FAQs
There are 4 main categories highlighted as follows:
1 - The Basics
2 - Referral procedures
3 - Commission procedure
4 - Timing & speed/deadlines
The Basics
Q: Who is Quick Purchase Ltd?
A: Quick Purchase Ltd is a company of property professionals with a vast amount of experience within the property sector. We are national property buyers and have an extensive portfolio of property across England & Wales.
Q: Do I need to contact Quick Purchase Ltd?
A: You do not need to contact us. All referrals are updated within the notes section which is available to view at any time and any questions you have are covered within the FAQ. If you feel that you have any questions beyond the FAQ and the notes, please don’t hesitate to contact us.
Q: Who would I contact, if I need to?
A: If you have been unable to find an answer to your question in the FAQ you should contact your personal representative.
Q: How long has Quick Purchase Ltd been established?
A: We, the directors, have jointly over 35 years of property experience and have been purchasing property since 1995.
Q: What are Quick Purchase Ltd areas of expertise?
A: We specialise in;
• Sale and rent back (also known as sell and rent back)
• Stopping repossessions
• Quick property sales
• Freehold investment
Q: Can I trust Quick Purchase Ltd?
A: Yes of course. We are authorised and regulated by the FSA and we have an excellent reputation and fully intend to keep it that way. We own hundreds of properties throughout England and Wales and we have placed every effort into our website, to give you the confidence that you are dealing with a trustworthy company.
Q: Where is Quick Purchase Ltd based?
A: We are based in Essex, please find our full contact details on our contact us page.
Q: Where does Quick Purchase Ltd purchase property?
A: We are national property buyers and purchase property in England & Wales.
Q: Why should I recommend Quick Purchase Ltd?
A: We are a long standing company which takes great pride in providing a professional service based on very fair terms. We also hold relationships with solicitors and surveyors to ensure that all clients receive a fast and professional service.
Q: What happens if I am unhappy at any point?
A: We don’t think this will ever happen but if it does please e-mail complaints@quickpurchase.co.uk where your complaint will be dealt with within a reasonable timeframe and handled by a senior member of staff.
Q: Where can I find out more information about Quick Purchase Ltd?
A: We invite you to visit our main website www.quickpurchase.co.uk
Q: How do you fund your purchases?
A: We are a cash funded organisation.
Q: What services do you offer?
A: We offer the following services:
• Sale and rent back (also known as sell and rent back)
• Stop repossession
• Quick property sale
Please feel free to visit our main website for further information: www.quickpurchase.co.uk
Q: What type of property does Quick Purchase Ltd purchase?
A: We purchase any type of property for example:
• Flats
• Maisonettes
• Houses
• Ex-Local Authority
• Probate property
• Property with sitting tenants
• Derelict property
• Property that requires refurbishment
Q: Does Quick Purchase Ltd just purchase property?
A: No, Quick Purchase Ltd also purchases commercial property, freeholds and land which has planning potential.
Q: Is the condition of the property important?
A: No it’s not. We buy property in any condition, even if the property is uninhabitable, derelict, has subsidence, etc,
Q: Is Quick Purchase Ltd regulated by the Financial Services Authority (FSA), enabling them to trade within the sell and rent back industry?
A: Yes, we are fully authorised and are legally allowed to trade in the sell and rent back market. Our FSA regulatory number is 522468.
Q: Does Quick Purchase Ltd pay/contribute towards any of the clients fees?
A: Yes. We are happy to pay the client’s solicitor’s costs if they use a solicitor from the Quick Purchase Ltd panel or we will contribute up to £500 including VAT should they want to use their own solicitor.
Q: A client’s property is being repossessed, can Quick Purchase Ltd help?
A: Yes, we can. We can prevent the client’s property from being repossessed and if they wish to continue living there, we will arrange a suitable rent back option tailored to their needs.
Q: Can my client choose the date they want to move?
A: Yes they can, a mutual agreement will be made between Quick Purchase Ltd and the client, with a suitable completion date.
Q: If a client has a property with development potential, can the client and referee benefit from this?
A: Yes. We recognise that some properties are ideal for development - even though the seller isn't in a position to manage this by themselves. We can help by purchasing the property and agreeing with the seller to pay them a share of the profits when the property is developed and we are willing to pay the referee 1.5% of all sold properties.
Q: Does anyone know about the sale?
A: No, it’s totally confidential.
Q: How do your prices compare to those I would get from an estate agent?
A: It depends on a number of variable factors such as the type of property and its location. We usually offer between 65% - 70% of the current realistic market value.
Q: Why do you refer to yourself as a cash buyer?
A: We are cash property buyers because we have immediate access to funds. We don't need to delay the process by waiting for a mortgage company to approve the loan, which can take weeks!
Q: My client is relocating and needs a quick property sale. Can you help?
A: We can purchase your clients property very quickly to ensure they can move on with their plans.
Q: Do you carry out a structural survey?
A: Not usually as it would delay the process. Our in house valuers have enough experience to make decisions on the spot. If we do decide we need to survey the property, it would be done at our expense.
Q: My client is having financial difficulties and needs to release the cash in their home, is this something Quick Purchase can help with?
A: We can purchase your clients property to help them pull themselves back from the brink of any major financial difficulties, facing eviction notice, being repossessed or any other problems. If the client wishes to remain in the property we can arrange a suitable rent back option for them.
Q: How long can my client rent back their property?
A: Your client will be able to rent back their property for life i.e. as long as he wishes, as long as they abide by the fair terms and conditions of the sell and rent back agreement i.e. paying their rent.
Q: Does my client have to accept the offer straight away?
A: No, your client can have as long as they want to make their decision without any form of pressure from Quick Purchase Ltd.
Q: My client is in no rush at all to sell their home - should I contact you?
A: Yes. Our service also suits someone wanting the certainty of a guaranteed sale. Some people like the idea of agreeing a sale with us, so they're seen as 'cash buyers' and enjoy a stronger bargaining position when they start looking for a new home or indeed moving forward with their lives.
Q: Can my client buy the property back after they have opted to use the sale and rent back option?
A: All our sale and rent back customers are able to purchase back their home at a minimum valuation price. At that time we will establish average market value from 3 sources and apply a 5% discount to that price. The choice is then theirs.
Referral procedures
Q: What should I do before referring a client?
A: Please read ‘The Basics’ which highlights our areas of expertise and the type, condition and the location of property that we purchase.
Q: How do I refer a lead to Quick Purchase Ltd?
A: Once you have registered on the Quick Purchase Ltd referral site all you need to do is simply click on ‘Add Lead’ and complete the required details.
Q: How long will it take Quick Purchase Ltd to contact the referral?
A: We contact all referrals within 48 hours of being submitted online.
Q: Do I contact Quick Purchase Ltd for an update on the referral progress?
A: No, this isn’t necessary. All updates will be posted in a notes section on the referral for you to view at any time.
Q: How do I know the progress of the referral once I have submitted it to Quick Purchase Ltd?
A: The notes section and the status of the lead will be updated for you to view on a regular basis.
Q: Do I need to explain anything to the client?
A: Yes. You need to advise the client, that by referring a lead to Quick Purchase Ltd, you may receive a commission for doing so.
Q: What commission do I receive for referring a lead to Quick Purchase Ltd?
A: You will receive 1.5% of the completed sale price.
Q: I work for a company, do I have to refer leads through them or can I refer leads to Quick Purchase Ltd in my personal name?
A: An individual or a company can refer leads to Quick Purchase Ltd. However, it is the registered person, who referred the referral to Quick Purchase Ltd that will be entitled to the commission.
Q: How quickly do I receive my commission?
A: Within 14 days of completion but please see ‘Commission Procedure’
Q: How do I know if Quick Purchase Ltd has received the referral before?
A: We will e-mail you with confirmation that we have received the client’s details prior to you referring the client to us. Written confirmation will be available upon request.
Q: How do I know that Quick Purchase Ltd has received my referral?
A: You will be sent an e-mail to confirm receipt of the referral.
Q: What do I do with the e-mails I receive from Quick Purchase Ltd?
A: We can’t stress enough that you must keep all the e-mails we send to you as you will require them at a later stage.
Q: Do I phone my referral through to Quick Purchase Ltd?
A: No. If you phone a referral through to us there will be no record of the referral coming via yourself and therefore you may not be eligible to receive commission.
Q: Can I give brochures and business cards out?
A: Yes but please ensure that you add the referral within the referral system or you will not be eligible for any commission should the client contact Quick Purchase Ltd.
Q: Do I need to meet Quick Purchase Ltd at the property?
A: No, unless the client clearly expresses that they would like you to be present, as we may be discussing very personal financial details or sensitive information with the client.
Q: Do I have to be VAT registered to refer a client?
A: No.
Q: Do I have to be a member of the FSA to refer a lead?
A: No.
Commission procedure
Q: How much commission do I get paid?
A: You will receive 1.5% of the completed sale price i.e. sale price = £150,000 you receive £2250 plus VAT if you are VAT registered.
Q: When do I get paid?
A: Within 14 days of completion and providing we have had the relevant information from you.
Q: What do I have to do to get paid?
A: Once completion has taken place you will need to send your receipt of registration of the referral e-mail (which you would have received the day you referred the lead to us) and an invoice, either via fax on 01245 227920, e-mail on info@quickpurchase.co.uk or by post to No 1 The Spinney, 121 Main Road, Danbury, Essex, CM3 4DL.
Q: How will I get paid?
A: You will be paid by bank transfer or by cheque. You will be able to complete your details for payment within the ‘My Account’ section on the Quick Purchase Ltd referral website.
Q: Can I have the cheque sent to another name or address?
A: No. Cheques will only be sent to the referee at the address supplied within the ‘My Account’ section within the Quick Purchase Ltd referral site.
Q: How secure are my details?
A: We, like all companies, are bound by the Data Protection Act and we have also taken relevant precautions and have a variety of systems in place to secure our website and the details held within the website.
Q: If I haven’t received payment what do I do?
A: If you have not received payment within 14 days of sending your referral registration e-mail and invoice, please contact your personal representative.
Q: Should I charge VAT?
A: If you are VAT registered you will need to charge VAT. If you are not VAT registered then you are not required to do so.
Timing & speed/deadlines
Q: How quickly will Quick Purchase Ltd contact the client?
A: We contact the client within 48 hours of receipt of the referral.
Q: How quickly can Quick Purchase Ltd make an offer?
A: We will generally make an offer within 24-48 hours, unless we require further information about the property i.e. lease details, survey, etc
Q: How quickly would Quick Purchase Ltd be able attend the property?
A: Upon the client accepting our indicative offer made over the phone we aim to meet the client within 24-48 hours, but this is entirely in the client’s hands. We do not apply pressure to our clients in any way.
Q: How quickly can Quick Purchase Ltd exchange contracts?
A: When we attend the property and make the final offer to the client face to face, if they are happy to proceed, we will supply a deposit and exchange contracts there and then.
Q: What deadlines/timescales can you meet?
A: Any, we are a cash funded organisation.
Q: How long does it take Quick Purchase Ltd to complete a transaction?
A: We are a cash funded organisation and can complete within days. Generally we have 28 days between exchange and completion; the timescale for completion will be set on the day of exchange and is a mutual agreement between the client and Quick Purchase Ltd.
Thank you for taking the time to read the above information and we hope that you found it informative. If you feel there is anything we could add or improve, please to do not hesitate to inform us.
