Home » Estate Agent – CHAIN MENDER® Questions

Estate Agent – CHAIN MENDER® Questions

  1. Who can we discuss your proposition with?
    • Please call our CEO (and Founder), Anthony Apponyi DD: 01491 641 362.
  2. What is the customer proposition?
  3. What are our Fees?
  4. What about regulation?
    • CHAIN MENDER® is not a regulated product
      • Albani is authorised and regulated
      • You give no advice and no recommendation only information
      • No Valuation
      • You only submit an Application
      • Regulation
  5. What is the process?
    • The home owner has 1 week from the date of the Application to decide if they want a Provisional Price™ for the house they are selling.
  6. What is CHAIN MENDER®?
    • CHAIN MENDER® is a Facility Letter with the guarantee of a Provisional Price™ (85% Surveyors Valuation) for the house your client is selling.
      • They can drawdown (take) the Provisional Price™ at any time during a 3 week Facility Period on 5 days notice.
      • IMPORTANT POINT: Your client’s solicitor must confirm to us they are holding a current Sale Contract for the property their client wants to buy otherwise they will not be able to drawdown (take) the Provisional Price™.
      • If Plan Company sells their house for more than Surveyors Valuation Plan Company will give them an 80% Profit Share (with no deductions).
  7. What’s the difference between CHAIN MENDER® and bridging finance?
    • No possibility of your client loosing their home
  8. Why would our clients want to sell for less than MV?
    • With CHAIN MENDER® they won’t have to.
  9. Catch 22 – any price you offer will be lower than we can recommend they sell for?
    • IMPORTANT POINT: In no circumstances do your clients have to sell for less than a price you recommend (MV)
      • If your client decides to take Albani finance (Provisional Price™) it will be MV as you have been unable after proper marketing to sell their house resulting in an exchange of contracts for more.
      • CHAIN MENDER® sellers never have to sell for less than MV
  10. Sellers won’t want it until they need it, when a sale goes wrong or if they can’t sell for more?
    • IMPORTANT POINT: That is the whole point of CHAIN MENDER® (a chain-mending solution).
      • The homeowner’s solicitor must be holding a current sale contract for the property their client wants to buy.
      • See: How it Works
  11. How do you handle misconnect between valuations?
    • We do not require Estate Agents to provide a valuation
      • Our RICS valuations are for mortgage purposes
      • Valuations that are too optimistic/pessimistic benefit no one
      • Our Panel Managers work with Valuers to ensure accuracy and consistency
      • Our in-house Valuation Auditor carries out checks to prove the process if challenged
      • Contemporaneous valuation audits by reference to database records
  12. If the seller draws down the Provisional Price™ there will be a mortgage on their house when they make a mortgage application for the next property?
    • The new lender will ask them if they already have a mortgage.
      • Your client must answer “Yes” because a lender will ask them on completion “if there are other loans secured against another property?”
      • Because your client has  said “Yes” the lender will ask for details. Your client should say that they “have non-recourse finance from Albani and therefore no mortgage or home loan commitment.”
  13. Our agency achieves fast sales?
    • If your clients wants CHAIN MENDER® it is because you have been unable to sell their house at their Asking Price
      • Your clients desperately want to secure their next home with a Fast Sale (we do not buy their house) and Profit Share
  14. Sellers who buy their next house before you have sold theirs will have to pay a higher rate of SDLT on the second property?
    • No
      • Sellers will only pay the Standard Rate of SDLT
      • We undertake to pay any Additional Rate of SDLT on the second property the seller buys
  15. How do we get the home owner to chose our firm over the competition?
    • IMPORTANT POINT: Making an Application will secure your client for 1 week (after which they can ask another Estate Agent to make another application)
      • We do not provide home owners with names of Estate Agents, we are impartial and do not recommend or promote any firm
      • Every month we advertise in Estate Agency Today, Property Eye and Negotiator and Email and text message financial introducers, 4,000+ high street  Estate Agents and 1 Online Estate Agent with details of our products so it is up to the individual firm to decide which one is suitable for clients selling and applicants buying
      • Adam J Walker (http://www.adamjwalker.co.uk/Training) can train your staff at our cost how to introduce CHAIN FREE® and CHAIN MENDER® with the advantages of VAL FREE®to increase footfall and to earn additional fees
  16. What happens when our client takes the Provisional Price™?
  17. Tell me about the Online agent?
    • The Online Estate Agent must have on ground representation and accept (Only)
      • Responsibilities at Drawdown Date (to attend the property to verify that the sellers house is empty and vacant so that the Provisional Price™ can be remitted to their solicitors
    • Your Fees 
  18. Why have both online and high street agents?
    • So sellers can chose the Estate Agent (Online or high street) that suits them
      • We only work with 1 Online firm (a firm that has on-site representation)
  19. When will our client have to sell their home?
    • No
      • Your client will only be legally committed to sell their home when their solicitor completes our Drawdown Notice with required documents
  20. When is Albani committed?
    • When your client receives the Offer Documents signed by us we are irrevocably committed to provide the Provisional Price™
      • Your clients solicitors can obtain verification of our financial credentials from our Legal Department by quoting their URN (on the top of all correspondence from us).
      • Our Legal Department is at legaldepartment@albani.finance or they can Contact Us
  21. What happens if our client is in a chain that has not broken?
    • CHAIN MENDER® is a chain mending solution so you can only offer them CHAIN FREE®
  22. How do you protect your integrity?
    • IMPORTANT POINT: We do not take fees or commissions from third parties (this applies to all products and services on our platform including those accessible at SMART MOVE®
  23. Suggestions for improving the estate agent and customer proposition?

 

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