Once we pay out the advance, it is a condition of our contract, that you will be required to vacate the property. If there are any circumstances out of your control which mean that you cannot vacate on the same day then we may, on occasion, be able to be flexible with timings.
You must use the proceeds of the advance to pay off the existing mortgage on your property. The advance will then be secured against the property by way of a first legal mortgage. Full details and terms are available on request.
Note that once you have drawn down the advance, Nested will have the right to set the list price for the property, and will have the final say on whether or not to accept an offer on the property. You must also grant Nested an option to purchase the property for the value of the advance if it gets towards the end of the 12 month advance period without selling.
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