WHAT IS THE ASSISTED SALE SERVICE?

Spring has partnered with The Assisted Sale Company (TASC) to offer the Assisted Sale Service. This product is ideal for people who have a mortgage in place on their home. In an Assisted Sale, The Assisted Sale Company will guarantee a sale price and immediately on exchanging contracts pay you, in cash, a portion of the equity in your house. They then take over the mortgage and/or any other loans on your home with permission from your lender(s) and pay all your home’s bills while they market until it is sold. You can move onto your next home. Once they have sold the property, your mortgage will be paid in full and the sale will be completed.

In most cases this enables you to step away from the property with a cash lump sum without any more costs or stress.

Generally a TASC offer can be up to 5% more than our Home Buying Service offer.

Please note the Assisted Sale Service is not available in Scotland.
WHO ARE THE ASSISTED SALE COMPANY?

The Assisted Sale Company are not a part of Spring, but are close and trusted partners who follow the same code of conduct, high standards and process that we do. If you choose the Assisted Sale product, they will handle your inquiry through the sale of your property.

WHY DO I GET PAID MORE IN AN ASSISTED SALE?

Generally, a TASC offer will be about 5% more than our Home Buying Service offer. There are no additional legal or closing costs to pay.

TASC are able to pay you more in an Assisted Sale because they use your existing financing which is already in place instead of their own cash to purchase the property.

WHAT TYPE OF SITUATIONS DOES AN ASSISTED SALE WORK FOR?

There are many but an Assisted Sale is ideal when you don’t need the proceeds from your sale for an onward purchase. This could be because you’re moving into a rental home, because it is an inherited property or a buy-to-let. If can provide vacant possession and also wait to receive the full proceeds from your sale, an Assisted Sale will help you avoid the stress and hassle of a traditional sale.

CAN THE ASSISTED SALE COMPANY OFFER THIS PRODUCT ON ANY RESIDENTIAL PROPERTY?

Yes, they can, but typically it fits better for vendors with a mortgage ranging from 50% to 90% of the value of the property. The more cash TASC have to outlay, the lower the offer they can make you, so typically this is the range that works best.

WHAT IF I DON’T HAVE A MORTGAGE?

If you don’t have a mortgage, TASC can still offer you an Assisted Sale by paying you up to 30% of the guaranteed sale price immediately and the balance once they sell the home.

IN AN ASSISTED SALE, IS MY LENDER AWARE?

Yes! Your dedicated Assisted Sale Company Property Advisor will inform your lender that they are making third party payments until the property is disposed of. This agreement will be in place before exchanging contracts and they would not risk proceeding without your lender’s agreement. The property is marketed for sale immediately. The Assisted Sale Company are property selling experts so your mortgage is repaid in full once they sell your home.

WHAT HAPPENS IF THE PROPERTY DOESN’T SELL?

That’s an issue for The Assisted Sale Company (TASC) to deal with, not for you to deal with. TASC are contractually obliged to sell the property and make payments. If the worst case happens and they cannot sell for more than the agreed price then they can let the home for a short period with your permission in order to allow the market to recover. This is only a fall-back position and if after a time letting the market has not recovered then they may sell at a loss to recover the funds from the sale proceeds. The TASC promise is clear, they buy the property at the right price and aim to sell for a profit, but if they don’t, then they absorb this loss as part of their business model.

CAN YOU TELL ME MORE ABOUT THE ASSISTED SALE PROCESS & TIMELINE?

Here is an illustration of a transaction. Your transaction could take less or more time than this. Please note this is in working days.

  • 1

    day

    Submit information on the Spring website.

  • 2

    day

    Receive a call from a Spring Property Advisor to confirm your home’s details and learn more about our service.

  • 4

    day

    Receive your indicative offer which will include your Spring Home Buying Service Offer and your Assisted Sale Company offer.

  • 5

    day

    If you choose the Assisted Sale Company (TASC) offer, the TASC Property Advisor (PA) will call you to discuss further and explain the process to you in detail. If you still wish to continue, your PA will book in a RICS surveyor to visit your home.

  • 10

    day

    Your RICS survey is carried out.

  • 12

    day

    TASC receive the RICS report and share with you.

  • 14

    day

    TASC submit their final offer to you.

  • 15

    day

    You accept the offer and TASC send you the contract papers.

  • 16

    day

    TASC contact your lender to inform them they will take over payments.

  • 17

    day

    EXCHANGE CONTRACTS. TASC make their initial up-front payment to you and begin marketing the property, allowing you to walk away stress-free.

  • 18-22

    day

    TASC contact your utilities to take over payments.

  • 90

    day

    FINAL SALE COMPLETES! TASC complete on your house and your mortgage is paid off. If there is any remaining payment owed to you, it will be sent at this time.

HOW MUCH DOES IT COST?

Generally TASC's fee will be 5% less than Spring’s Home Buying Service. This fee will be all-inclusive with no additional legal or closing costs to pay. And if an Assisted Sale turns out not to be the solution you are looking for, you are always welcome to get back to us at Spring and take up our Home Buying Service Offer.

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