Sales Service - Thomas Michael

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We provide the best possible advice to guide sellers throughout all aspects of their sale and our focus is on providing a bespoke and personalised service. We believe in explaining the thinking and reasoning behind our valuations and advice and the different options available to our clients in the marketing of their property.

Our Sales Service

Our sales service includes all of the following:

a valuation followed by a written appraisal providing an overview of the local market with information on recent sales in the same apartment building and local area;
advice on how to present your property before bringing to market;
free professional photography and floor plans (Jpeg and PDF) as standard;
comprehensive advertising on all major property portals including On The Market, Rightmove, Primelocation and Zoopla;
circulation of your property brochure to all buyers registered with us and to all London based and international search consultants we work with;
advertisement and hosting of an open house to undertake a number of viewings on the same day, if required;
viewings undertaken 7 days a week and into late evenings, as and when this is required;
regular comprehensive and detailed feedback - this can be given after each viewing or on a weekly basis. Feedback can be given by email, phone or sms as is preferred;
introduction of a buyer, assessment of that buyer's financing and suitability and handling of negotiations with that buyer on your behalf and on your instructions;
after a sale has been agreed we liaise regularly with instructed solicitors or conveyancers, other estate agents and the buyer throughout the conveyance as it proceeds to exchange and completion; and
taking custody of keys and releasing keys to buyer on completion.

If you would like to request a valuation or just have a general discussion please send us an email to This email address is being protected from spambots. You need JavaScript enabled to view it. or call us on 020 7060 0450.

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Buying a Property with Thomas Michael

We have produced this guide to help buyers with their property search and also during the steps that follow when an offer on a property has been accepted. If the advice and tips provided here are followed, we believe the property buying process will be as smooth and stress free as possible.

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Our Buyers Guide

Buying a property, whether it be a home or an investment, is exciting and you may wish to explore a number of areas to see how they meet your requirements. Key to many peoples’ search is the commute to work and the local transport links, the lifestyle one wishes to lead and, of course, your budget.

We generally advise buyers to research and decide upon one or two areas prior to beginning viewings of properties. This will narrow down your search area and helps avoid ‘spreading yourself too thin’. You will then become an informed buyer in this area and when you finally find the property you have been searching for you will be in a position to make an offer confident in your decision and in the price agreed

Please email us at sales@thomasmichael.co.uk or call us on 020 7060 0450 to register your search criteria and contact details. We require your full name, email and mobile number. Please let us know your budget, the number of bedrooms you require, what areas you are looking in and also any other specific requirements. For example, you may be looking for a two-bedroom apartment on the Barbican Estate with a budget of between £850,000 to £950,000 or you may be looking for a modern one-bedroom apartment in Farringdon or Smithfield with a budget of between £500,000 and £550,000 but it must have a balcony and be within 5 minutes’ walk of Farringdon station. It is also helpful if you can provide a brief explanation of your buying position i.e. are you in a chain? Are you a cash buyer or will you be taking mortgage finance? Is this an investment or home search? What is your timescale for completing on a purchase?

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If you are keen to make a purchase in a specific apartment building and you want to ensure you aware of any apartments for sale as soon as they come to market, we would advise you finding out the precise postcode for that block. For example, EC2Y 8BD is the postcode for Gilbert House in the Barbican and EC1N 8QX is the Ziggurat building on Saffron Hill. The relevant full postcode can then easily be entered into the property portals as frequently as you wish and you will be aware of any new apartments for sale in that specific block.

We recommend you have your finances in place for the purchase before you starting looking. If you are taking a mortgage we recommend you have an agreement in principal (AIP) from a lender directly or via a mortgage broker. Prior to this agency advising one of our sellers to accept an offer we would wish to see an AIP, if applicable, and we will also wish to see evidence of funds for the purchase and associated costs (see below).

While you may not formally instruct a solicitor until you have had an offer accepted we do recommend that you have a solicitor lined up. Often asking family or friends for a recommendation of a solicitor they have used recently and received good service from is a starting point. We are also happy to advise you on choosing a solicitor or conveyancer and also can make a recommendation to you.

Prior to formally instructing a solicitor we do advise you speak with the solicitor and explain your timescales and expectations as to how the conveyance should proceed. Occasionally a solicitor may be very busy and this gives them the opportunity to decline your instruction if they do not feel they will be able to work to the agreed timescale to exchange and completion that has been agreed with the seller.

The simple advice is to make an offer at the price you feel the property is currently worth. This may be at the asking price, or below the asking price or above the asking price. Obviously, your understanding of the current market conditions will feed into your decision making. There is lots of information available to assist you with your decision; you may wish to look at recently sold or ‘under offer’ properties in the area, speak with other local estate agents and view properties on the market to get a feel as to what is going on locally and what your money will get you.

If you have done your research, know the area and become an informed and savvy buyer then you will be happy and confident in your decision when you do agree a purchase - which is what the seller and the estate agent also want you to be!

Once an offer is accepted we would require your full address and your solicitor’s details as soon as possible. This is so we can produce the Memorandum of Sale which is sent to the solicitors so they can begin the conveyance. It is likely we will have already enquired about your buying position (see above) and financing prior to an offer being accepted. If you are in a chain, we would require the details of the other estate agent(s) acting on the other sale(s) so we can liaise with them.

If you are taking a mortgage the next step is to arrange a lender’s mortgage valuation. This entails a visit to the property by a surveyor on behalf of the lender to ensure the property is broadly worth the price that has been agreed and it is adequate security for their loan. We always advise that this is organised as soon as possible after a sale has been agreed so in the unlikely event there is any issue with the surveyor’s valuation it can be addressed sooner rather than later.

A Homebuyers Report is often helpful if you are buying an older property, or an apartment in an older building such as a warehouse conversion. This will go into more detail and will highlight any work you might expect in the coming years. It costs more money but does offer peace of mind. Finally, there is a Full Structural Survey which you would be advised to undertake if you were purchasing an entire house or an entire building.

Property purchases will incur Stamp Duty. There is information on this here and your solicitor will also be able to advise you on this. You should discuss with your mortgage provider or broker as to whether there will be a mortgage set up fee or arrangement fee and the cost of the lender’s survey. On top of this there are the solicitors’ fees for the legal work carried out and there will be various other fees for searches of local and planning matters with the local authority and also administration fees for information requested off managing agents where the property is leasehold. These are organised by your solicitor and charged as disbursements to you.

Sales Terminology

This is the document produced by the estate agent that sets out the buyer’s and seller’s names and details and the terms of the sale, principally price. The agreed timeframe to exchange and completion is also set out on this document. The Memorandum is sent to the solicitors by the estate agent.

Also known as the ‘draft contract package’, this is the draft contract and associated documentation sent from the seller’s solicitor to the buyer’s solicitor that kicks off the conveyancing process.

This is also known as ‘exchange of contracts’ and is when a buyer and seller exchange signed contracts and become legally bound to the sale. Usually 10% of the sale price is paid by the buyer to the seller on exchange.

This is when the sale is completed i.e. you do what you contracted to do at exchange and the buyer becomes the legal owner. The balance of the sale price is transferred (usually 90% of the agreed sale price) to the seller and keys are released to the buyer, usually by the estate agent.

If you own the freehold, it means that you own the building and the land it stands on outright. It is your name in the land registry as “freeholder”, owning the “title absolute”. Most houses would be freehold and most apartment buildings or blocks are owned by a freeholder.

Leasehold means that you have a lease from the freeholder (sometimes called the landlord) to use the property for a number of years. The leases are usually long term – often 90 years or 125 years but as high as 999 years. Most individual flats and apartments are leasehold and the apartment building as a whole is the freehold. In the Barbican the freeholder is the City of London Corporation.

When the lease is 'low', often approaching or below 90 years, there is a legal process where you can pay the freeholder for a 'lease extension'. Most Barbican Estate flats had 125 year leases starting from 1981 and therefore are approaching 80 years left on the lease. If you are a Barbican leaseholder and you have not already extended your lease we would advise you to look into this without delay and liaise with the City of London. This agency can refer you to solicitors who can assist with a lease extension.

This occurs where the freehold is bought from the freeholder collectively by the leaseholders. You can do this as long as at least half of the leaseholders agree to buy a share. There are benefits to this as it gives you more control over your property and you will not have to pay ground rent. It also means you can extend your lease fairly easily.

This is the company that is responsible for the running of an apartment building or blocks of flats. The people who control this company will be leaseholders and they often do it voluntarily. In many apartment buildings, these people will often be referred to as the ‘residents’ committee’ or the ‘directors’. Every leaseholder becomes a shareholder in the management company.

The day to day running of an apartment building is often contracted out to a managing agent by the management company. In the Barbican the Barbican Estate Office and house officers essentially perform the task of managing agent for all of the blocks on the Estate. The managing agents are often chartered surveyors but you also get companies that are focused solely on ‘block management’. The agent will collect the service charge from leaseholders, deal with the accounts, organise cleaning and general maintenance, payment of building insurance etc.

This is the annual rent paid to a freeholder by leaseholders; an amount of £150 to £250 is common but it can be higher or lower. In the Barbican the annual ground rent for most flats is just £10 or 'peppercorn ground rent' as it is known.

This is the annual amount paid by leaseholders for the general running and maintenance of the building and common parts. The service charge will pay for building insurance, cleaning and general maintenance, electricity in the common parts, grounds maintenance and occasionally a contribution to a sink fund.

This is a fund that leaseholders pay into so funds are available for expensive jobs such as window, roof or lift replacement as and when they become necessary. The Barbican Estate does not maintain a sink fund for the blocks so major works bills are raised to leaseholders as and when required. The Barbican Estate office generally gives a good notice period when works are being considered and planned so no major works bills should come as a surprise and leaseholders are given time to budget for them.

A National House Building Council Certificate is an industry recognised standard for new build houses and apartments. It will provide a 10-year guarantee against any structural defects. In order to comply with NHBC regulations the building will be inspected throughout the build process to ensure that the build meets satisfactory standards and quality.

Customer Testimonials

We cannot thank you enough for all of your help with the sale. Your expertise and support have been invaluable throughout - from recommending a good solicitor through to organising redecoration etc. You have gone beyond the call of duty and we are immensely grateful for all you have done
Jane and Rodney Pearce Andrewes House, Barbican, EC2Y
I recently bought my flat on the Barbican Estate. Tom and Adam helped me achieve the impossible to complete within one month. It would not have been possible without their help, nothing was too much trouble. I thoroughly recommend them.
Carolyn Larkin Willoughby House, Barbican, EC2Y
At a rather stressful time when I was transferring my aunt to a care home, Tom speedily found me an excellent tenant and later another very suitable one. That rent covered the fees for my aunt's nursing home. Then, after she passed away, he was brilliant at finding a cash buyer super quick who gave me my asking price and the transaction went through without a problem. The whole lettings and then sales process could all have been a nightmare, but instead it all went smoothly. I am extremely grateful.
Hilary Blower Defoe House, Barbican, EC2Y
Very helpful, careful considered advice , Tom filled me with confidence and I think this firm is well placed for anybody looking to buy or sell property in the City of London postcodes.
Steve Honest The Lexington, City Road, EC1Y
Very proactive, communicated effectively with us, the buyers and our solicitors throughout the process. Sale of our flat went very smoothly.
Alison Murray Ben Jonson House, Barbican, EC2Y
I’m very glad to have switched to Thomas Michael Barbican Letting agency to find a tenant for my flat. Tom’s service is professional, attentive and thoughtful, and he delivers.
Jenny Ballantyne Ben Jonson House, Barbican, EC2Y
Tom has been my agent for a number of years now. He is professional, approachable, proactive, has up to date knowledge and a realistic view of the market, especially in difficult situations during Covid lockdown. Tom has been very responsive, always available, gives considered views and advice and manages negotiations effectively. I would not hesitate to recommend Thomas Michael.
Katherine Li The Lexington, City Road, EC1Y
Tom has found us ideal tenants for our flat on two occasions, both times literally within hours of us instructing him. We have been renting our flat out for 5 years and have only used him. Due to his expertise and professionalism, we moved seamlessly between tenants and he has provided us with help and advice in the interim also. We would thoroughly recommend him.
Alison and David Cadman Shire House, Whitecross St, EC1Y
Tom as fantastic, extremely professional. Always prompt to answer any queries and best of all found me a tenant as soon as the flat went online. Absolutely perfect, highly recommended.
Raul Arantes The Lexington, City Road, EC1Y
I have used Thomas Michael to rent out my flat in Old Street over the last ten years. On each occasion, Tom and his team have provided an excellent service. Courteous, good communication and responsive. Thanks to Tom's efforts, I have avoided any non-tenanted periods. All of the tenants that Tom has found me have been excellent and reliable.
Matthew Starmer Dufferin Street, EC1Y

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