the property if suitable.

Description

SYSTEM FOR PROPERTY TRANSACTIONS
Field of the Invention The present invention relates to an automated system for facilitating transfer of property. The method is intended to provide an alternative for transferring properties between buyers and sellers. Whilst the invention is described with references to real estate property (in particular public housing referred to as "Housing and Development Board" or "HDB" property), it should be appreciated that the method has further applications in other areas of commerce.
Real estate agents are commonly engaged to assist in the buying and selling of properties. Being specialised in the field and having a database of properties on the market, the real estate agent is able to provide value-added services to ensure that the seller finds a suitable buyer at the right price, and similarly, the buyer finds what he is looking for.
However, the existing practice by real estate agents is inefficient, mainly because sellers appoint individual associates (IA) of a real-estate agency to sell their property. The IA will have to manage by himself all the things required to be done to effect and complete the sale. These would include:
1. Filing a listing form with the real-estate agency (which may not have its own listing facility) 2. Publicizing the sale of the property, including advertising in newspapers) 3. Responding to inquiries from potential buyers (PB), mostly by paging 4. Making arrangements with sellers) for PB to view the flat 5. Showing the flat to PB

6. Negotiating the sale between seller and PB and to close the deal 7. Checking PB's eligibility and ability to buy, and explaining to both seller and PB. Then completing the Sale and Purchase Agreement form and related forms and documents, and witnessing the parties signing of the Agreement.

8. Submitting the Sale Transaction Report to the agency to update the Seller Listing and bill the seller and buyer.

9. Before, during and after 1st Appointment at the HDB Resale Office -to guide seller and buyer on action items, like leading them through the various stages during the appointment 10. Before, during and after the 2nd Appointment at the HDB Resale Office, at the completion of the Sale and purchase of the flat, to guide seller and buyer on action items, like leading them through various stages during the appointment and application to the public utilities authorities to transfer the power supply account to the buyer 11. Collecting commission Some of the disadvantages associated with the above process are as follows:
1. the IA will advertise in newspapers manually on a property-by-property basis. If the property is not sold, the same amount of effort is required to repeat the advertisement.
2. the PB will page for the IA. The IA can only respond later.
Depending on the response time, the PB might have gone elsewhere, causing delay and inconvenience to seller and PB. It may even result in losing the PB and a potential loss of the deal if there are competing flats for sale.
3. The IA seldom uses matching of sellers' listing of the agency to which he is associated, as he would give priority to selling his own listing to maximise his commission. Even if matching of sellers' listing is done, it is done manually and on an ad hoc basis.
4. The IA has to travel to the property and return to his base, usually showing only one party or property on each occasion. The travelling time and time looking for parking can waste quite some time if traffic conditions are not good.
5. There is seldom any check or verification made on the PB prior to the viewing. Where the property is not suitable to the PB, time is wasted on unnecessary viewing of the flats.
6. The PB can only view one property on each occasion with an IA, instead of being able to view more than one property at the same time.
7. The IA has to personally check on PB's eligibility and ability to afford the property, and explain the sale and purchase agreement and related matters. If he is trained, experienced and conscientious, he should do a good job. There is a risk that if he is not totally familiar with the subject-matter, it may lead to the application for sale being rejected by the HDB resulting in loss of valuable time and money to Seller and Buyer.
8. The IA has to complete the Sale Transaction Report, for which much of the particulars to be filled are the same as the Sellers' Listing, which has already been done before.
9. On each appointment, the IA incurs much travelling time to the HDB
Resale Office to serve only one case. Often, there could be 2 IAs involved, such as where there is co-broking. Hence, a lot of time is incurred on the roads, waiting for the appointment with the HDB
Resale Officer, etc.
In general, the IA is required to perform a substantial number of administrative tasks that could be more efficiently performed by administrative staff specialised in particular tasks.
It is an object of the invention to provide a method for facilitating transfer of property.

According to the invention there is provided a method for facilitating transfer of property from a seller to a buyer including obtaining seller information including the particulars of the property to be transferred;
storing the seller information on a computer database;
accessing of the seller information from the computer database at the direction of the buyer to determine the suitability of the property to be transferred;
and transferring the property if suitable.
It is preferred that the seller information includes personal particulars, address of property, selling price, valuation price, property type, orientation of the property, floor area, condition of property, property age, selling points, photographs of the property.
It is further preferred that the seller information is obtained by a Customer Services Officer and transferred to the computer database by the Customer Services OfFcer and/or an Integrated Computer System Coordinator.
It is preferred that the method include explaining the process of transferring the property to the seller in conjunction with obtaining the seller information.
It is further preferred that the method include confirming the property is available to be transferred, generating an advertising report using the seller information stored on the computer, and forwarding the report to an Advertising Coordinator for advertising in newspapers and on the Internet.
It is further preferred that the method include instructing the seller on how to present and show buyers the property.
It is further preferred that the method include accessing of the seller information by an Automatic Call Distribution Phone System Operator directly from the computer database, and transferring the seller information to the PB.
It is further preferred that the method include obtaining buyer information including the particulars of the type of property that they would consider suitable;
storing the buyer information on the computer database; and matching suitable particulars from the seller information with suitable particulars from the buyer information.
It is further preferred that the buyer information includes personal details, address of buyer, property type, property age, budget, preferred location, special requirements.
It is further preferred that the matching suitable particulars step uses the computer to periodically compare the buyer information and the seller information and automatically advise a Customer Services Operator of the matched information whereby the Customer Services Operator can arrange for the buyer to view the sellers property.
It is further preferred that the method include execution of a purchase agreement where both the buyer and seller have agreed to transfer the property, forwarding the purchase agreement to the relevant authorities to approve the transfer of the property and informing the computer of the executed purchase agreement which indicates the non availability of the property to be transferred.
It is further preferred that the method include generation of an accounting report for an Accounts Manager for facilitating forwarding of accounts to the seNer and/or buyer in response to the execution of the purchase agreement.
It is further preferred that the relevant authorities include the Housing and Development Board of Singapore who will advise the buyer and seller of a first appointment the details of which will be transferred to the computer to enable generation of a report for a Customer Services Assistant to attend the first appointment.
It is still further preferred that the method include inputting the details of a second appointment into the computer for generation of a report for the Customer Services Assistant to attend the second appointment.
It is still further preferred that the method include removing the seller information and buyer information from the computer database after the property has been transferred.
The invention aims at improving the access to information required during the process of transferring property. Furthermore, the invention aims to automate a number of the steps involved in the process. The computerised system adopted enables a large number of transactions to be processed automatically and allows for the optimal allocation of resources allowing for division of labour for real estate agents and the ability to provide better and more efficient service at a reduced cost to customers.
The invention strives to introduce technology to enhance human resource, enable specialisations in the selling process, increase productivity, serve customers better and reduce the costs, expense and effort of selling and buying properties.
Although the principles of the invention are applicable to the selling of HDB
properties, private sector residential and commercial properties as well as renting of residential and commercial properties, for convenience, the embodiment of the invention herein is discussed only in relation to HDB properties.
It will be convenient to hereinafter describe the invention in greater detail by reference to the accompanying drawings which illustrate, the method steps involved in the invention. The particularity of the drawings and the detailed description of those drawings is not to be understood as superseding the generality of the claims defining the invention.

Figure 1 is a flow-chart of the steps involved in a conventional sale of property.
Figure 2 is a flow-chart illustrating an overview of the present invention with focus on the "Sellers' Listing" aspect of the invention.
Figure 3 is a flow-chart illustrating an overview of the present invention with focus on the "Buyers' Listing" aspect of the invention.
The following detailed description of the preferred embodiment of the invention is for the purpose of illustrating the invention, relating to the embodiments which are presently preferred. It should be understood, however, that the invention is not limited to the precise arrangements and instrumentalities shown. The terminology used herein is for convenience only and is not to be taken as a limitation on the invention.
Figure 1 is a flow-chart showing an overview of the steps involved in a conventional sale of property. A potential seller ("PS") calls the agent to discuss the selling of his property and appoints the agent. Preparation to sell the property is then made, including preparing and collating information on the property and applying for a valuation report on the property. The steps involved in selling the property, for example, advertising the property for sale, attending to viewing of the property and signing the Offer to Purchase and placing the deposit movies are then conducted.
Thereafter, the sale is closed, and the agent meets the seller and buyer either all together or separately to execute the sale and purchase agreement, which in the case of HDB property, is subject to the HDB's approval. The application is then _$_ made to HDB for the approval of the sale and purchase. The agent's records are then updated and the bill to the seller and buyer can be prepared at this stage.
Two appointments are attended to at the HDB before completion of the sale and the keys to the property are handed over. All or almost all the work to be done in the selling process is performed by the same person.
Figure 2 is a flow-chart illustrating an overview of the present invention with focus on the "Sellers' Listing" aspect of the invention.
The heart of the system is an integrated computer system (ICS) consisting of a processor or central monitoring computer, which preferably includes a relational database. Linked to the central monitoring computer are a number of personal computers (not shown) operated by various persons in the agent's organisation, which act as support systems to the monitoring computer. The principal functions of the ICS are (i) to record and update all sellers' listings, (ii) to record and update all buyers' listings, (iii) to facilitate advertising of flats for sale, (iv) to enable retrieval of listing information for matching between buyers and sellers, (v) to provide management information services, (vi) to perform accounting functions such as billing of customers, incentive payments, commission, and so on.
The monitoring computer receives new property listing information through direct input by the Customer Service Officer (CSO) who deals with the Seller and Buyer, and the Integrated Computer System Coordinator (ICSC) is responsible for maintaining a database of such information. The monitoring computer includes a memory for storing the data received from the ICSC or other users. The information which is usually required for the Sellers' Listing is:
1 ) Name of Seller, Contact Number, Race 2) Address of Property and address of Seller 3) Selling price 4) Valuation price 5) Property type 6) Direction property is facing 7) Floor area 9) Condition of flat 10) Property Age 11 ) Selling points, for example sea view, near public transport, etc.

12) Photographs) of the property The information which is usually required for the Buyers' Listing is:
1 ) Name of Buyer, Contact Number, Race 2) Address of Buyer 3) Property type 4) Property Age 5) Budget 6) Preferred location 7) Special requirements, for example, facing north All the above data need not be included in the information listed. However, in the preferred embodiment of the invention, certain minimum information is required to allow the monitoring computer to perform record comparisons and generate the reports to meet the requirement of the PB. The data entries in the records are typically initially obtained from manual keying into the monitoring computer by a user.
The monitoring computer also includes a data comparator for performing comparisons of the data retrieved from the ICS, in particular, the sellers listing information and the buyers' listing information, and a report generator for providing reports of the results of the comparisons to meet the requirements of the PB.
The memory should be in the form of a direct access storage device, such as a hard disk.
The Reports generated by the report generator are the same as those in the sellers' listing above. Other types of reports desired may be generated by the user based on the data in the memory.
The computer can match the data against any field in the database, most typically, against address of the property and property type. The names of the sellers and buyers and respective contact numbers are generated in the process.
The monitoring computer also includes a Cathode-Ray Terminal (CRT) attached to the processor for allowing a user (mostly the CSO and ACDO) to view a particular piece of information on the CRT display screen. The monitoring computer also includes a keyboard for allowing a user to enter data, request information to be viewed, and interact with the processor. The keyboard is a conventional ASCII keyboard, or the like.
An automated call distribution phone system (ACD), such as the Definity Pro-Logix from Lucent Technologies (which can handle up to 400 lines), is also introduced.
Its principal functions are to facilitate the Automatic Call Distribution Phone System Operators (ACDO) (a) to respond quickly in handling numerous inquiries on flats for sale on a first-come first-served basis, (b) in quality-checking a potential buyer before arranging appointments for them to view flats and (c) in assisting in the listing of buyers.
Upon appointment by sellers to sell their flats, the real estate agency ("agent") will deploy various categories of staff to work on them, each specialised in certain areas) of the selling process. The main categories used in the following description are the Customer Service Officer (CSO), Integrated Computer System Coordinator (ICSC), Advertising Coordinator (AC), Automatic Call Distribution Phone System Operator (ACDO), Customer Service Assistant (CSA) and Accounting Manager (AM). Preferably, the showing of flats to potential buyers, and subsequent negotiations and closing of sale, if any, will be conducted by the sellers, who have already been taught by CSO on how to go about it. Also, the CSO is contactable if assistance is needed.

Sellers' Listing The following description of an embodiment of the invention relating to the transaction system is detailed with reference to Figure 2.
1. The initial call and Appointment of Agent Potential sellers ("PS") call the agent to discuss selling their properties (1 ). The CSO visits the PS, inspects the flat and fills in the listing form containing the details of the property and explains to him the procedure to sell his property (2).
The CSO advises the seller of the selling process including fixing a price for the flat, negotiation with potential buyers and closing of the sale. After being verified by the Customer Service Officer ("CSO") of the sellers' eligibility to sell their flat, the CSO
signs with the seller an exclusive agency agreement, giving the agent the exclusive rights to assist the seller in selling his flat for a period of time, say 3 months. The seller signs the application for a valuation report for the CSO to submit on his behalf. The CSO takes photographs of the property and returns to the office to fill or scan the information into the ICS, the seller listing form having been duly completed earlier (3).
The CSO submits an application to the HDB for a valuation report to obtain the value of the property (4).
The AC then advertises the property for sale using information generated by the ICS (6). The report generated by the ICS for the AC includes district, location and type of property, model for floor area, floor level, direction it is facing, valuation price, asking price and selling points.
2. Sellers' Listing and Buyers' Listing The ICS stores information regarding the buyers' listing and the sellers' listing.
The sellers' listing information is input into the ICS by the CSO or the ICSC.

When a potential buyer ("PB") responds to an advertisement and/or calls to enquire about a property, the call would be routed via the ACD to the ACDO
(7a).
Using the personal computer linked to the ICS, the ACDO accesses the sellers' listing in the ICS (7b) to answer any questions which the PB may have in relation to the property of interest. Other similar properties under the sellers' listing which may be of interest to the PB will also be displayed on the computer screen. At the same time, the ACDO will ask the PB relevant questions to determine the PB's eligibility to buy the property. Through this discussion, the ACDO can determine whether a particular property is suitable to a PB, so that the seller's and PB's time could be used more productively. The ACDO will arrange a meeting between the S and PB to view the property (7c).
Even if there is no property suitable to the PB at that time, the PB is given an option to sign up with the agents to be included into the buyers' listing (see below, in relation to "Buyers' Listing"). If so, the buyer will meet with the CSO and his buying information, such as property location, type, budget are recorded by the CSO. The CSO then enters the information into the buyers' listing of the ICS
(13b). Figure 3 is a flow-chart illustrating an overview of the present invention with focus on the "Buyers' Listing" aspect of the invention.
Periodically, which may be on a daily basis, the CSO or the ACDO will run a computer program on the ICS to match the sellers' listing with the buyers' listing.
The CSO or the ACDO will then contact matching PBs and PSs with a view to setting up viewings of properties, which may lead to closing of the sale of properties.
3. Preparation fo Sell the property The seller will pay for the costs of the valuation report, advertisements for selling the property and a non-refundable deposit which will be offset from the commission fee if the flat is sold. If a sale and purchase agreement is signed, he will pay the administrative and other fees charged by the authorities and a commission to the agent.
The CSO will co-ordinate with the seller and buyer and follow-through with the selling process until completion, during which he will also be available to them for consultation. He will also teach the seller to dress up the flat for showing, to show the flat to PB and to negotiate with PBs.
The ICSC will coordinate the support services in selling the flat, including listing of buyers and sellers, matching and updating of information.
The AC will coordinate advertising of flats for sale in the media which will be included in newspapers and Internet web-sites.
ACDC will ensure that (a) all incoming calls are attended to quickly, (b) matching and appointments for viewing of flats between seller and PBs are made after quality checking of PB, and (c) assist in listing of buyers in the ICS.
PBs enjoy a faster response time and convenience to their inquiries as ACDO
will answer all inquiries on the spot based upon updated information in the ICS, instead of the usual practice of having to page for the IA and wait for a return call.
Also, the ACDO can, through matching, schedule two or more flats for PBs to view on each occasion, increasing the probability of closing a sale earlier.
4. Selling of Property The role of the seller would be to show PBs the property and inform the PBs of the facts related to the property. He will highlight the selling points, answer questions and clarify doubts that the PBs might raise. If necessary, he will negotiate with the PBs (8).
If a PB and a seller agree to purchase and sell at an agreed price and relevant terms, seller will get the PB to sign an Offer to Purchase, accept the deposit money from the PB and make an appointment with the agent (CSO) for signing the Sale and Purchase Agreement (8a).
If the showing does not end with an agreement to sell and purchase, or if the PB
is interested but is unable to make up his mind, the seller should end the showing with an understanding that they will follow up with the matter later. If subsequent follow-ups result in an agreement to sell and purchase, they will arrange to meet with the CSO to formalise the sale, including signing the Sale and Purchase Agreement (8a).
5. Closing of Sale 1. The seller and buyer will meet at the agents' office to execute the agreement.
2. CSO will check the buyers' eligibility and ability to purchase the property.
3. CSO will explain to seller and buyer the Sale and Purchase Agreement, related forms, and duly fill the relevant forms for their signatures. Also, they will agree on a date for submission of applications to the authorities for approval to sell and purchase the flat.
4. CSO will sign as witness and agent representing the parties. He will advise on what supporting documents are required for the seller and buyer.
5. CSO will explain to sellers and buyers the main stages that follow in the sales process and what they must do.
6. If a sale is closed, the CSO is to process and submit the sale and purchase agreement together with the relevant supporting documents to enable the authorities to consider the application (9).
With the CSO specialising in this area, the quality of submission of the sale and purchase agreement and supporting documents will be better, the need for correction at a later stage reduced and thus smoothening the remaining steps of the selling process.

6. Application to the HDB for Approval of Sale and Purchase The CSO will guide and assist the sellers and buyers on related matters throughout the selling process, including attending to the first and second appointments with the HDB resale officer.
1. The application together with the copy of the Sale and Purchase Agreement and relevant supporting documents are submitted to the authorities on an agreed date (9).
2. CSO will request seller and buyer to copy to the agent the HDB's letters informing them of the first and second appointments when received.
Informing the CSO of the first appointment is not necessary if submission of the application is via computer link with the authorities, which is made at the agent's office.
3. CSO will brief and schedule CSA to provide assistance during the first and second appointments at the HDB (10b,12b).
7. Sales Update 1. CSO will complete the sale report form and update the relevant files in the ICS, including sellers' and if applicable buyers' listing, accounting, billing and other relevant files (9a).
8. The First Appointment 1. Before the appointment, the seller must prepare the property for transfer to the buyer, which will include rectifying any unauthorised renovation and fixture. The HDB will inform the S or B on the date of the first appointment.
The S or B will inform the CSO (10a), who will update the ICS and copy the CSA (10b).
2. During the appointment, the CSA will be available to guide and advise the sellers and buyers through the various stages during the appointment (10c).

The HDB's resale officer will brief the sellers and buyers to ensure that they comply with the terms and conditions.
3. After the appointment, the HDB will reply to the seller and buyer to inform them whether their application to sell and buy has been approved, and if so, what are the things the sellers and buyers must do and provide to complete the sale and purchase.
4. The AM retrieves information from the ICS (11 ), bills the seller and/or buyer and collects payment from them (11a,b).
5. Upon receiving notification from the HDB (12) of the date for the second appointment, the seller and/or buyer will inform the CSO (12a), who will update the ICS, with copy to the CSA for his information (12b). The property is then also taken off the sellers' listing and the buyer is taken off the buyers' listing of the ICS.
9. The Second Appointment 1. Before the appointment, buyers will inspect the flat to satisfy themselves that it is ready for handing over.
2. During the appointment, CSA will be available to guide and assist the seller and buyer through the various stages of this appointment (12c). Buyer will pay all outstanding movies to complete the purchase, transfer legal title of the property from the sellers to the buyers, and sellers will hand over the flat's keys to the buyers. The seller will receive the full payment for the sale of the flat.
3. After the appointment, the buyer and seller will apply to the public utilities authorities for the subscription of water and other utilities to be transferred.
Buyers' Listing Figure 3 is a flow-chart illustrating an overview of the present invention with focus on the "Buyers' Listing" aspect of the invention. The steps involved in the use of the Buyers' Listing are as follows:

1. Retrieval of information The CSO retrieves the records on PB from the ICS. The records were previously input by the ACDO from respondents who responded to advertisements on properties for sale, and who had yet to purchase properties (13b). The CSO
speaks to and meets the PB (13a). The CSO signs with the PB an exclusive agreement to assist in the purchase of a flat for the PB and complete the Buyers listing form which is then inputted into the ICS (13b). The PB could also call the CSO through the telephone or via the Internet and meet to sign an exclusive agreement to buy with the CSO.
2. Matching of information The CSO does a matching of the Buyers' and Sellers' Listings and arranges for the Buyer, B to meet the seller, S for viewing of the property (14). If the B
agrees to buy and the S agrees to sell, they will meet the CSO (15), who will check the B's eligibility and ability to buy, explain the sale and purchase agreement, and complete the documentation for the buyer and seller to sign, and then sign as witness.
3. Purchase of Property The CSO will submit the application to the HDB (16), copy the CSA (16b) and update the ICS (16a). The HDB will inform the B and S of the date of the 1st appointment (17). The S or B will inform the CSO who will update the ICS (17a) and copy the CSA (17b). The B, S and CSA will meet the HDB resale officer, and the CSA guides S and B though the first appointment. The AM will retrieve the transaction information from the ICS (18), bill S and B and collect payment (18a,b).
Thereafter, HDB informs the S and B on the second appointment for the completion of the sale and purchase. The S or B will inform the CSO (19a) who _1 g_ will update the ICS (19a) and copy the CSA (19b). Finally, the S, B and CSA
meet the HDB resale officer (19c) and the CSA guides S and B through the completion of the sale and purchase.
As is apparent, the new system described above uses technology such as the ACD and ICS. The new system enables the division of labour resulting in specialisation of knowledge and the optimal use of labour. It also allows large volumes of transactions in sale and purchase of properties to be dealt with systematically, effectively, expeditiously and provides better quality customer service with reduced costs to them.
The invention described herein is susceptible to variations, modifications and/or additions other than those specifically described and it is to be understood that the invention includes all such variations, modifications and/or additions which fall within the spirit and scope of the above description.

Claims (16)

1. A method for facilitating transfer of property from a seller to a buyer including obtaining seller information including the particulars of the property to be transferred;
storing the seller information on a computer database;
accessing of the seller information from the computer database at the direction of the buyer to determine the suitability of the property to be transferred;
and transferring the property if suitable.

2. A method according to claim 1 wherein the seller information includes personal particulars, address of property, selling price, valuation price, property type, orientation of the property, floor area, condition of property, property age, selling points, photographs of the property.

3. A method according to claim 1 or 2 wherein the seller information is obtained by a Customer Services Officer and transferred to the computer database by the Customer Services Office and/or an Integrated Computer System Coordinator.

4. A method according to any one of the preceding claims including explaining the process of transferring the property to the seller in conjunction with obtaining the seller information.

5. A method according to any one of the preceding claims including confirming the property is available to be transferred, generating an advertising report using the seller information stored on the computer, and forwarding the report to an Advertising Coordinator for advertising in newspapers and on the Internet.

6. A method according to any one of the preceding claims including instructing the seller on how to present and show buyers the property.

7. A method according to any one of the preceding claims including accessing of the seller information by an Automatic Call Distribution Phone System Operator directly from the computer database, and transferring the seller information to the buyer.

8. A method according to any one of the preceding claims including:
obtaining buyer information including the particulars of the type of property that they would consider suitable;
storing the buyer information on the computer database; and matching suitable particulars from the seller information with suitable particulars from the buyer information.

9. A method according to claim 8 wherein the buyer information includes personal details, address of buyer, property type, property age, budget, preferred location, special requirements.

10. A method according to claim 8 or 9 wherein the matching suitable particulars step uses the computer to periodically compare the buyer information and the seller information and automatically advise a Customer Services Operator of the matched information whereby the Customer Services Operator can arrange for the buyer to view the sellers property.

11. A method according to any one of the preceding claims including execution of a purchase agreement where both the buyer and seller have agreed to transfer the property, forwarding the purchase agreement to the relevant authorities to approve the transfer of the property and informing the computer of the executed purchase agreement which indicates the non availability of the property to be transferred.

12. A method according to claim 12 including generation of an accounting report for an Accounts Manager for facilitating forwarding of accounts to the seller and/or buyer in response to the execution of the purchase agreement.

13. A method according to claim 12 or 13 wherein the relevant authorities include the Housing and Development Board of Singapore who will advise the buyer and seller of a first appointment the details of which will be transferred to the computer to enable generation of a report for a Customer Services Assistant to attend the first appointment.

14. A method according to claim 14 including inputting the details of a second appointment into the computer for generation of a report for the Customer Services Assistant to attend the second appointment.

15. A method according to claim 8 including removing the seller information and buyer information from the computer database after the property has been transferred.

16. A method for facilitating transfer of a property substantially as herein before described with reference to figures 2 or 3.