Purchasing your property, a step by step guide;
Whilst we’ve taken every effort to ensure that your purchase goes as smoothly as possible, if you have any questions, call us on freephone 0800 881 8222 and our team will be able to advise you.
1.
Every time we release a new property we’ll send you full details including specifications, plans, costs, rental assessments and other information.
2.
To purchase one of our properties, simply complete the reservation form found on our website then call us on freephone 0800 881 8222. We’ll confirm your plot number and answer any questions you may have. We’ll also hold the plot for 48 hours while we wait to receive your reservation.
3.
Print off the reservation form and sign it before sending it to us along with your reservation fee (Usually £2000). The reservation fee pays for:
Developer deposit of £1000, deducted from the price of the property.
Urban Investor deposit of £1000 deducted from our finder’s fee.
As soon as we receive your reservation fee we will reserve the property for you.
4.
To make the property yours, subject to completion, you will now need to pay the Urban Investor finders fee which is 2% + VAT of the gross property price (minus the £1000 already paid on reservation).
5.
You will need to arrange finance (if you haven’t already) and appoint a solicitor.
We recommend you use the FSA-regulated Urban Finance Centre. They specialise in financing buy to let properties and can answer any questions you may have, including quotes for monthly mortgage payments. Whilst not mandatory, they can help speed up the purchase process and are highly experienced in providing competitive finance solutions for investors.
Our recommended Solicitors can guide you through the legal process of purchasing the property. Again, this is not compulsory, but does help speed things up and ensure a smooth transaction.
6.
The developers’ solicitor will draw up a contract for the exchange between you and the developer. This will be sent to you, after which you will have 14 - 28 days to sign and return this to your solicitor with your deposit (normally 5%). Solicitor’s fees of approximately £800 are now payable for all searches and disbursements.
At this point you are committed to purchasing and the developer is committed to selling your selected discounted property to you.
7.
On completion, you will be required to pay the final bill from your solicitor, and to pay the remaining price of the property.