Transfer Transformers

# Team 47 Transfer Transformers

## Team Members
1. Aaron Ong (GDP, CEP, DEDIP)
2. Chua Khai Shing (GDP, CEP, DEDIP)
3. Jessie Jiang (GDP, Singpass)
4. Tay Hui Yin (GPE, SIPO)

## Problem Statement
How might we simplify the public & private housing journey for citizens doing their research by enabling efficient financial calculations and personalised recommendations?

Our initial problem statement aimed to simplify the private resale property transaction process by enabling efficient preparation, validation, and e-lodgement of legal instruments. However, the scope was too broad to tackle within the month-long hackathon. Breaking down the problem, we identified multiple root causes from the problem bazaar, but our team faced challenges due to a lack of subject matter expertise. To bridge this gap, we engaged with the Singapore Land Authority (SLA) on 10 Feb, meeting with business owners of the Digital Conveyancing Platform (DCP), which is designed to streamline property title transfers. This discussion helped us address knowledge gaps, revealing that SLA itself lacked complete information on conveyancing, as user journeys varied depending on the persona type. We also learned that the platform would serve ten distinct user personas, but some, such as non-regular Singpass users, posed challenges beyond our hackathon’s scope.

For user research, we conducted interviews with key personas involved in buying and selling private property. Our findings showed that conveyancing relied heavily on estate agents or law firms, yet the core issue stemmed from citizens’ lack of knowledge about the process. This knowledge gap often resulted in suboptimal decisions, highlighting the need for greater transparency and accessible information.

## Solution

We found out property transfer is a painful issue because it’s a tedious process that does not have information readily available and due to subjective terms and conditions.

Our proposed solution to the lack of information involves pulling the relevant information from Singpass database where possible and using user inputs to determine the following:
(a) financial calculations for the user (buyer/seller) in terms of property valuation, mortgage, loan calculations; and
(b) the next steps recommended for the user through information or recommended process steps.

## Impact and Outcomes Analysis
Our progress indicator integrated to the planned web form with step-by-step guide addresses the information gap with little friction, provides live update at each step

Our budget calculator at the different stages of the process enables the user to calculate hidden fees and expected charges for conveyancing.

In terms of cost savings, the user is able to pay merely for the process of conveyancing to the conveyancing agent or law firm (where the conveyancing agent works).
In terms of impact, the user moves from a state of opaque information on conveyancing, with over-reliance on estate agent and law firm to a state where the user has a step-by-step guide with relevant information and self-service calculations.

## Future Steps

1. Integration with existing web form on Singapore Land Authority’s (SLA’s) Digital Conveyancing Platform (DCP)
2. Additional information on the conveyancing journey (iterative to ensure no loopholes or information gaps)
3. Option to integrate the budget calculator with MyInfo data
4. Expansion to the legal paperwork (different target persona of lawyer and conveyancing executor)

## Cover image