A completely different approach to your property sale headache.
If you don’t need all of the cash out of your property straight away then a management option could be the solution for you.
- Walk away from your property in under 4 weeks.
- Get a fair price for your property, don’t sell at a discount.
- Get paid a guarenteed monthly income.
- We pay your legal fees and, if you have approached us via a partner estate agent, your agent’s full commission.
[wptabs type=”accordion”]
[wptabtitle]What is a management option?[/wptabtitle]
[wptabcontent]
To put it simply, a management option is a different way of selling your property. This type of arrangement is not new and has been tried and tested in the UK for over 15 years. Its use is becoming more widespread in London and the South of England,but is only now becoming better known in the North.
A management option has 2 main features: a management agreement on your property and an option to purchase that property during or at the end of that agreement.
[/wptabcontent]
[wptabtitle]The Management Agreement [/wptabtitle]
[wptabcontent]
During the period of the management agreement, typically 3 to 7 years, you can walk away from all responsibility for your property. We will be responsible for all aspects of running and maintenance:
- We pay you a monthly income for the whole period of the management agreement, irrespective of whether or not there are tenants in the property.
- We have full landlord obligations for any occupying tenants.
- We are financially responsible for maintaining your property; we may even decorate and improve it (with your consent).
- If there is a mortgage on the property, we will make the payments on your behalf.
- We are responsible for insurance.
[/wptabcontent]
[wptabtitle]The Option[/wptabtitle]
[wptabcontent] In addition to the management agreement, we intend to purchase your property. We can make this purchase during, or at the end of, our period of responsibility.
We will agree at the start a price that is acceptable to you, and this will be based on your asking price. This arrangement of being able to buy a property in the future, at a pre-agreed price, is called an option.
‘This will be based on your asking price.’
[/wptabcontent]
[wptabtitle]How do I know if it is the right solution for me?[/wptabtitle]
[wptabcontent]
If you need all the cash out of your property straight away, then this solution is not for you. If you only need some release of equity, however, then it may be possible to restructure the finance secured on your property to allow this to happen. To explore this further, you would need to speak to your lender or mortgage broker.
The main advantage with a management option is that, in most cases, you can walk away from responsibility for your property in 3 to 4 weeks. During the period of the agreement we pay you a monthly income, typically 60-80% of what a family would pay to live there. Unlike the normal rental situation, however, you are free from: responsibility for managing tenants; organising and paying for the maintenance of your property; and the problems of rental voids. We are legally obliged to pay you the agreed monthly payments, whether or not the property is occupied.
If you have come to us through one of our partner estate agents, then they will be involved though out the whole process, from initial discussions through to the signing of the agreement, much as they would in a normal sale. In addition to this we pay their commission on your behalf. We also pay £600 towards your legal fees, which will usually be enough to settle your solicitor’s fees in full.
You remain the legal owner of the property throughout the time of the agreement, until such time as the property is sold.
‘We pay your estate agents commision
and £600 towards your legal fees.’
[/wptabcontent]
[wptabtitle]The Next Steps >[/wptabtitle]
[wptabcontent]
If you would like to know more about whether a management option is suitable for your individual situation, then the first thing to do is to arrange a meeting with one of our consultants. If you have 
come to us through one of our partner estate agents then you should get in touch with them. A meeting can be arranged either at their offices or in your home.
If it becomes clear that this is the right solution for you, you will appoint a solicitor to legally represent you, as you would in a normal sale. Your solicitor will then work with our solicitor to draw up the terms of the agreement so that all parties are happy. The agreement is then signed and responsibility for the property becomes ours.
‘responsibility for the property becomes ours’
[/wptabcontent]
[/wptabs]