Welcome to The YouSold Assurance Scheme! We're committed to providing you with peace of mind throughout the property purchase process. Please carefully review the following terms and conditions:
1. Eligibility and Utilisation:
To benefit from The YouSold Assurance Scheme, you must select one of the estate agent's appointed mortgage brokers and solicitors within the specified timeframes outlined in our transaction milestones.
If you choose only the agent's appointed mortgage broker, you'll be covered against milestones related to mortgage matters. Similarly, selecting only the agent's appointed solicitor provides coverage against legal milestones related to conveyancing.
- Delays caused by factors within your control will void the scheme, and you'll lose protection against your transaction fee.
2. Mortgage Offer Deadline:
If, despite adhering to the aforementioned conditions, the agent's appointed mortgage broker fails to secure a mortgage offer for you within 45 days of your offer being accepted, you'll be entitled to a full refund of your transaction fee, provided all previous milestones have been met and you have assisted the mortgage broker by providing any relevant requested documents required to obtain a mortgage offer.
Alternatively, subject to seller agreement, you may be granted an extension to obtain a mortgage offer and continue with the purchase.
3. Solicitor Documentation Deadline:
If, despite compliance with the conditions, the agent's appointed solicitor fails to send out sufficient paperwork in time for instruction, a reasonable additional period equal to the delay will be granted to resolve the matter. Similarly you will be granted additional time in relation to this to add funds on account (with solicitor) and order local searches.
4. Seller Withdrawal Assistance:
In the event that a seller withdraws from the transaction, YouSold will assist to the best of our ability in pursuing the seller for any incurred lost costs.
5. TRANSACTION MILESTONES
The following transaction milestones must be met within the specified timeframe (time frame starts from upon offer acceptance):
- Select a solicitor: 2 days
- Select a mortgage broker: 3 days
- Provide valid ID to estate agent: 3 days
- Complete solicitor instruction forms: 6 days
- Confirm if a private survey is required: 7 days
- Funds on account (with solicitor): 7 days
- Searches ordered: 8 days
- Broker to submit mortgage application: 8 days
- Mortgage valuation survey booked: 21 days
- Mortgage valuation taken place: 21 days
- Survey successful: 21 days
- Mortgage offer received: 21 days
- Private survey taken place: 23 days
- Addressed any concerns from survey: 25 days
- Private survey confirmed as satisfactory: 28 days
- Exchange (subject to contract): 72 days
- Completion: 93 days
We aim to provide you with comprehensive support and protection throughout your property purchase journey. If you have any questions or require further clarification regarding The YouSold Assurance Scheme, please don't hesitate to contact us. Your satisfaction and confidence in our service are of utmost importance to us.
