Consultation with an REW Property Expert
Free and no-obligation. In a telephone conversation or a face-to-face meeting your property expert will ask you a few key questions about your goals and your short-and long-term plan. From this conversation they will know if one of our current property investments will be a good-fit for you. If you are in the research stage, they’ll supply you helpful articles, how does it work guides and information on any type of property investment you are considering.
Property Investment Match
You’re at the stage of knowing what type of property investment will achieve your goals, it’s now finding exactly the right property/investment model: financial forecasts, comparisons and due diligence with your Property Expert are fundamental and if needed we can arrange a viewing of the development site (off-plan) or property (completed).
Secure and reserve your property
You have chosen your property: to take it off the market all property investments require a Reservation Fee – normally £5,000 or less paid directly to the developer (seller) and a Reservation Form which is completed and duly signed. It includes personal details, property details, terms of sale, solicitors’ details and T&Cs. These will stipulate whether the reservation fee is refundable and the time frame the two parties’ solicitors have to exchange on the property.
Dedicated sales progression
Once you have completed your reservation with your Property Expert and the fee and form has been sent to the developer our REW customer-care department take over. They will contact you directly and also engage with both solicitors to ensure the exchange process has started and this will continue throughout the 28 days – tracking the progress of your sale and ensuring the communication between solicitors is fluid and the exchange date is met.
Hassle-free 28-day exchange of contracts
This is the standard time-frame with Purpose-built Student, Residential and Care-Home – project dependent it can be 21 days. This is designed to work in both parties best interest, especially if the project is sold off-plan and Buyer-Funded – which is the most common investment model. It means you will be earning interest sooner rather than later on your deposited funds and the development company is adding to its cash-flow for the project.
Regular construction updates
If your property is in construction our REW customer-care department will send you regular construction updates on how your property and the project is progressing during the build phases –depending on the development company these may be sent monthly, bi-monthly or quarterly.
Completion of property purchase
You will know from your regular construction updates when your property is nearing completion. A month or so before, both parties’ solicitors will engage and a Completion Statement will be prepared detailing the completion balance and Notice to Complete; the date you have to complete by. Our REW customer-care department will also be in contact regarding viewing your completed property. Once you have completed your solicitor will register your property with Land Registry.
Introduction to your Property Management Company
Your property management company will be in touch to introduce themselves and supply you with relevant information on how they will: run the building, tenant the properties, specifics on your property and the rental agreement, including asking you for bank details to pay your rental return.
Resale: you can sell at any time
You will have a number of channels to go via, either ourselves at REW, any local agent or specialist agent and you could even offer your property back to the developer. Your contracts will be assignable meaning you can sell during the assured rental period or after, once your high-yielding asset has been running operationally for a number of years.