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Disclosure Agreement Terms & Conditions

 

The Service

By placing an order of a "Sourcing Agreement", you are getting an instant access to full disclosure to any chosen property deal for a period of 6 month from the day of purchase.

The price of the "Sourcing Agreement" serves as a deposit and is deductable from the Sourcing Fee.

Once you have placed and order for the "Sourcing Agreement", all you need to do is to enquire about any avaliable property deal and we will send you full disclosure. 

A full disclosure includes:

- Address of the property

- Link to the listing and walk around video

- Due Diligence with comparable properties, rental comaprables and area demographics.

- Refurb Estimate

- Home Report if avaliable & ROI Calculation

The Process

1. Find Avaliable Deals 

1.1- you can find our avaliable deals on our website or if you are subscribed to our mailing list, we send a deal alert to your email every Monday at 10am.

1.2 - What you will see is a snaphot of the property deal, which includes the basic details such as the purchase price, rent value, refurb estimate, sourcing fee and photos or a video but they don't include the property address and due diligence. 

2. Ask for Full Disclosure

2.1- enquire about any property deal that you like by either replying to our Deal Alert by email or send us a text message with your full name and the deal number to 07540599789.

3. Do your Due Diligence

3.1 - We will send you an email with full disclosure to the property deal. This will include the address, link to listing, link to walk around video, due diligence with comparables, refurb estimate, Home Report, EPC report and any other information that we have found through our due diligence process.

3.2- we will clear any questions about the property with a purpose to help you to make an informed decision.

4. Send an Official Offer

4.1- once you are ready to go ahead with the purchase, we will instruct our solicitor to send an official offer on your behalf.

5 Pay the Sourcing Fee

5.1- Sourcing Fee is payable in full at the day of Official Offer being accepted on a chosen property. With Rent to Rent deals, the full amount of Sourcing Fee is payable at the day of Lease Contract being signed for a chosen property.

5.2- the cost of the "Sourcing Agreement" is taken off from the total Sourcing Fee.

Rules

6. Don't go behind our back.

6.1- If you refuse to purchase the proposed property deal and then purchase the property on your own within 12 months of ordering the "Sourcing Agreement", SMART PROPERTY SOURCING LTD will issue an invoice for £5000+VAT payable within 7 days.

7. Do your own Due Diligence

7.1- you should be aware that the calculations and information we suggest regarding the property deal are supported by our thorough analysis and observations. They are not confirmed by any authorities or governmental regulations.

8. We protect your Data

8.1 - you agree, that SMART PROPERTY SOURCING LTD can store your data following the principles of GENERAL DATA PROTECTION REGULATION (GDPR).

8.2- SMART PROPERTY SOURCING LTD ensures that your data is used only for the needs of SMART PROPERTY SOURCING LTD and is not duplicated, copied, sent to third parties or disclosed for other purposes. 

9. Complaints

9.1 - SMART PROPERTY SOURCING LTD aim to solve any disputes arising from this Sourcing Agreement internally. If this effort fails, you have the right to appoint a Mediator by application to PRS ( Property Redress Scheme)

Refund

10. "Sourcing Agreement" Cancelation

You can cancel the "Sourcing Agreement" within 14 days and you will receive a full refund of £360. 

 

11. Refund of a Sourcing Fee

11.1 - Make sure you do a proper due diligence before an Official Offer is submited on your behalf. Once an Official Offer has been accepted by the seller, there is no refund after this point in case you decide to pull out from the transaction. It is very important to be sure that you can get finance for the property deal before you decide to send an official offer. We at SMART PROPERTY SOURCING LTD are a sourcing agency, we cannot be responsible for mortgage rates, your eligibility for mortgage or bridging finance or any other type of financing. 

11.2 - In case the seller pulls out from the transaction within 4 weeks after an Official Offer has been accepted on the property, you will receive a refund of a Sourcing Fee minus £240 administrative charge. 

11.3 - In case the seller pulls out from the transaction after the 4 weeks period from the day of official offer being accepted on the property - SMART PROPERTY SOURCING LTD will keep the full Sourcing Fee, there is no refund in this case. 

11.4 - For Rent To Rent Deals - the full Sourcing Fee is payable at the day of lease contract being signed for the property. There is no refund after this point under no circumstance.

Compliance Details

SMART PROPERTY SOURCING LTD 

14 Newton Place, Glasgow, Scotland, G3 7PY

Company number SC690025

Property Redress Scheme 
Membership number: PRS029142

The Information Commissioner's Office ICO 
DPR Registration number: ZB190070

Anti Money Laundering Supervision 
Registration number XMML00000169322

Professional Indemnity and Public Liability Insurance.
44404249 – Prosure Solutions Limited

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