How it Works
This product is essentially a joint venture with an exchange and delayed completion
WHAT IS THE ASSISTED SALE SERVICE?
The Assisted Sale Company (TASC) are pleased to offer the Assisted Sale Service. Availably throughout England and Wales*, this product is essentially a joint venture with an exchange and a delayed completion. It is ideal for people who have a mortgage in place on their home and do not have an immediate onward purchase. In an Assisted Sale, TASC will guarantee a sale price and immediately on exchanging contracts make you, an upfront cash payment from a portion of the equity in your house, this payment is made direct to your nominated bank account and not held by lawyers or held in escrow. We then take over the mortgage and/or any other secured loans on your home with permission from your lender(s) and pay all your home’s bills while we market the property, until it is sold. You can walk away stress-free at this point. Once we have sold the property, your mortgage will be paid-off in full and the sale will be completed.
In most cases this enables you to step away from the property with a cash lump sum without any more costs or stress.
Generally, a TASC assisted sale offer can be up to 5% more than a typical Cash Buying offer.
How it Works
Step 1
Contact TASC for your FREE no obligation quote
Step 2
Receive your indicative offer from TASC
Step 3
Accept indicative offer and we will arrange RICS survey.
Step 4
We contact your lender/s and take over the mortgage payments
Step 5
Sign contracts and we give initial upfront payment to you
Step 6
TASC formally starts marketing the property, and you are free to move on.
Step 7
Sale completes, mortgage is paid and any remaining payment is issued.
WHO ARE THE ASSISTED SALE COMPANY?
The Assisted Sale Company are close and trusted partners of Spring (springmove.co.uk), we are not part of Spring but follow the same code of conduct, high standards and process that they do. If you choose the Assisted Sale product, TASC will handle your inquiry throughout the sale of your property.
WHY DO I GET PAID MORE IN AN ASSISTED SALE?
Generally, a TASC offer will be about 5% more than a typical cash offer via a cash buying company. There are no additional legal or closing costs to pay.
TASC are able to pay you more in an Assisted Sale because they use your existing financing which is already in place instead of their own cash to purchase the property.
WHAT TYPE OF SITUATIONS DOES AN ASSISTED SALE WORK FOR?
There are many but an Assisted Sale is ideal when you don’t need the proceeds from your sale for an onward purchase. This could be because you’re moving into a rental home, because it is an inherited property or disposing of a buy-to-let. If you can provide vacant possession and can also wait to receive the full proceeds from your sale, an Assisted Sale will help you avoid the stress and hassle of a traditional sale.
CAN THE ASSISTED SALE COMPANY OFFER THIS PRODUCT ON ANY RESIDENTIAL PROPERTY?
Yes, we can, but typically it fits better for vendors with a mortgage ranging from 50% to 90% of the value of the property. The more cash TASC have to outlay, the lower the offer they can make you, so typically this is the range that works best.
WHAT IF I DON’T HAVE A MORTGAGE?
If you don’t have a mortgage, TASC can still offer you an Assisted Sale by paying you up to 30% of the guaranteed sale price immediately and the balance once they sell the home.
IN AN ASSISTED SALE, IS MY LENDER AWARE?
Yes! Your dedicated TASC Property Advisor will inform your lender that they are making third party payments until the property is disposed of. This agreement will be in place before exchanging contracts and they would not risk proceeding without your lender’s agreement. The property is marketed for sale immediately. The team at The Assisted Sale Company are property selling experts, so your mortgage is repaid in full once they sell your home.
WHAT HAPPENS IF THE PROPERTY DOESN’T SELL?
That’s an issue for The Assisted Sale Company (TASC) to deal with, not for you to deal with. TASC are contractually obliged to sell the property and make payments. If the worst case happens and they cannot sell for more than the agreed price, then they can let the home for a short period with your permission in order to allow the market to recover.
This is only a fall-back position and if after a time letting the market has not recovered then they may sell at a loss to recover the funds from the sale proceeds. The TASC promise is clear, they buy the property at the right price and aim to sell for a profit, but if they don’t, then they absorb this loss as part of their business model.