A good price is not enough. A property can look right on paper and still cost you money after the deal. So before any recommendation, we run three sets of checks.
1. The numbers
- What similar units actually sold for in the last months, and what they rent for
- All acquisition costs: DLD fee, agency fee, mortgage costs if any
- All holding costs: service charges, maintenance, vacancy
- Gross yield against net yield, and a downside scenario
2. The unit
- Title deed and ownership, matched to the seller in front of you
- Service charge account: paid up, or pending amounts that pass to you
- Any cancellations, disputes or restrictions on record
- Building condition and anything a viewing should raise
3. The deal
- Who holds the money and at what step it moves
- Escrow on off-plan, and the developer's registration
- Every paper in the chain, so nothing is signed that cannot be enforced
- PXP never holds client money
Anything that does not hold up, we tell you before you commit. Often that means "don't buy". That is the point.