Once I have had a look at the various properties on offer and I have made a decision to go ahead, what should happen next?
- Contact us straight away so that we take down your details and requirements. We will then post you a copy of our 'Terms and Conditions' which needs to be signed and returned before we can release details of our fantastic property deals!
- On receiving your completed 'Terms and Conditions' we will contact you to answer your questions and give you a clearer and more detailed picture of what is available.
- The property investment specialist that is dealing with you will discuss your plans, bjectives and help you to choose the property that suits you and your requirements best.
- Once you have decided on the property you wish to purchase then you will have to complete and sign the developer's 'property reservation form' and return it along with a cheque for the reservation fee which normally falls somewhere between £500 and £2000. However, this figure always depends on the developer in question. We will of course instruct you on who this payment has to be paid to when you have made the commitment to eserve.
- Midas fees are now due at 3% + VAT and should be paid by cheque to the nominated conveyancing solicitor who will hold the cheque until contracts have been exchanged on the purchase. Once exchange has taken place the funds will be released to Midas Estates by the conveyancing solicitor.
- As a matter of course Midas Estates will offer services of both mortgage broker and solicitor. We will do this because it helps us to facilitate a smooth and stress free buying experience for you. However, if you so desire, you are perfectly at liberty to instruct your own mortgage broker and solicitor.
- We will then make your nominated solicitor is instructed accordingly and you will then be contacted by them to explain the legal process that applies in this case.
- This is also where you will have to pay the local search fees which normally come to around £250. We will then get a mortgage broker to contact you (if you aren’t using your own contact) and help you to obtain the very best mortgage product for your particular requirements. This process can be completed by post, phone or where applicable even a personal meeting.
- You will then received a reservation deposit request letter (usually within 28 days of reservation) and this figure will be dependant on the percentage and structure of the particular deal.
- EXCHANGE OF CONTRACTS – You now have a nominated solicitor working for you and you have committed to purchasing your discounted property. The developer is also committed to selling the property to you at this stage.
- COMPLETION – Just before you complete on your purchase you will receive a bill from your nominated solicitor. This will be for their work, stamp duty and brokers fees etc.
- You can now either let out your property or arrange to sell it for short term fast profit. The decision is yours but Midas Estates is available for advice.
You may consider the benefits of joining Midas Estates as an annual fee paying member (especially if you are looking to build a solid long term financial future and need expert guidance every step of the way). In fact our motto is ‘We hold your hand the whole way’, call us NOW and ask us why.
*Note – Some Investment deals may vary in structure .
