4 buy-to-let headaches cured by Vesta
February 7, 2018
4 buy-to-let headaches cured by Vesta
Ever tried investing in buy-to-let property in England and Wales? Yes, we agree – it’s harder than it should be. Finding the right property, having the money to invest and prohibited costs – the list of potential pitfalls can go on. But like you, we know the buy-to-let market is rich with investment potential. That’s why we built Vesta – a simpler, more cost-effective and efficient way to buy property.
Here’s how we’ve reinvented the buy-to-let property sector, eliminating one headache at a time… recognise any of these?
1. “Negotiations never go my way”
There are many uncertainties in a world without Vesta between finding the right buy-to-let property, making an offer and finding success.
Are you aware of the full offer history on the property, and are you 100% assured of a perfectly level playing field? Vesta brings transparency and structure to the negotiations process.
Sellers are encouraged to respond to all offers within 24 hours, and all past offers made against a property are listed on the Vesta marketplace for all to see. At least if you miss out, you’ll know exactly why.
2. “My offers usually fall through”
Of course, our transparency doesn’t guarantee that your offers are sure to be accepted.
Except when it does.
Buy it Now
Enter the ‘Buy it Now’ price, available on many properties for sale on Vesta. It’s a fixed amount pre-agreed by the owner, at which they are contractually obliged to sell. This innovative function offers control to you as a buyer, putting an end to protracted price negotiations.
In fact, offer the Buy it Now price and it will be accepted immediately. The property will be removed from sale as soon as you have paid your buyers fee of £1800. This means the deal could be done in just a few minutes.
Alternatively, you may still want to negotiate on price in which case you should expect to hear back from the seller within 24 hours.
Sure, it’s still possible that both Buy it Now and offer purchases could fall through. But it’s highly unlikely. And we’re confident in saying that, as we have redesigned the sales process to include 3 key features:
- Due diligence in advance means clear & detailed property info
- Seller and buyer are committed via a transaction fee that both parties pay
- Property is immediately removed from Vesta marketplace, no further bids passed on
3. “Survey problems are only revealed once it’s too late”
No one can make promises that a property will stay damp-free and undamaged once it has changed hands. But at least Vesta can promise investors they’ll know exactly what they’re buying.
Most properties are listed on Vesta fully documented which includes RICS (Royal Institute of Chartered Surveyors) survey, including a valuation and condition report. All searches too, are either completed before listing, or at the very least applied for (these can typically take up to eight weeks). As a potential buyer, you’ll also be provided with a property’s documentation including rental history and EPC (Energy Performance Certificate) before paying your transaction fee – information often unavailable pre-offer stage.
By turning the process on its head and providing downloadable documents before buyers commit, we help ensure you discover no last-minute skeletons in the cupboard.
The Vesta way can save valuable time and can often move straight to the exchange stage – so get ready for a speedy one.
4. “I’m losing money by not having tenants in place”
Finding new tenants is a hidden cost and some buy-to-let buyers do not realise, that interviewing and installing them can take weeks – time in which the vacant property is not generating rent.
Most properties available for purchase on Vesta are sold with tenants still in place, so you’re in line to start earning rental income straight away.
Alternatively, investors receive dividends based on the property’s net income – once costs, provisions and taxes have been deducted.
Vesta has been designed to offer a simpler, more transparent and cost-effective way to buy and invest in UK buy-to-let property. So, what’s holding you back?
Realise your investment ambition today.
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