Our code is set out in detail below. We pride ourselves on meeting all the standards set for us, whether these are set by The Property Ombudsman or us. We regularly review our processes, systems and performance to make sure that we continue to do the things we say we will.
The code of practice is intended to be as clear and useful as possible. It intends to:
● describe the service we offer so you can decide if it is right for you.
● explain the stages of our buying process.
Our Service
We purchase residential properties in England and Wales. The key features of our service are:
● We buy direct with our own cash funds. We do not broker sales.
● We are able to buy quickly or at the vendors timescale.
● We do not charge any fees or commission.
● We do not use tie-in or option agreements.
● We do not require you to use our solicitor.
Our service is generally suited to sellers who are looking for the convenience of a quick and hassle-free sale rather than achieving the highest price - we always purchase properties below market value.
Timescales
It is important that you let us know if you need/would like to sell by a certain date - if for any reason we view your target date as being unrealistic we will let you know.
Whilst a key feature of our service is to purchase properties quickly, there may be factors that cause a delay to the purchase. Factors that may affect the timescale include, but are not limited to: delays gaining access to the property, responsiveness of our respective solicitors, requirement to raise additional legal enquiries, delays in receiving responses to enquiries, time taken to consider any new information that may change our opinion of the value of the property.
Where any delays become apparent we will let you know about them and provide you with updated timings if necessary. Where a survey or searches indicate that further investigation is required we will notify you of the delay and reasons within 24 hours.
Before we instruct a formal valuation or survey we will require our solicitor to have carried out an initial review of the contract paperwork supplied to him by your solicitor. It is therefore important for your solicitor to promptly send all relevant paperwork to our solicitor.
Valuations and Offers
Our valuation and initial offer will assume your property is in a fair state of repair (unless we are told otherwise). If there are any issues that you believe will affect the value of the property it is important that you let us know about them as soon as possible. Our initial offer is usually only based on a desktop appraisal - looking at comparable property sales in the local area and the information you provide to us. Research used to form the initial offer may also include an inspection of the property. For this reason the initial offer is an approximation and is likely to change if later research identifies any factors affecting the value of the property.
Our offers are subject to contract and subject to survey. Therefore our offer price may change or our offer may be completely withdrawn. Factors that may affect our offer include, but are not limited to: restrictive covenants, limited right of access, no planning permission, no building regulations, onerous leasehold terms, short leasehold, excessive service charges, onerous contract terms, un-mortgageable properties, buildings with part-commercial use, structural concerns, material change in market conditions, factors affecting marketability of the property, adverse searches, non-standard construction, tenants and regulated tenancies.
We will confirm our offer price in writing within 3 days of our completed research (receipt of formal survey/valuation and/or other information including receipt of searches and all legal matters satisfied). The confirmed price will be offered to you for a limited amount of time and other conditions may be applied, these will be communicated to you at the time. We reserve the right to terminate the purchase of the property.
Nothing in this code forms part of any contract between you and us.