Rightbuyer - Buyers Guide
9 Steps to a successful property purchase
Rightbuyer is a secure property transaction combining the speed and certainty of an auction sale with the best aspects of an estate agency (Private Treaty) transaction. Buyers secure a Rightbuyer Exclusivity Agreement for a fixed period of up to 6 weeks to arrange their mortgage before exchanging contracts, safe in the knowledge they will not be gazumped.
With legal information up-front and buyers giving a financial commitment the sale is accelerated, eliminating the delays, uncertainty and fall-throughs associated with private treaty transactions. This up-front provision of conveyancing documentation enables interested parties to complete due diligence before committing to buy.
At the close of a Rightbuyer transaction the Exclusivity Agreement allows buyers time to secure their mortgage while crucially, vendors undertake not to sell to anyone else. It means both buyer and seller know their transaction is secure. Buyers provide a Reservation Deposit equivalent to 1% of the purchase price (subject to a minimum £5000) for the Exclusivity Agreement and in part payment for the property.
The seller gets a serious and committed buyer. The purchaser has certainty – they won’t lose the property if they perform.