Terms & Conditions (Property Sourcing)

TERMS & CONDITIONS - PROPERTY SOURCING

Simon JP Taylor Enterprises Ltd - Responsibilities:

It is the customers responsibility to obtain a mortgage (if required). If a mortgage is delayed or refused, Simon JP Taylor Enterprises Ltd will hold the fee and aim to provide a like for like replacement within 6 months of signing the terms and conditions and once a mortgage has been approved.
A member of Simon JP Taylor Enterprises Ltd (or an appropriately trained representative) will carry out a full inspection of the property and record details in a due diligence report. We will carry out our due diligence to the best of our ability.
Simon JP Taylor Enterprises Ltd develop an educated estimate of the following (as appropriate to the property deal): rental figures, occupancy rates, property outgoings, refurbishment/renovation costs, furniture costs, required fees and return on investment. However, these are suggested and estimates only, we will not be held accountable for these figures as we are not financial advisors.
If the property falls through due to unforeseen circumstances with either the property or vendor/landlord, Simon JP Taylor Enterprises Ltd aim to replace the property with one of similar standards and providing similar returns. If, however the property deal falls through due to you, the investor causing this to do so, then Simon JP Taylor Enterprises Ltd hold no liability and will not provide you with a replacement deal.
Simon JP Taylor Enterprises Ltd take no responsibility for any future problems with the economy, any pandemics, the market, tenants, or any unforeseen issues that may arise. We cannot accept any cost associated with rule changes regarding HMO/multi-lets, including licensing and serviced accommodation. Please ensure you understand and are happy with the local rules before signing this agreement.
Simon JP Taylor Enterprises Ltd will not be liable for any fees, costs, or charges for refurbishment. Our refurbishment costs are estimated only to the best of our ability (as applicable).
Simon JP Taylor Enterprises Ltd will store all personal data and documentation as per ICO data protection regulations.
Simon JP Taylor Enterprises Ltd reserve the right to refuse to work with any investor suspected of fraudulent activities.
Simon JP Taylor Enterprises Ltd will not be held responsible for the success of a property. Simon JP Taylor Enterprises Ltd does not guarantee rental income or tenants. The customer is required to carry out their own due diligence.

If you are signed up to one of Simon JP Taylor Enterprises Ltd mentorship programmes which includes Simon JP Taylor Enterprises Ltd sourcing and offering, you an agreed amount of property deals inclusive to your package then please read the following and take note:

Your mentorship and support is for the duration of 12 months. The time it takes to source you your inclusive deals is based on the market conditions at the time & may take longer than this. An example of this, but not limited to, could be pandemics, lockdowns, recessions, or other property market fluctuations.

Customer - Responsibilities:

The customer must provide requested documents to Simon JP Taylor Enterprises Ltd for legal purposes (Anti-Money Laundering due diligence) and must inform us of any unspent convictions for fraud or related offences/current investigations for fraud.
The customer must provide all documents required by the letting or estate agent in a timely manner. If the property falls through due to the customer failing to provide the documents requested by the agent in a timely manner, no refund or replacement will be given.
The customer agrees to carry out all business through Simon JP Taylor Enterprises Ltd in relation to the acquired property. Any attempt to bypass Simon JP Taylor Enterprises Ltd and deal directly with the Agent or Landlord will result in a £4,750+VAT fee payable to Simon JP Taylor Enterprises Ltd for finding and securing the property.
The customer must acknowledge that the achievable monthly rent proposed is an estimation only. The figure is not guaranteed rental income and it is the customers responsibility to carry out their own due diligence.
The customer must adhere to our strict social media rules and not share any business transactions over any social media platform or forum. Simon JP Taylor Enterprises Ltd reserve the right to pull out of any transaction and withhold the fee if this rule is broken.

Once Simon JP Taylor Enterprises Ltd have secured you a property deal and introduced you to the estate agent and/or landlord, it is imperative that this contact stays exclusive to Simon JP Taylor Enterprises Ltd. If, however you do go on to secure additional property deals with the contact that Simon JP Taylor Enterprises Ltd has introduced you to, then this will be classed as one of your inclusive property deals as part of your package.

It is important that you understand that you will be presented and offered said property deals with adequate cash flow monthly profit. It is however your choice to accept, or refuse said deal(s). If you do however refuse any deal that Simon JP Taylor Enterprises Ltd have offered you and the property deal is of adequate profit as confirmed by Simon JP Taylor Enterprises Ltd, then this indeed will be classed as one of your inclusive deals as part of your package.

Your package includes Simon JP Taylor Enterprises Ltd sourcing said property deals for you but does not include added fees that come with this. For example, Estate Agency Fees, Admin Fees, Deposits, etc. These costs are your responsibility and must be paid by you.

Property details:

Simon JP Taylor Enterprises Ltd will provide you with the following property details once the full finder’s fee has been paid.

Full postal Address
Online agents link (if available)
Full details of selling/letting agent
Full details of any property management or letting agents that we have sourced
Full breakdown of figures on a spreadsheet
Full due diligence report
Any additional pictures and video (if available)

Property Valuations:

Simon JP Taylor Enterprises Ltd will always negotiate the best possible price when securing a deal. This will be approved and confirmed in writing. We highly recommend that you have a full property valuation and survey carried out.

Down Valuations – On occasions properties may get down valued at point of survey. This happens for many reasons and cannot be prevented. If this occurs, please understand that this is generally a bricks and mortar valuation. If the property is an up and running HMO property it is unlikely that the surveyor will allow additional margin for conversions, furniture, and dressings.

On the rare occasion that a property is down valued we urge the investor to factor in the costs they would have to incur after completion in converting and furnishing the property. If the investor is unable to complete the purchase due to a down valuation, then Simon JP Taylor Enterprises Ltd will retain the fee and replace the property with a suitable replacement on a like for like basis. i.e.; 4 bed HMO for another 4 bed HMO.

Conversions and Refurbishments:

Simon JP Taylor Enterprises Ltd are not responsible for any costs incurred in converting or refurbishing the property. Simon JP Taylor Enterprises Ltd can offer a full hand’s off service in some cases should you require this which is facilitated by a third-party company. Any dealings you have with this company are entirely between you (the investor) and the third-party company. We are not responsible for any costs or charges incurred.

We will always give an estimate only for conversion and refurbishments. This is an estimation only and should not be taken as a guarantee that no other work will be required.

Replacement Properties:

Simon JP Taylor Enterprises Ltd will offer a replacement property in the following circumstances.

If a vendor withdraws from the sale at any time during the purchasing process no refunds will be given.
If the property falls through due to unforeseen circumstances with either the property or vendor/landlord, Simon JP Taylor Enterprises Ltd aim to replace the property with one of similar standards and providing similar returns. If, however the property deal falls through due to you, the investor causing this to do so, then Simon JP Taylor Enterprises Ltd hold no liability and will not provide you with a replacement deal.
A property is down valued more than 10% of the agreed purchase price.
If the vendor decided to withdraw due to issues which arise from a property survey which deem the property uneconomical.
If the property is deemed un mortgageable by the surveyor (we will need to see proof).
If the investor gets declined lending, we will offer a replacement property when they can obtain funding.

If Simon JP Taylor Enterprises Ltd opt to provide a replacement property, we will offer you any of the properties we have that match your original purchase/letting agreement before we offer these to our other investors.

Changes to the Terms and Conditions:

Simon JP Taylor Enterprises Ltd reserves the right to change these terms and conditions as we may deem necessary from time to time or as may be required by law. Any changes will be immediately posted on this website, and you are deemed to have accepted the terms and conditions on your first use of this website following the alterations.

Company: Simon JP Taylor Enterprises Ltd

Company Number: 14700147
Address: 10 Milton Court, Nottingham, NG15 9BD

Email: info@simonjptaylor.com

Here is our compliance details:

Property Redress Scheme No: 143118300

Insurance Policy Details: Prosure Solutions Limited - 143118300

Information Commissioners Office No: ZB791853

National Residential Landlord Association No: 3151384