Show Me Da Money

One of the reasons we went with the Serliana property investment club was that by taking on a large number of properties from the developer they are able to negotiate a considerable discount which they pass on to their clients (i.e. us!). In order to get the mortgage they arranged for a RICS surveyor to value the property to confirm that their discount was “real”.

Now we have brought the property at Park Central we now need to get the Serliana discount paid to us. So far, this is a lot simpler than I initially thought it would be, we just had to pass a copy of the mortgage broker and solicitors invoices to Susanna at Serlinana and to present them with our invoice (Fortunately they also provided us with a template document to use for the invoice). I passed her the invoice on Thursday, and received an email saying that it was all in hand but they needed to wait for the developer to pay them the agreed fees before they could it back to us. The original agreement said it would be paid within 30 days so I guess worse case is 30 days on from 5th of Jan so anytime before 4th/5th Feb is good.

I also spoke to Susanna and Lucy about how the letting was going. She said the feedback from the letting agency was they had had several people round but no takers yet. She said the fact that there wasn’t a parking space with the apartment may be putting some people off. Actually this cheesed me off a bit because when I was initially looking at the place I talked to Serliana about the lack of a parking space and they said that it wouldn’t matter as there was plenty of parking space around the development. I'm going to have to have a chat with the letting agency myself.