Mayfair Group
Global Investments – Local Reach
Mayfair Group has developed a unique and simple way for investors to capitalise on the Global Real Estate downturn.
We Specialise in hands free investments that can provide investors Gross Yields of up to 25% per Annum. Our Investment properties offer up to 50% equity from day one thus giving our investors strong return on investment.
For further information please Contact
Us.
Costs & Reservation Process
While each State in the US conducts real estate transactions to their own guidelines, the overall purchase process surrounding buying a property in the US is still quite similar to the UK. For the State of Michigan, your transaction will be conducted with the assistance of a US Lawyer and UK lawyer, working on your behalf.
Once the purchase has ‘closed’ (completed) each property is registered in the name of your choice. After closing you will then receive a Warranty Deed, Free and Clear Title, Title Insurance and all related legal documentation.
STAGE 1: Securing/Pre Closing from the bank (Expenditure based on a 3 bed house $41,650)
STAGE 1 TOTAL $4,165 (Property Secure Fee)
The property will now be secured with your property secure fee, and documentation for closing prepared
STAGE 2: Final payment to conclude the transaction with all work listed below payable within 7 days of securing the property
STAGE 2: $37,405 (outstanding balance)
Title charges cleared
City tax
Recording tax
Title insurance Fee
Bank charges
First Year Summer tax
First Year Winter tax
Connection of utilities
Refurbishment of Property internally and externally
Occupancy certificate
First year building and liability insurance
Sourcing and placing tenant costs
Ongoing annual costs
Summer / Winter Property Tax up to $3,500 PA
Buildings Insurance up to $700 PA
Property Management Fees up to $1,200 PA
To reserve your unique bargain USA property with high yields, please complete the reservation form carefully and return this form to Mayfair Group Ltd. Please complete, scan and email to sales@mayfair-group.com.
Sales Procedure:
Step (1) Select 4 properties in priority order and complete the purchase agreement with full details including all KYC (know your client) documents and send to Mayfair Group.
Step (2) Up on completion of purchase agreement a deposit of 10% would be due which would be paid into Mayfair Group's client account. Upon the property bid being confirmed by the bank (approximately two weeks) the final 90% payment will become payable and must be paid with in 7 days in order to conclude the transaction.
Step (3) Solicitors or a titlement closing company in the States and UK will commence all legal work and searches on the property and the clearing of any charges on the house. An inspection by the City inspector would follow and a clearance certificate would be issued.
Step (4) Documents will be returned to you to be signed once everything is in order. These again need to be returned to Mayfair Group to be forwarded by courier to the solicitors or closing company in the States / UK.
Step (5) Two weeks later the title deeds will be delivered to you. Mayfair Group then commences refurbishment and on completion and the securing of the certificate “passed for occupation”we would assign the letting agents to place tenants. The management service would commence at this point.
From start to finish you would be looking at completion within 8 weeks (and perhaps even 6 weeks).