Bespoke Sourcing

What is Bespoke Sourcing?

  • Bespoke Sourcing is when we work for an investor to find him a specific deal.

What is the difference between Bespoke Sourcing and Deals on Mailing list?

  • As sourcing agents, we find property deals on a weekly basis. Now, these deals can be of any type – BRRR, BTL, R2SA and also at any location and any numbers – purchase price, ROI etc. When we have a property deal that doesn’t match the criteria of our investors who have hired us for Bespoke Sourcing, we send those deals out on our generic mailing list – meaning anyone can grab them, first comes first served. Opposingly when we source deals for investors on Bespoke, we are looking for a specific deal with certain criteria and when we find it, we offer it to our investor. It does not go out on mailing list, unless the investor reject it.

What are the benefits of Bespoke Sourcing for an investor?

  • Investors on Bespoke Basis get full disclosure to any deal that matches their criteria

  • Its much faster for investor to buy an ideal property, as we know what we are looking for and can direct our search and effort to find a matching deal

What is the process?

  • We will first identify the criteria for an ideal deal

  • We sign a sourcing agreement

  • We collect photo ID and proof of funds

  • We charge a £500 deposit, which is deductable from the total Sourcing Fee

  • We start the search and provide up to 3 matching potentials to the investor

  • Investor decides on purchase

  • We secure the property by Official Offer on Investors name or his/her company name

  • Once offer accepted, we collect the rest of the sourcing fee

  • We provide contacts to Power Team and make sure everyone knows what to do

  • We step out from the process

 

What are the rules?

  • We will offer up to 3 matching deals to investors. If the investor does not purchase any of the proposed deals, we keep the deposit and we are not going to offer more deals, unless a new deposit is paid and a new Sourcing Agreement signed. 

  • There is a set deadline for us to come up with matching deals, usually 90 days. If we do not come up with 3 matching deals within the deadline period, the investor will get a full refund of the deposit. 

  • The full amount of sourcing fee can vary between £3K-£5K, depending on the lucrativity of the deal. This will be always stated at each proposed deal.

  • Deposit must be paid in advance, the rest of the fee is paid at the day of Official Offer being Accepted on the name of investor or his company.

  • If the investor fails to finance the deal and thus the deal fell through, we will keep the full amount of Sourcing Fee, there is no refund in this case.

  • We will secure the property with an Official Offer only after the Investor has agreed to proposed offer/purchase price. We secure properties strictly on behalf of the Investor ( under his/her name or company name ).

What is included in a deal proposal?

  • Address of the property

  • Link to a listing if is on market

  • Due Diligence – sold and for sale comparables, rental market research, area and demographics research, notes for any needed refurb, Home Report, any additional data that can help to make an informed decision

  • Link to a walk around video

What is the after care?

  • Every property deal comes packaged with a Power Team, such as Scottish Solicitor, Letting Agent, SA Manager and anyone that is needed for a fully hands off management.

Do you also manage the Refurb?

  • We do not manage any refurbishments, we are solely a souring agency. However, we have partnered with one of our investor who is taking full responsibility for project managing the refurbishments, using his own team of builders. He has purchased 2 property deals from us and managed his own refurbs with high efficiency and for best price. So we are confident to hand him over any refurb projects.

  • Project Management is an extra cost and it is not included in our Sourcing Fee