Below RICS Value Properties
Pellin Properties focus on finding investable properties along the M1 corridor from Northampton to Watford and west to High Wycombe. We develop our own on-line leads and use lead finders to bring suitable properties into our portfolio for sale to our qualified investors.
We cater for a variety of investor – No money In, High Yield with money in, cash buyers, lease option investors. Each deal can be structured to suit a particular investor’s needs and we work very closely with our investor team to provide exactly what they are looking for. Before an investor commits to take a deal, we explain in detail the structure of the purchase and all costs required to progress it.
Below RICS Value Properties
BRV – Below RICS (Royal Institution of Chartered Surveyors) Value Properties are sourced by our consultants and negotiated at a discount to the RICS valuation through to a signed Option to Buy. Having a RICS valuation provides a true assessment of the property so that the investor has confidence in the amount of equity they will achieve in their purchase.
Typically, most of your deposit will be paid for you through a creative finance scheme meaning that you tie up less money in the property. This provides a good means to acquire a positive cash-flowing asset with good equity or an opportunity to sell on to realise a profit.
Costs of purchase would include:
- Reservation fee payable up front to reserve the deal
- A packaging fee depending on the deal that should be paid within 48 hours of reservation
- Fees to solicitors, bridging costs (if required), broker and valuation costs, stamp duty (if app)
- Any deposit monies required
An average total cost of under £7000 is expected for this type of purchase
We will manage the transaction for you to ensure that all paperwork is completed by all parties in a timely fashion and that any questions or problems are dealt with quickly by the appropriate parties. We will recommend specialist solicitors, mortgage brokers and finance specialists to work for you. Should the deal fall through, due to no fault of the investor, then a full refund will be given. The investor should ensure that they are able to progress the deal before they reserve it as the lack of mortgage facility or a change of mind is not an acceptable reason to request a refund.
Can I view the property?
Most investors do not ask to view the property. We will provide photographs and the RICS valuation so that you feel comfortable with your decision to purchase. As you get nearer to completing your purchase, we may be able to make arrangements with the vendor to gain access.
Where might I find a tenant buyer?
There are a number of websites that focus on tenant buyers. If we can help you, we will.
This is my first Buy to Let purchase and I am unsure of my obligations?
We are seasoned landlords and can help you with advice on your legal obligations and your obligations to your tenants. On the other hand, we can manage the property for you to ensure that you get the best from your investment.