So, you’ve found your dream property available at auction. You love the fact you can complete the process quickly and simply, as you want to avoid the drawn-out delays and back and forth of buying through private treaty. The only problem is you just need that little more time to get your mortgage locked down. What do you do? Well, at Network Auctions we have the solution with our service, Rightbuyer.
Rightbuyer is a secure property transaction that removes the need to exchange contracts on the day of sale and gives you, the buyer, up to 6 weeks to secure a mortgage with both parties safe in the knowledge they won’t be gazumped. Essentially, it’s a sale with all the speed and certainty of a typical auction deal, but with a little more wiggle room.
“Rightbuyer is a secure property transaction that removes the need to exchange contracts on the day of sale and gives you, the buyer, up to 6 weeks to secure a mortgage with both parties safe in the knowledge they won’t be gazumped.“
The way it works is we provide you with a Rightbuyer Exclusivity Agreement that secures the buyer 6 weeks to exchange contracts. This agreement guarantees that the vendor will not sell to anyone else while you secure your mortgage. In return, you agree to pay a deposit of 1% of the purchase price (minimum £5000) as part of the payment of the property. This demonstrates to the seller that you are committed to seeing the deal through to the end.
As the full legal pack has already been provided up front and due diligence has been performed before the sale, all that’s left for you to do is get your finances in place in that 56-day period, while not having to rush or stress as you’re safe in the knowledge your sale is secure.
Watch our Head of Partner Development, Richard Worrall, break down all the benefits of using Rightbuyer over to our Instagram.
Rightbuyer is an exclusive service only at Network Auction and our partnered agents throughout the UK, and available to all those who take part in our auctions. If you’re interested in finding out more about Rightbuyer or using it in our next auction, don’t hesitate to get in touch.