Paramount Investments have been at the forefront of investment and development sales for the past 24 years, covering the whole of the UK. With a renowned track record, Paramount Investments are synonymous with simple, straightforward, efficient transactions in order to secure a satisfactory price for both buyers and vendors!
To ensure you don’t miss out on any investment or development opportunity, here are our top five tips for a successful and straightforward purchase:
It is imperative that buyers are quick off the mark when the right investment comes your way. In the first instance an email matching your required criteria will be sent to you. It is crucial that you check your emails regularly, as new instructions and price reductions happen on a daily basis.
2. Keep in contact
Once you receive an investment/development opportunity that catches your eye, it is time to start undertaking your due diligence. This can include getting a feel for the area, gauging sale prices of other properties in the area and running an initial draft appraisal. Having this knowledge prior to visiting a desired site can save you valuable time and money. Once you are satisfied with your homework, we would advise that you call the Paramount team at the earliest opportunity. The team will be able to answer any questions you may have. We have 50 years of combined property experience and are always happy to help.
3. Arrange a viewing
Booking a viewing early is essential to helping you secure your investment. We encourage buyers to know what you are buying, rather than making a blind offer. Getting a feel for the investment will give you a greater understanding of what costs may be involved, such as build works, whether that is refurbishment, new build or even just cosmetic work. Having this knowledge will make your development appraisal more accurate, which is key to working out what offer you wish to put forward.
4. Making an offer
Once satisfied with your viewing and due diligence it is now time to submit your offer to the Paramount Investments team. The team are here to help and will always try to give you guidance where required. Often the best deals are secured for buyers who can make cash offers where no mortgage is required. This enables a quick transaction for exchange of contracts and completion.
5. Legal element
It is imperative that buyers already have a solicitor in place. Having a local solicitor who you have a good relationship with can be the difference between securing and losing a great investment opportunity. If you are a first time purchaser, we advise that proof of identity and proof of funds have already been presented to your chosen solicitor prior to having an offer accepted. Having a solicitor in place and ready to act can help push your offer over the line when there is competition for the property or investment. At Paramount our record for an exchange of contracts from receipt of all paperwork is 7 MINUTES. It really can be done that quickly if all parties are committed.
Congratulations! At this point you would have secured your investment by exchanging contracts with a 10% deposit!
Anthony from the Paramount Investments team shares his views on securing a purchase:
In today’s market, being a buyer in a proceedable position really does make the difference when securing your investment opportunity. 2013 has started very well, most notably in residential development, pub and HMO sales and I expect this trend to continue judging by the volume of activity. I believe that by keeping yourself up-to-date at an early stage with what investments are coming to the market and having funds and a solicitor readily available will benefit our buyers greatly. I hope 2013 proves to be a successful year ahead for all.