Homes of the Month

Orion Homes Assured Sale Scheme

Need a buyer for your property?

Under Orion Homes Assured Sale Scheme we:

• Guarantee the price of your existing property.
• Put it on the market at a very realistic price to achieve a quick sale.
• Make up any shortfall in the actual sale price of your home.
• Pay all Estate Agent costs

Simply:

1. Choose the Orion home which you wish to purchase.
   As long as your existing home is not worth more than the new Orion home, we may be able to sell it under our Assured Sale Scheme.
2. Pay your initial reservation deposit to our Sales Negotiator.
   Two Independent Valuers will then be asked to inspect your property.
3. Orion Homes make an offer for your property based on the realistic market value recommended by the two Valuers
   This offer is the Guaranteed Market Value.
4. If our offer is acceptable the balance of the reservation deposit should be paid to our Sales Negotiator to confirm the sale. We will instruct our Agent to prepare a Home Information Pack and your property will be placed on the market and our solicitor will be instructed to forward a draft contact to your Solicitor.
   This Contract should be exchanged conditionally within 15 working days and will be subject to the sale of your property, receipt of a mortgage offer for the purchase of your new Orion home and receipt of Local Authority and Mining Searches. The cost of the Home Information Pack (£325 plus VAT) will be collected by your solicitor on legal completion.
5. Following exchange of conditional Contracts.
   We will begin to advertise your property over a period of 8 weeks at a very realistic price, which could be lower than the Guaranteed Market Value already offered to you.
6. If your property is sold for less than the Guaranteed Market Value.
   We will make up the difference. As soon as a buyer has been found for your property, your solicitor will be instructed to sell the property.

Full written details of Orion Homes Assured Sale Scheme Conditions are available from our Sales Negotiator.

Orion Homes Part Exchange Scheme

You've found the house you want to buy and can't wait to move in...

WithOrion Homes Part Exchange Scheme it's possible to move into your new home within 6 weeks.*

Simply:

1. Choose the plot which you prefer and check with our Sales Negotiator that Part Exchange is available on that plot.
   As long as your existing home is worth no more than 75% of the purchase price of the Orion home, we may be able to purchase it under our Part Exchange Scheme.
2. Pay your initial reservation deposit to our Sales Negotiator.
   Two Independent Valuers will then be asked to inspect your property.
3. Orion Homes make an offer to purchase your existing property based on the realistic market value recommended by the two Valuers.
   This is the price at which the valuers say that the property will ultimately sell for. It is not the price at which the property would be marketed initially. Our offer to purchase your existing property would be subject to contract and a satisfactory Homebuyers Report.
4. If our offer is acceptable the balance of the reservation deposit should be paid to our Sales Negotiator to confirm the sale. We will instruct solicitors, arrange for a Chartered Surveyor to carry out a Homebuyers Report and request that a Home Information Pack is prepared. Your existing property will be placed on the market.
   We would ask that you help us to sell your property quickly by being available for viewings - if they are at a reasonable time and by prior appointment. You are not responsible for any of the Estate Agents costs. The cost of the Home Information Pack (£325 plus VAT) will be collected by your solicitor on legal completion.
5. Moving in...
   As soon as the legal matters involved in the sale of your existing home and purchase of your new Orion home are complete, you can move in - regardless of whether we have sold your property or not.

Full written details of Orion Homes Part Exchange Scheme Conditions are available from our Sales Negotiator.

* Subject to stage of construction.

Orion Homes Equity Share Scheme

1. The Orion Homes First Step Scheme is available on Orion Homes new properties and Orion Homes part exchange properties.
2. The Scheme is available to first time buyers, cash purchasers and Purchasers who have sold their existing property to a completed chain. In certain circumstances it can be used to assist a sale where a part exchange property is involved, perhaps where the part exchange property is low value compared to the price of the new property.
3. It is not available to property investors.
4. The purchaser acquires 100% of the property, (i.e. 100% of the legal title to the property).
5. It is recommended that a mortgage be obtained through an Orion Homes approved mortgage broker who will have obtained approval for this Scheme with various mortgage lenders.
6. The purchaser obtains a mortgage for the First Step Scheme price, which will be 75% of the full purchase price.
7. Orion Homes will have a Second Legal Charge (known as the Equity Share Mortgage) against the property. A charge of £150 plus VAT will be payable by the purchaser on legal completion for the setting up of the Equity Share Mortgage.
8. The First Step Scheme runs for a maximum of 10 years from the legal completion date.
9. No monthly interest or mortgage repayments will be made to Orion Homes in respect of the Equity Share Mortgage.
10. If a Purchaser wishes to repay the Equity Share Mortgage the Purchaser would repay to Orion Homes the greater of:
    1. 25% of an agreed open market valuation or
    2. the original Equity Share Mortgage figure
11. If the property is sold the Purchaser will repay to Orion Homes the greater of:
    1. 25% of the sale price or
    2. the original Equity Share Mortgage figure.
12. If the property is occupied by anyone other than the Purchaser, at any time within the term of the Equity Share Mortgage, the Purchaser will repay to Orion Homes the greater of:
    1. 25% of an agreed open market valuation or
    2. the original Equity Share Mortgage figure.
13. If the Equity Share Mortgage is not redeemed until the end of the term, the Purchaser will repay to Orion Homes the greater of:
    1. 25% of an agreed open market valuation or
    2. the original Equity Share Mortgage figure.
14. The Purchaser will be responsible for all costs incurred when redeeming the Equity Share Mortgage.