We set out to make property purchasing transparent and fair and the same applies to our fees. To give our clients peace of mind these fees are also paid in three stages and we offer a 100% fully refundable guarantee of the initial registration fee if you are not satisfied with our service prior to accepting a property or you are unable to obtain a buy to let mortgage, if you require one.
To purchase an armchair property investments property you pay a 20/25% deposit based on the current RICS valuation plus total purchase fees of £4,985.
..........These are the 3 fee payment stages:
..........1. £485 To register as an Armchair Investor
........... .2. £4,500 After mortgage survey of an Armchair Property
......... 3. 25% Deposit Immediately prior to property completion
These fees are required because of the amount of work that we undertake for individual clients and legal fees charges which are part of any property transaction. All of our properties are sourced 'to instruction' and once you register as an Armchair investor we discuss your property investment strategy and compile a detailed list of your property requirements.
Our £4,985 sourcing fee includes 'all of your purchase costs' i.e. mortgage broker fees, valuation fee, legal fees and disbursements, purchase administration fees and our finders fee.
These fees normally amount to c£2,500 which means our sourcing fee is actually only c£2,495 and your cash investment to buy a £75,000 property is just £19,985.
We would normally expect to source and offer you a property within four weeks.
When you are offered a property you will receive very comprehensive details view property examples by clicking but you are under no obligation to accept a property. If you 'pass' we will continue to source and offer property until you are 100% confident to proceed to purchase.
If you accept a property we will set the steps in motion, you will then talk to our broker to arrange a mortgage.
If you receive a DIP (decision in principle) from the Lender the property will proceed to valuation by a RICS valuer selected by your Lender.
If you are satisfied with the valuation report - and decide to proceed to purchase - it is then that you pay the fee balance of £4,500 and the property will then proceed to completion.