In the context of UK property, an assisted sale is a scheme designed to help homeowners who are struggling to sell their property. It involves partnering with a property company or an investor who agrees to buy your property at a discounted price and then sell it on the open market. Here's a general overview of how an assisted sale typically works:

1. Initial Assessment

You approach a property company or investor specialising in assisted sales. They assess your property and evaluate its market value.

2. Discounted Purchase

If the property company is interested in your property, they will make you an offer below the market value. The discount is usually determined by factors such as the property's condition, location, and market demand.

3. Agreement and Legal Process

If you agree to the offer, you sign a contract with the property company, outlining the terms and conditions of the assisted sale. It's advisable to consult a solicitor or legal professional to ensure the agreement protects your interests.

4. Marketing and Sale

Once the agreement is in place, the property company takes over the marketing and sale process. They typically invest in refurbishing and improving the property's appearance to maximize its selling potential.

5. Open Market Sale

The property company lists the property on the open market, usually with the help of estate agents. They aim to sell it at a price higher than what they purchased it for, covering their costs and making a profit.

6. Proceeds Distribution

Once the property is sold, the proceeds are distributed between you and the property company. The company recoups their investment, deducts any costs incurred during the process, and pays you the remaining amount.

Conclusion

It's important to note that the specific terms and conditions of assisted sales can vary depending on the agreement with the property company or investor. It's crucial to carefully read and understand the terms before proceeding with an assisted sale. Additionally, seek independent legal advice to ensure you're fully informed about the implications of the agreement.

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