FAQ's

Where do you buy properties?

We will make a guaranteed offer on any property, land or building in the East Midlands or within 30 miles of our Head Office. Outside the 30 miles radius we will consider any property, land or building and in most cases we can make an offer within 72 hours.

Do you need to arrange to inspect the property internally?

No.We are prepared to inspect the property externally and make a formal offer subject to an internal inspection.

On some occasions, where the situation is justified, we can purchase without an internal inspection, such as where the property may have tenant problems.

If my property is in the East Midlands, how long does the guaranteed offer take?

Once we have spoken via phone and confirmed the property details, we will carry out the appraisal in-house and are usually able to come back to you with a formal offer within 24 to 48 hours.

In many cases we are able to give you an indication as to what our offer is likely to be during our initial phone discussion.

How much will you offer me?

We believe in being honest and truthful at all times. The discount we normally apply is approximately 20-30% off the current market value of your property, land or building dependant on market conditions.

This can be more or less depending on the location, value, condition and whether the property is tenanted or not.

What happens to my property, land or building when the Land and Property Bank have bought it?

With so many properties, we treat them all on an individual basis. Some properties are retained by us for our own investment portfolio; others maybe renovated for resale, or simply resold in their current condition.

Do I need to move out straight away?

Yes you do but we do have properties you could move straight into.

Do I need a Solicitor?

Yes.
If you do not have a solicitor we can recommend one and where required we will even pay your agreed legal fees on completion.

Is there a charge for valuations and are there any fees, charges or hidden costs?

No.
There are absolutely no charges whatsoever to You our service is absolutely free.If you decide to sell to us then you will incur charges on abortive sales.

Will anybody know about the sale?

No.
We believe in 100% confidentiality. Any discussions are in the strictest confidence and in no way will we ever erect a "sold" or "acquired" board while you are still living at the property unless agreed in writing before hand.

If repossession proceedings have been issued, can these be stopped?

Yes.
In most instances the lawyers will speak to the mortgagees and arrange for any loans to be repaid and proceedings halted.

Are there any types of properties that you do not purchase?

No.
We purchase all types of properties, including commercial, land, farms, and those with sitting tenants, in any condition, vacant or rented. Even those with planning, legal, tenant or structural problems.

Charges

If a sale has been agreed, solicitors are instructed and you subsequently pull out of the sale for whatever reason, please be aware that you will be responsible for your own legal costs. (ask for further explanation if required)

Agents' and Advisors' introductory fees paid.

Are there any risks with using your service?

None at all, except for the fact that the property will be bought at a below market value figure.

How do I know that any debts will be paid off?

All secured debts will have to be paid off from the purchase monies by your solicitor. As long as you are honest with us about your mortgage and any other secured loans. We will confirm whether our offer will discharge these or not. In respect of unsecured loans / and or credit cards, we would always advise these are repaid. Unless you tell us about these, we will not be able discuss with you.

What do I do if I want further advice?

We suggest you discuss the matter with a solicitor / friend or the local citizens advice bureau or you could even speak to one of our competitors.