What can go wrong?

We feel that if you’re upfront with people from the start then you’ll have a solid foundation from which to grow a long lasting relationship. Not every deal will go smoothly, despite best efforts, so here’s a bit of information about what can happen.

You pull out of the deal

We do not put any of our customers under any pressure at any time. You’ll get no hard sell from us. One thing that can happen from time to time is that people’s situations can change and people can get cold feet. There are many different reasons for a deal to fall through at the last minute.

You are more than entitled to change your mind, and this won’t cost you anything unless we’re well into the purchase process. It is only when the deal is set up, and valuation reports/solicitors fee have been paid for, that we would ask you to contribute to the cost of the deal

Once the deal is set up, if you do feel that you’ve changed your mind and would rather walk away, all we ask is that you cover the cost of the valuation fee. This is usually under £300 and will only ever arise if you pull out once we’ve paid for all the legal fees and searches needed to arrange the deal.

It hurts us as well – we foot the bill for your legal fees and we won’t charge you anything for the time and resources we’ve spent behind the scenes.

Why? - unlike other property companies we don’t charge anything up front, so we feel it’s only fair to split the cost of the transaction a little bit if you pull out in the final stages. We respect your decision to walk away late in the day, but in return we ask that you respect that your actions by that stage will have likely cost us over a thousand pounds in fees.

It’s important to stress that we don’t benefit from the valuation fee whatsoever. The fee goes straight to an independent RICS qualified chartered surveyor.

The valuation comes back lower than expected

From time to time the valuation can come back and be significantly different to what was expected. Generally this will mean we will need to adjust the figures, but in a minority of cases it can render the deal unworkable.

In most cases a variation of the valuation will simply mean that the offer is adjusted accordingly and the deal goes ahead at the new figures. This of course depends on both of us agreeing to the new deal. A lower valuation may mean that the adjusted offer is below your requirements.
This scenario can happen and is an unfortunate industry hazard. If you don’t wish to proceed with the new deal then you are free to walk away and we will pay all costs incurred, including the valuation fee.

A lower valuation may mean that a deal that worked at the expected price now no longer stacks up at the adjusted figures. We would inform you as soon as possible that this is the case and again we would pay all costs incurred.

The valuation finds a hidden problem

Sometimes during the process we unearth a serious structural problem with a property. This doesn’t necessarily prevent us purchasing the property, but it will affect the offer we make.

If we come across something that renders the deal unworkable we will inform you immediately and pay the costs incurred.

You want to alter the deal

If at any point you wish to alter some of the terms of the deal, we are more than willing to negotiate additional clauses at any stage. An example is adding in a buy-back agreement. We will work with you to reach an agreement that suits both of us. We’re flexible by design, so don’t feel that things need to be set in stone forever. Even if you’re circumstances change down the line, you can always talk things through with us to see what can be done.

Give us a call today on 0191 256 0052 or contact us here and receive an offer within days!

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“Thanks for making a difficult decision easier to make. Well explained and very quick to say what deal could be done and by when”

Mr D

“Great service and couldn’t have been happier with the way everything was handled.”

Mrs T