Seller FAQs

“Set peace of mind as your highest goal, and organize your life around it.”

– Brian Tracy

“It's not the load that breaks you down, it's the way you carry it.”

– Lou Holtz

Simplified: Would you be interested in renting your property on a long-term let for between 3 to 5 years?
Would you be interested in selling the property to me at some point in the future?
If the answer yes to both of these questions, then there is a good chance that PLO could work.
Now it just comes down to a matter of negotiation around the purchase price, the length of the option and the monthly payment.

Yes, absolutely! They are legal. They’ve been used in English law for many years
A lease option agreement is always drawn up by a solicitor. 

We only do things lawfully, solicitors are always involved in our business transactions.

Yes, you must engage a solicitor, as one solicitor cannot represent us both. This would be considered a conflict of interest. Our  solicitors independently will need to process the paperwork, once we put together an initial Heads of terms, (HOTs) which are the details of the deal we have agreed. 

We only do things lawfully, solicitors are always involved in our business transactions.

In short yes, 

The process to get to the point of a contractual agreement :

  • Heads of terms HTO’s is initially drawn up, which is a document which sets out the terms of a commercial transaction, agreed in principle between parties in the course of negotiations which we both will sign.
  • It will contain all of the main elements of the deal in writing, which can then pass on to your solicitor, so that they can build the lease option agreement around it.

A typical heads of terms will normally include :

  • Full Address of the property on lease option
  • Sellers full name, address and contact number
  • Details of the seller’s solicitor’s (we can pay for your solicitor)
  • Buyer’s (your) full name and address
  • Buyer’s (your) solicitor’s details
  • Option consideration and on the option purchase price
  • Term of the lease option (Usually in years)
  • Lease payments (Usually a calendar month amount
  • Responsible for maintenance (Usually the buyer)
  • Responsible for decoration (Usually the buyer)
  • Responsible for insurance (Usually the buyer)
  • Who pays the expenses / utilities (Usually the buyer)
  • Rent free period (If you agreed any)
  • Permitted use of the property (Usually for rental)
  • Termination criteria, which is usually a number of month’s notice for the buyer to the seller to cancel

Purchase lease options support lends itself and is not limited to:

  • Properties in negative equity
  • Properties on the market for a long period of 6 months plus
  • Cash only properties that need a lot of work
  • The property may be in disrepair due to lack of funds
  • Tired landlords that want to offload properties
  • Sellers that cannot achieve their desired asking price
  • Sellers that have properties up for sale and let
  • Unmortgageable Properties
  • Difficult Probate Sales with Tumultuous circumstances
  • Distressed sellers that do not need money right now
  • The seller is affected by unfavourable conditions that often force the sale as a result of mortgage arrears, with the prospect of repossession.
  • The seller urgently requires cash to settle debts,
  • A drastic change in life status,
  • The property may be in disrepair due to lack of funds

Yes, we will guarantee monthly Mortgage payments for the agreed period (via a monthly lease payment).

We would immediately place our pre-qualified tenants in the property under an Assured Shorthold Tenancy (AST) Assured tenancy. Regulated Tenancy.

No, you cannot, once you have signed the agreement, the contract is drawn up by a solicitor and is legally binding.

When drawing up the agreement we will discuss and negotiate everything before the final contract is drawn up by our solicitors, however, the norm is that We will pay any agreed fees or costs. We will refurbish the property if required and would be responsible for all repairs, maintenance and bills including council tax and general upkeep, this would Include insurance, and keeping up to date with the various EPC and gas safety requirements (unless otherwise agreed).

It very much depends on your property type, number of rooms, location etc
It could be an HMO (Shared accommodation) for over 55’s or professional let
Shared Accommodation HMO (under 5 tenants) no licence Required
Shared Accommodation HMO (5 over 5 tenants) licence required. 

Holiday lets/Serviced accommodation. 

This is something we would quickly decipher one we have seen your property

Whatever your reason for needing to sell or offload your property we can guide you through the options and help you decide what is genuinely best for you based on your situation.

You would receive guaranteed income stream without the usual risks and hassles associated with renting out a property.

Yes Rent to rent is legal

Firstly, Subletting is legal if the tenant obtains the landlords permission to let out the rental property.

Just to elaborate:

When renting accommodation many tenants rent directly from a landlord who owns the property. However, it’s also possible to rent from another tenant who has rented the property from the owner. This is called subletting. 

Most tenants need their landlord’s permission before they can sublet all or part of their home. As long as the permission is granted by the landlord /owner it is legal

Not more that 2-4 weeks dependent on the complications of the situation.

Yes we can, it would work the same as when we take over one

Our aim to help and support you as best as we can and as swiftly as possible.

We are fully compliant, act and operate according to law and we treat all our clients with integrity.

Firstly We can offer you a price for your home within 48 hours

Secondly, we can have the funds in your account within 2 weeks

No as we incorporate the solicitor costs in the offer.

For most of our purchase lease option agreements, we do pay your solicitor costs, it just depends on how the agreement is structured. But we can arrange it so it suits you. This has never been an issue, and we don’t see this ever being an issue going forward.

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