Questions
The things people
actually ask
Fees, viewings, rents and what happens if nothing is right. If your question is not here, email kola@mikebells.co.uk and it will be answered the same working day.
What does it cost to work with you?
A £500 search fee up front, credited against the sourcing fee at completion, and a sourcing fee of £3,500 to £10,000 agreed in writing before the search starts and payable on completion. We are not VAT registered, so no VAT is added.
Do you work outside the North East?
No. Our knowledge is of the whole North East — Northumberland, Tyne and Wear, County Durham and Teesside, and the towns within them. Outside that we would be guessing, so we decline the work.
Do you attend viewings?
The builder attends and reports on condition. Our role is the search, the numbers and the negotiation, not the viewing.
What if I do not like the property you send?
You are under no obligation. You only pay a sourcing fee on a property you choose to buy. If nothing is right, the search continues.
How do you know what the rent is?
We ask the agent for it in writing before a property goes to anyone. Asking rents on the portals run well above what tenants actually agree, so an agent's written figure beats a listing every time.
Do you guarantee a deal?
No. We do not guarantee a rent, a yield, a valuation or a resale price. Figures we send are evidence or clearly labelled estimates, and you should take your own legal, survey and tax advice.
Is a property sourcing business regulated?
Property sourcing is not currently a regulated activity. Our compliance page sets out how we handle identity checks, client money and complaints.
How quickly will you reply?
Within one working day, by email. We work by email rather than the phone so that nothing said in a conversation gets lost.
Can I buy through a limited company or SPV?
Yes. Tell us at the start and the figures will be built on that basis, because stamp duty and lending differ.
What happens after completion?
We hand over the paperwork, the compliance pack and the builder's report, and stay available for questions on the property.
Still deciding?
Start with the
cheapest option
Follow the newsletter for a few weeks. If the deals and the numbers look like your kind of thing, then send a brief.