SOUTHREEF STEPS TO A SMOOTH PURCHASE

Southreef Properties would like your purchasing experience to be as smooth as it possibly can; to help you to achieve this we’ve produced a guide of the simple steps necessary to complete your journey to Southreef.

STEP 1 - RESERVATION

At the time of reservation you should be able to demonstrate that you are in a position to move forward, this means:

• You should be in a position to proceed with the purchase immediately.
• You are a first time buyer or have sold your own property.
• You have finances agreed in principle and are not dependent upon the sale of another property.

 Upon reservation, you will be required to:

• Pay a £1,000 (One thousand pounds) non-returnable deposit, which will be taken into account on exchange of contracts.
• Provide details of your solicitors and financial advisors, including contact name, address and telephone number.
• Provide documentation confirming your personal identity.

Shortly after reservation your solicitor will be provided with the contract and legal documentation and will carry out any necessary searches and/or enquiries on your behalf.  Exchange of contracts is required no later than 4 weeks of the reservation date.

The reservation form acts as a Lock-Out Agreement; within this period Southreef Properties Limited will not sell the property to another party.  However, if you fail to exchange contracts within the allotted time period, Southreef Properties Limited are entitled to put the property back on the market or offer it to another purchaser on the waiting list.

STEP 2 – EXCHANGE OF CONTRACTS

Upon exchange of contracts you will be required to pay a 5% deposit.  The £1,000 reservation fee already paid will be taken in to account as part of the deposit.

STEP 3 - COMPLETION

Southreef will be released on a phased basis and we will, of course, remain in contact with you to keep you abreast of what’s happening.  Once your phase in Southreef has been handed over, your solicitor will receive a notice stating that your purchase should be completed within 7 days.  On completion the balance of the purchase price will be paid together with any other disbursements such as Stamp Duty and apportionments of service charge etc.

You will be contacted to make an appointment to collect the keys and arrange handover to your new apartment.

OTHER INFORMATION

Under the Money Laundering Regulations 2003, it is the responsibility of Southreef Properties Limited to verify the identification of individuals who wish to purchase an apartment.  In order that we can satisfy these obligations, we will require each individual to provide relevant documentation, one item from list A and one item from list B:

List A

• Current signed Passport.
• Northern Ireland Voter’s Card.
• Current EEA or UK photocard Driving Licence or blue disabled driver’s pass.
• EEA Member State Identity Card.
• Current full UK driving licence (old version) – old style provisional licenses will not be accepted.
• Self-employed in the Construction Industry – photographic registration cards for individuals and partnerships CIS4, CIS4(P), CIS4(T), CIS6.
• Inland Revenue tax notifications (Note: P45s and P60s are not official Inland Revenue documents and are not acceptable).
• Benefit book or original notification letter from the relevant benefits agency confirming the right to benefits or state pension.

List B

• Confirmation from the Electoral Register search that a person of that names lives at that address.
• Utility bill or statement that is less than 3 months old.  Mobile phone bills are not acceptable.
• Original local authority tax bill (for the current year).
• Current UK Driving Licence (old full licence or new photocard licence) - if not used as evidence from List A.
• EEA Member State identity card or Northern Ireland Voter’s Card that contains an address – if not used as evidence from List A.