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Terms and Conditions
- MRI sells properties to clients at their vacant possession (empty) valuation figure. We will provide an independent valuation from an approved valuer. Please note that different mortgage lenders have different acceptable valuers, consequently our valuer may be suitable for some lenders but not for others.
- MRI will charge an acquisition fee of 3% of the property purchase price.
- Prospective clients can view properties from outside. However, should you wish to view the inside of the property, due to the inconvenience and possible disruption to the tenant, there will be a viewing fee charged of £200. This will be deducted from your 3% MRI acquisition fee.
- Properties are managed through our sister company Hot Property Solutions Limited (HPS). HPS charges a management fee of 10% of the rent if collected on a monthly basis and 12.5% of the rent if collected weekly. On new lettings HPS charges the first months rent as a letting fee (when you buy an already tenanted property from MRI this fee is not payable). HPS can deal with all other property management matters on your behalf by arrangement including, where applicable, annual gas safety certificates, any repair and refurbishment works, maintenance works and inventory of furnishings.
- Most of our properties will be tenanted on 6 month Assured Shorthold Tenancy agreements with rent being paid monthly in advance. HPS will also hold one months rent from the tenant as a deposit.
- Please note that the information on this website is intended as general guidance of the services of Midland Regional Investments Limited (MRI) and Hot Property Solutions Limited. It does not constitute accountancy, tax, investment or other professional advice. Before purchasing a property from MRI we recommend you consult a suitably qualified accountant, tax specialist, independent financial adviser or other professional adviser.
- MRI does not accept any responsibility or liability for loss which may arise from reliance on information contained on this website.
- MRI wish to emphasize that the information contained herein does not constitute an offer or contract. Purchasers must satisfy themselves by inspection or otherwise as to the correctness and/or accuracy of any or all of the statements.
- MRI will not to pass your details on to any third parties without your permission.
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