Prime Purchase

	Who do you act for?

	We act for you, the buyer, who pays our fee. The selling agent is paid by the vendor, for whom they act.

	Do you source property from all estate agents?

	Yes, we have good relationships with all the estate agents in the areas we cover, and buy property from any firm.

	Why would an agent or other contact tell Prime Purchase about a property before it is advertised?

	First, the selling agents know we have a reputation for acting on behalf of “serious” buyers and that any information provided to us will remain confidential. In addition, there is an increasing trend among sellers to offer their houses privately rather than embark on an open market advertising campaign. We are also often aware of forthcoming sales before selling agents, through our network of local contacts and presence in the areas in which we operate. In 2007 about 60% of our acquisitions were agreed off market prior to the property being advertised.

	Why would I need to have a buying agent when I can visit estate agents myself?

	Firstly, because we will have access to properties before they come to the open market, and therefore have a chance to buy them before the competition. Secondly, in Kensington and Chelsea for example, there are 250 individual agents; because we are working on your search full time we can build stronger relationships with these agents than you are likely to be able to do.

	How do you get paid?

	We are paid by you, the buyer, for whom we act. When a client is taken on a registration fee is paid. A purchasing fee is also paid (normally based upon a percentage of the purchase price) on the successful exchange of contracts.

	Which areas do you cover?

	We specialise in central London and our country teams focus on houses from the Midlands down to the south coast and East Anglia across to Cornwall. On larger sporting estates and farms we cover the entire UK.

	Do you cover the whole market?

	No. We specialise in properties in both central London and the country with values generally in excess of £1 million.

	Do you buy properties direct from owners?

	Occasionally. However we find that an agent’s involvement on the other side is an advantage.

	What happens if two of your clients wish to buy the same property?

	In reality this occurs extremely rarely – we have had only three incidences in the past six years. Nevertheless, we have a protocol in place whereby each party is made aware of the property and given the opportunity to view. We will then act for one party and recommend the other to another buying agent. If they are successful they would not be charged a fee by Prime Purchase. The key is that everybody is given the same opportunity.

	How long does a normal search take?

	In 2007 the average length of search for clients in London was 3.4 months and for country houses, within six months.

	Does Prime Purchase simply find property?

	Many think that we simply find property. Well of course we do and we find it early – in 2007 over half of properties acquired for clients were secured before they were advertised. However, our service goes much further; it includes thorough due diligence, objective advice, handling all negotiations and analysis of value – working with your solicitors right through to completion, and beyond.

	Can you recommended other advisors?

	We frequently provide clients with access to a range of reputable solicitors, specialising in property acquisition, together with structural surveyors, project managers, builders, architects and interior designers.

	Can you keep my identity secret?

	We take client confidentiality extremely seriously, both before, during and after purchase. Our client’s identity can be kept secret during the search process by the use of a pseudonym, if you so wish.

	Do you find rental properties?

	We specialise in clients looking to purchase property only, but we often provide clients with access to other companies who focus on the rental market.