Exchange With Delayed Completion
Whether you’re a Landlord or a property owner EDC (Exchange with delayed completion), gives you a great deal of flexibility with your property.
Benefits of EDC
- Responsibility for property removed
- Mortgage paid
- Any issue with tenants resolved on your behalf
- Property fully managed
- All repairs/renovations completed
- Sale completed on your behalf
- No property worries or hassle
- Works with negative equity property
- Any property considered
- Gives you huge flexibility
What is an EDC?
EDC (Exchange with Delayed Completion) is simply a lease agreement where a monthly lease payment is made to cover all costs secured against the property; this is made directly to the mortgage/loan provider or to the seller. An option to buy allows for the eventual completion of the purchase, at a date within the agreed timescale, or earlier. The length of the contract can be set at duration to suit the vendor of the property, the longer the contract the more secure.
What is the timescale for exchange of contracts?
Our aim is to exchange contracts within 3-4 weeks of contacting the vendor, we often exceed this.
Are the contracts up to date?
Our solicitors are highly professional and experienced in UK property law and they make sure that all contractual agreements are in compliance with The Law Society.
What type of tenants do you have?
We currently have a waiting list of over 100 tenants, so the property will be let instantly. These tenants are all vetted before selection and are chosen based on reliability.
Do you have any hidden fees or costs?
There are no fee’s or charges to the agency or vendor of the property. We act with transparency and at no point during sale, purchase or after do we charge fees to anyone.
With Cranfords Property Services, you receive a regular, fixed, guaranteed rent and are secure in the knowledge that your property will be sold on your behalf, all you responsibilities are absolved.
Whatever your requirements, whatever the condition, we consider any property for EDC.