Property Sourcing

Property Sourcing.


Property Sourcing.

We have years of experience in the property industry, buying, selling, buying at auctions, full refurbishments, legal complexities for example and we understand that every investor and client is different, each has their own specific requirements in terms of budget, area, type of investment or property and amount of time and energy they can dedicate to finding an investment or property and that is why we offer this service.


We believe that in sourcing property as in all of our business interactions, transparency and honesty speak for themselves.


So I think the simplest way to show what we can assist with is by showing below our sourcing agreement that explains everything.


Please email  chris@sisproperties.com if you wish to arrange an appointment to discuss a brief or have any questions on requirements you may have. Everything we do starts with a conversation about what you want and that costs nothing.


1. SIS Properties Ltd agrees that it will provide the following services to the Client :‐


  1. (a) Discuss and agree an investment brief in detail with the Client.
  2. (b) Locate properties suitable for the Client’s investment brief. Each property will then be visited and a report provided including the following matters:
  3. (i) Photographs of the property.
  4. (ii) A detailed description of the property and the area in which it is located.
  5. (iii) An assessment of the letting potential of the property including anticipated rent and resulting yield.
  6. (iv) A preliminary estimate of the likely cost of repairs in advance of obtaining a detailed survey report.
  7. (c) Negotiate the purchase price with the seller/sellers agents and agree timescales
  8. (d) Manage the purchase process including the following matters:‐
  9. (i) Where requested by the Client appoint solicitors/financial service provider/surveyors/structural engineers/builders to act on behalf of the Client.
  10. (ii) Liaise with the sellers agents and any or all of the experts mentioned at point (i) above whether appointed by SIS Properties Ltd or the Client directly.
  11. (iii) Update the Client at regular intervals as to the progress of the transaction including advising when to make payment of funds to solicitors or other .
  12. (e) Arrange for refurbishment work to be carried out at a property acquired by the Client subject to the Client providing the necessary funds in advance of the work being undertaken (if required).

  6. (f) Appoint SIS Properties Ltd to act on behalf of the Client after completion and ensure that the property is let and managed as per the instructions of the signed management agreement.


2. The Client agrees to pay the following fees to SIS Properties Ltd :‐


1.  A fee of 1.5% of the property purchase price (minimum £1,200.00) in respect of each property located by SIS Properties Ltd in respect of which the Client agrees to proceed with a purchase. The fee will be payable as follows :‐

2. 50% thereof upon the issue of conveyancing instructions by the selling agent confirming the purchase terms or in the event of a private sale the issuing of a letter by the seller/sellers solicitor confirming acceptance of the Client’s offer subject to formal contract. The remaining 50% payable when the property completes.

  1. The initial payment of 50% of the total fee will be refunded (minus an admin fee of £250) to the Client in the event that the purchase does not proceed due to the Seller withdrawing (unless due to delay by the Purchaser) or an adverse survey report.

  2.  Where the Client requests that SIS Properties Ltd arrange renovation/repair work at a total amount over £3,000 at the property a sum of 10% of the total invoice raised by the builder or other contractor will be paid to SIS Properties for project management fees, in this instance a payment plan will be agreed in advance between the client and SIS Properties Ltd.

  3.  Commitment fee ‐ £1,000. This is a retainer for new clients only. A fee is charged at the start of the search (when the brief is agreed). The search will not start until this commitment fee has been paid.

  1. (ii) Properties will be sourced to match client brief and forwarded to the client over a 3 month period.
  2. (iii) If properties are not found that meet the client criteria then the fee is refunded minus a £250 admin fee.
  3. (iv) If properties that meet the client criteria are identified but the client does not proceed to purchase then the fee is retained (after a 3 month period).
  4. (v) The commitment fee is deducted from sourcing fees for a property which meets the client brief and is being purchased by the client.


3. General Terms and Conditions


  1. (a) SIS Properties Ltd is a member of The Property Redress scheme and where relevant operates within the guidelines issued by that organisation. More information about PRS can be found at www.theprs.co.uk
  2. (b) SIS Properties Ltd requires invoices to be settled in full within 10 days of receipt by the Client. Thereafter interest will be charged on outstanding invoices at a rate of 5% above Barclays Bank plc base rate until full settlement is made.
  3. (c) SIS Properties Ltd cannot accept liability for acts or omissions whether negligent or otherwise on the part of independent experts/contractors such as solicitors, surveyors, financial service providers, and tradesmen etc. whether or not such independent experts/contractors have been recommended to the Client or appointed to act on the Client’s behalf by SIS Properties Ltd.
  4. (d) Clients are reminded that the value of property investments may decrease as well as increase due to a variety of market factors.



 

Share by: