The Buying Process
Land will be sold by auction on 2nd June 2021, Wednesday at 9 am (UK time); with a starting bid of £1.95m, expected to reach around £2.5m. The bidding process includes providing solicitor details, registration for the bid, and payment of a 10% deposit.
Once the bid is successfully secured, remaining monies need to be paid, through solicitor, within 21 UK working days. Once payments have been made and transfer deed finalized, possession of the property will be handed over.
The Construction Process
Since this property already has all requisite permissions granted, we can start full spectrum construction work from Week 1.
We have the experience and expertise to complete this project from start to finish in all respects in 10 to 12 months.
The Marketing/Selling Process
The outer building brick structure will be ready in first 3 months. At this point, our renowned marketing and sales agents will start the process of advertising and selling the property by securing reservations of the flats.
Selling Time Frame: Within 12 to 18 months
Fast Selling Features: Government- backed insurances As with any Feather Homes Investment, there are elements of risk and that’s why it’s very important to have all the insurances in place to secure 100% project.
Terms and Conditions of Agreement
Terms and Conditions of Agreement Building work to be carried out on the land after purchase
- It has been agreed that Mr Sultan will carry out the building work to construct a 24 Flats building with 12 months.
- Construction will start as soon as possible once payments have gone through. The cost of the work including building, materials and all internal works which will be paid in agreed instalments to Mr Sultan by the investors. Note that all fixtures and fittings are included in this price (e.g. Bathroom, Kitchen etc.) and the flats will be made in a condition ‘ready to move in’.
- In the event that the cost of building work should increase It has been agreed that this is the final budget and no extra amount will be paid. If, a situation arises where the cost of the building work should increase, this cost will be solely covered by Mr Sultan.
% Profit Gain
% profit given to Parties based on final selling price of property
If the property is sold at any price below £11m,Mr Sultan will receive 15% of the profit with the rest shared amongst the investors
If the property is sold between £11m and £12 ,Mr Sultan will receive 20% of the profit with the rest shared amongst the investors
If the property is sold between £12m and £13m ,Mr Sultan will receive 25% of the profit with the rest shared amongst the investors
If the property is sold between £13m and above ,Mr Sultan will receive 30% of the profit with the rest shared amongst the investors
Note the flats, when completed will be put up for sale at an agreed price straight away , by all parties will be given to market the property. Ultimately the advice of local agents will be taken in terms of the best possible asking price to market the property at.
Guarantees, Warranties, Insurances
As with any investment, there are elements of risk and that’s why it’s very important to have all the insurances in place to secure 100% project.
All new homes in the UK are covered by a 10-year home warranty and insurance guarantee. This provides comprehensive protection against a range of eventualities, including problems with the home’s construction.
Developer Policy Covers
Our Policy Includes Standard:
√Public Liability up to £10 million
√Employer’s Liability up to £10 million
√Public Indemnity insurance up to £10 million
√Contract works insurance – covers the cost of damage caused by things such as theft, flood, fire, adverse weather or vandalism damage.
√Plant and tools insurance – covers damage and theft of site tools, plant, and machinery.
√Insurance cover extensions – if a project is delayed, cover can extended with ease
√10 years structural warranty
√Help to Buy scheme
√Residential building control
One-stop Information Database
Feather Homes real estate Investment CRM systems can track copious amounts of data and business and advertising metrics while keeping everything organized and easy to use.
Mostly our property development investors and joint venture partners prefer the sell option as it helps them forecast an exit based on recently sold comparable to those we are proposing to build.
Let & Hold
Sometimes, our investors want to keep hold the property prices – being able to rent the properties whilst awaiting for the market to go more up.
It could be tone of our strategy is ‘build to rent’, therefore meaning our proposed exit is to refinance the end market values (using a term mortgage) once the construction works have finished.