FAQs
- Can I use my own Solicitor or Mortgage Broker?
- What if I decide not to proceed with the purchase?
- Can I sell my property when I have completed?
- Is now a good time to invest?
Can I use my own Solicitor or Mortgage Broker?
Due to the structure of our deals and the time related pressures when purchasing discounted properties we always insist you use our Solicitors and Brokers. Firstly, Ellesmere Property Group has negotiated excellent fees on your behalf but more importantly they understand the structure of the deal and the importance of submitting paperwork and documents in a timely fashion to enable you to complete within the timescale's allowed.
What if I decide not to proceed with the purchase?
Unfortunately, Reservation Fees are non refundable as this money is paid direct to the Developer for holding the property for sale.
It is important that you fully consider your purchase before proceeding with your investment property as time delays due to cancellations can seriously jeopardise our relationship with the developer as we only have a short period of time to exchange. Should you withdraw at a late stage it leaves us very little time to find an alternative investor within the allowed timescale.
Can I sell my property when I have completed?
Yes, you are free to sell your property at any time after all it is your investment. However, if you are serious you should really be investing in property for the medium to long-term, as the trick is to gain from year on year capital growth.
Selling your investment property immediately is one way of releasing the equity you have gained from the discounted purchase and it could be used to help fund your next investment. But it is not always that easy to sell a property for the full asking price on new build developments to make a quick profit.
When investors do this its called 'flipping', buying a property at discount with the intention of selling on immediately at the full asking price.
Is now a good time to invest?
From an investment point of view there is never a right or wrong time to invest in property. History has proved that in the long term property prices do rise. However, the best time to invest is when your circumstances allow you to do so without putting too much financial pressure on you.
