My team and I will conduct a ‘Destop Valuation’, which entails calling three agents, two Estate Agents, and one Letting Agent. This is to get a ‘ball park’ figure on values and rentals in the area. Typically this usually takes about two hours in total – depending on the speed at which agents get back to us.
Once we have established a ‘guesstimated’ figure we will come back to you to discuss the price. Our offers are based on Rental Yields and typically we are looking for 10 plus on residential properties. We also take into consideration:
- Age of Property
- Condition of Property
- Tenancy
- Tenant
- Location of Property
- Area Demographics
- Potential Future Rental Incomes
Once we have established a price, an email and offer letter will be sent to you. On confirming the email or signiing the offer letter, panel solictors will be instructed and a solicitor selected to work on your behalf. As we pay all legal fees, survey costs, and an administrative costs – we have pre-negotiated fees with third parties.
Contracts will be sent and at this stage we start the valuation process, we do not use mortgages to buy – which means speedy completions, typically four to six weeks.
At this stage we may need access to the property, but always under the guise of an ‘Insurance Valuation’, so as not to cause concern to the tenant. This is usually to determine the condition of the property. If there are any issues at this stage we will discuss them with you. At this stage we should be entering the completion phase. We will keep you informed through out the process, so that you know what is happening at each stage of the process.
I look forward to working with, if you need any further information please do not hesitate to call me.