Gazeal
Gazeal is a new system for property sales, which binds both parties when they are ready to agree a deal. Neither side can walk away, or move the goalposts. This new process eliminates gazumping.
In England & Wales, an agreement to buy or sell a house is worthless until Exchange of Contracts. Until then, it is not legally binding. The conveyancing process takes weeks, and while the solicitors do their checks, problems arise.
Gazeal protects both sides by putting the Title into Escrow pending Exchange. It’s like holding a Title in Trust, subject to the terms of your deal. While the Title is in Escrow, it is verified with your solicitors against rigorous checking standards. If it passes, Exchange happens automatically. On successful Title Verification, the buyer immediately benefits from Title Insurance.
| Product | Technology EIS |
|---|---|
| Sector | Housing Technology |
| Aim of funding | Growth |
| HMRC Advanced Assurance received | Yes |
| Envisaged investor exit | 4-5 years |
| Targeted return | In excess of 4x capital invested |