Frequently Asked Questions | Flambard Williams | Off Plan Property

Take a look at our Frequently Asked Questions below, and our answers. If your question is not answered below, or you have any questions about our new developments, please don’t hesitate to contact us directly.

Who are Flambard Williams?

Flambard Williams are an established international property brokerage. Founded in 2012 the company has cemented its position within the sector, becoming one of the go-to companies for clients either looking for a buy-to-let investment or a residential property for themselves.

How do Flambard Williams make its money?

We are a pure commission based company. For any new build, the developer renumerates us directly. For an existing property, we charge a commission to the seller (except where the property was purchased through us as a new build).

What is off-plan?

An off-plan development is simply one which is yet to complete. The development can be sold at various stages of the build from the very early stage where planning is about to be granted to just before completion.

Do Flambard Williams only deal with off-plan?

No, Flambard Williams deal with both off-plan and existing properties.

What are the advantages of purchasing off-plan?

Purchasing off-plan has numerous advantages. First and foremost you will usually benefit from purchasing your property below market value. This can sometimes be as much as a 15% discount. You also get to pay in stage payments rather than one lump sum and importantly you can choose your furnishings from the start, should you wish to. If you purchase at the start of the build you will be able to benefit from choosing your unit and receiving the highest specification apartment in the development, which may have better views and be on a higher floor.

What are the disadvantages of off-plan?

Like any investment, there are also disadvantages. The biggest disadvantage is if the development does not complete. If this is the case then you are likely to lose all of the money you have used so far. At Flambard Williams we do our best to mitigate this by choosing the developers we feel comfortable using, however, this should not constitute full due diligence and advise all clients to complete their own due diligence on each development. Another disadvantage is that the development could be delayed and whilst you are waiting for completion you are not getting a return on your investment.

What if the developer goes bust?

More often than not the client will lose the money he/she has put in so far. However, if the development is nearing completion then it may be worthwhile all purchasers teaming together to tender for another developer to complete the build. It is important to add that Flambard Williams have never experienced this.

Do you only deal buy to let?

No, we deal in both buy to let and residential properties throughout the UK.

What is the payment structure?

The payment structure varies on each development. Speak to your broker to ask what the payment structure is on a specific unit for more information.

Is the deposit refundable?

No, unfortunately, deposits are non-refundable.

Can I use my own lawyer?

Yes, or you can use one of our recommended ones.

What does ‘Exchange’ and ‘Complete’ mean?

An exchange is the first stage of the property purchase where you pay your ‘exchange fee’. At this point, the property is yours regardless of the stage of the build. Complete is where you effectively get the keys.

What are the lawyers’ fees?

This varies on each lawyer and, of course, each development. A ball-park figure will be £1,200.

Can I get a discount?

No, unfortunately, we cannot give discounts.

How easy are the properties to sell?

The ease of the sale depends on market conditions. At present, it is a seller’s market so all properties are selling with ease. Your personal consultant will be able to offer you more information about the most secure locations to invest, along with current property news.

Are there any restrictions when selling?

No, there are no restrictions.