Estate Agent – Other Schemes

Other Schemes

CHAIN FREE® and Albani

Offer to buy from desperate sellers
Unique – CHAIN FREE® is an insurance type proposition (home owner can negotiate lowest price for next property with no legal commitment to take finance or to sell their home) enabling the seller to say they are a cash buyer (can take our finance in 5 days) See: An Example
Bridging
Different – Specialist open-bridge finance (interest-free, non-recourse, non-status)
Exclude estate agents
Increases and secures instructions for high street Estate Agents with sole agency (customer exclusivity)
Restricted to a named firm
Any firm of high street Estate Agents with sole agency
Nothing for estate agents
CHAIN FREE® increases footfall and earns additional fees for Estate Agents (£1,000 + VAT Success Fee and 1.5% + VAT Resale Fee)
Estate agents must provide a valuation
Estate Agents opinion of valuation not required
Bridging can cost 9%
1% (Option 1) No Fee (Option 2)
Quickly commit home owner to sell
Home owner has no legal obligation to sell. CHAIN FREE® makes the seller a Proceedable Buyer (See: Benefits)
Heavily discounted “quick sale” to “cash buyer”
Albani is not a vulture fund (and does not buy the home owners house). With CHAIN FREE® the seller has 20 weeks (extendable to 40) to decide what to do
Home owners have to sell for less than MV
IMPORTANT POINT: The home owner never has to sell for less than MV
Home owner has to accept fixed sale price
Home owners Estate Agent has up to 40 weeks to sell at their clients Asking Price
Home owner must agree to sell
IMPORTANT POINT: CHAIN FREE® is an insurance type proposition enabling the home owner to buy their next property with no legal commitment to sell own
Schemes with Fees up to 3% 
1% Fee (Option 1) No Fee (Option 2)
Use unqualified “local representatives” to inspect 
RICS Valuation Surveyors 
Generally offer the seller finance based on a valuation model
IMPORTANT POINT: The home owner is selling their most important asset and expects a home visit and professional valuation that is current and accurate. CHAIN FREE® (Option 1) provides them with RICS Surveyors Valuation after an internal property inspection
Abortive costs
None 
Take it or leave it proposition
Status quo vs. Ethical Finance (no legal commitment take finance or to sell)
Nothing for buyers
Buyers have access to VAL FREE® mortgage offers
Part Exchange from 70% MV
If, after proper marketing (20 weeks), the home owner doesn’t receive an offer at their Asking Price or higher than the Fall Back Price® will be the MV on the house they are selling (and we will pay any Additional Rate SDLT on the property they are buying)
Assisted Move provides sellers buying new build with 4 week sale opportunity conditional on subjugated buy/sell arrangements
Home owner can have up to 40 weeks to sell at their Asking Price during which time they remain in control of the buying/selling process
LTV 94% Valuation Model
LTV 90% Surveyors Valuation (Fall Back Price®) after internal property inspection + Profit Share
Home owner must use a designated estate agent
IMPORTANT POINT: Home owner can chose any high street Estate Agent to sell their house and to make an Application for CHAIN FREE®
Payment in 12 weeks
Home owner can take the Fall Back Price® in 5 working days
Sold by vulture funds to desperate sellers
Variations on a theme
CHAIN FREE® is unique

 

  • Sellers can’t sell until buyer has a mortgage valuation.
    VAL FREE® solves that problem so sellers are not kept waiting.
  • Buyers don’t want to incur abortive Valuation Fees.
    Buyers of CHAIN FREE® and CHAIN MENDER® pre-valued houses will know at no cost to them what valuation they can expect from their VAL FREE® mortgage lender.
  • Additional fees for your firm.
    See:  Your Fees
  • Chain related products on the market but with inherent weaknesses

Purchase offer restricted to heavily discounted MV

Lack of flexibility

Lack of customer option

Restrictive purchase method

Conflict of interest

Market image

  • What the Government wants and Albani provides

Market liquidity

Shorter time from exchange to completion

Buyers Anti-Guzumping Provision

Genuine service to home movers

Useful links