What is a property sourcing agent?
A property sourcing agent is someone who puts together property deals, which then are sold to property investors for a fee. A property source will search the local market and build a network of contacts looking for suitable properties that have the potential to make money for an investor. The role of a property sourcer is to act as a middleman between the buyer and the seller. Making it smoother for both parties.
Should i pay a deposit to a property sourcing agent?
Property sourcing will ask for a deposit as it is their only way of guaranteeing some sort of certainty that the buyer is going to go ahead with a given project.
And they need a degree of certainty, not only to protect themselves but also so that they can pass that certainty on to the seller.
A property sourcing agent is a middleman between a buyer and a seller and, as such, they need to be comfortable that both parties are in alignment and that the sale is likely to progress. Deposit fee's start from £2,500-£5,000.
When should the deposit be paid?
At what stage in the process the deposit will need to be paid to the property sourcer will depend on the property deal.