FAQs

What types of properties can you help acquire at discounted prices?

We focus on residential new-build properties direct from developers because we are able to achieve much greater discounts than buying from individual owner occupiers. Properties vary from studio apartments to houses of grandeur – contact us with your requirements and allow us to negotiate discounts on the developer’s advertised prices.

How do I buy property with the assistance of Blackstar Property?

Contact us via telephone or through the website to discuss your property investment needs and/or provide us with details of the property(s) you have already identified.

If following our initial discussion you would like us to act on your behalf to negotiate additional discounts and any other benefits that we may be able to secure from the developers we will ask you to sign and return a set of our Terms & Conditions.

Upon receipt of our signed Terms & Conditions we will make contact with the relevant developer with a view to negotiating the all important discounts on their publicised prices to ensure that you get a genuine reduction on the market value of the property(s).

We would draw your attention to the fact that during this period of negotiation we require you to allow us exclusive rights to work on your behalf. We request a 10 day period under this arrangement to avoid the scenario where a developer refuses to offer us any improved terms because they believe there to be interest in the same properties from other parties, thereby holding their prices and refusing other incentives. Ultimately this arrangement works better for you, hence its inclusion in our Terms & Conditions.

Once we have agreed discounts and any other incentives that we may be able to negotiate on your behalf, we will contact you to discuss our success.

If you are happy with what we have achieved and wish to proceed with the property purchase we will ask you to complete a Reservation Form and pay a £1,000 reservation fee.

We will advise the developer of your intention to proceed with the purchase at this point and thereby instruct them to put the relevant property(s) on hold for a period of 48 hours. This 48 hour period provides you with a cooling off period should you decide against proceeding with the purchase. If you decide that you no longer wish to undertake your purchase within this 48 hour period we will refund your £1,000 reservation fee without question.

If you still want to proceed after this 48 hour period we will forward your £1,000 reservation fee onto the developer, they will ultimately deduct this fee from the final balance that you will owe them on completion of your purchase.

Regrettably, after the initial 48 hour period we are unable to refund your reservation fee should you decide not to proceed with the purchase for whatever reason.

Once your property(s) have been reserved the conveyancing process will begin, whereby solicitors will draft contracts and conduct the relevant searches etc. Whilst we do not have our own in house conveyancing team we are able to provide names of solicitors who can act on your behalf. Similarly, we are able to provide details of independent financial advisers who will assist in arranging finance for your purchase.

Blackstar Property will continue to be involved in the process through overseeing RIC’s valuations of your property(s) and by placing you in contact with any other professional or service providers that you may require e.g. letting agents, furniture providers etc.

Once the conveyancing process is complete and finance is arranged you will be at a point where you can legally complete your purchase direct from the developer. At this point you will be able to move in or commence rental of your acquired portfolio.

How can Blackstar Property get discounts from developers?

Why can’t we approach developers and get the same discounts?

Why will developers offer such discounts?

The answer to all three of these questions is ‘economies’.

By approaching developers with offers for multiple properties they are instantly able to:

In addition, in the current market developers need to sell property to stay in business, this gives you and us an advantage when looking to negotiate discounts and improved terms.

The savings associated with all these factors are then able to be passed onto you by way of discount. Only by making bulk purchase proposals to developers are they likely to believe they can make such cost savings and therefore pass discounts back to you. This is why Blackstar Property are able to obtain greater discounts and agree improved incentives from the developers than you could get yourself.

If Blackstar Property do not charge me for their service, how do they get paid?

Blackstar Property charge the developer an agency fee for finding them a sale. We will invoice them following your legal completion on the purchase of the property – this keeps us incentivised to make sure that the sale process goes without a hitch for you and that the discounts and other benefits that we secured for you are genuine.

The only monies that we ask from you will be a non refundable reservation fee of £1,000 per plot (see below) which we pass onto the developer and is therefore deducted from your final purchase price.

What happens to reservation fees if I pay them and decide not to go ahead?

Apart from during the initial 48 hour cooling off period, reservation fees are not refundable once received, for any reason.

Do I buy the properties in my own name?

Contracts are agreed between you and the developer from whom you are buying the property; as part of the contract drafting process you will be able to instruct your solicitor to include your personal names or those of a company. Please note that we would always recommend that you take legal and financial advice if you wish to acquire property through a corporate entity.

Can I use my own solicitor and/or mortgage broker?

Of course, you are not obliged to use any of Blackstar Property’s contact legal or financial advisers. We do however have such contacts along with letting agents and other property related service providers should you require them.

Does where I live or my personal status matter?

Blackstar Property are delighted to negotiate discounts on property cost for anyone, no matter where you live, what your residency status (i.e. if you are foreign investor, or a non UK national operating within the UK) or your personal status. We would however recommend that you seek legal and financial advice prior to any intended property purchase if you believe your status could impact your ability to raise mortgage finance.

Should you require assistance in this regard we are able to place you in contact with a range of solicitors, accountants and independent financial advisers.

How are Blackstar Property different to other property finders?

Blackstar Property are different in that they do not charge you a membership fee or any other kind of fee for their services.

All we ask is that following our initial contact and return of our signed Terms & Conditions you allow us a 10 day window to work exclusively on your behalf to negotiate discounts and any other incentives from the property developers.

This period of exclusivity avoids the scenario where a developer refuses to offer us any improved terms because they believe there to be interest in the same properties from other parties, thereby holding their prices and refusing other incentives.

Unlike other property finders we do not insist on you using our own financial advisers or our own mortgage products. We are simply here to negotiate an improved deal for you by using our contacts and the economies of buying in bulk.

Blackstar Property - part of the Link Property Solutions network.

www.linkpropertysolutions.co.uk