Runcorn WA7 - 3 bed end terrace - vendor agreed another house

White & Co Property Solutions Ltd

Date Year
26/11 2007

Runcorn, Cheshire WA7 - 3 bed end terrace - ref 041
Vendor has agreed on another property. Nice professional area. Property with planning permission granted for major extension. 15.2% BMV

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Kind Regards
Arlo

The Numbers

by Article Author		Basic Figures Market Value: Ł 125,000 Purchase Price: Ł 106,000 but see below Below Market Value By: 15.2% Rentals : Ł 600 pcm (minimum estimate) Finder's Fee: Ł 1,800 (but see * reduced FF offer) Cashback at 90% / 85% LTV Ł + 6,500 / Ł + 250 Equity *** Ł 18,750 Upfront Costs Deal Fee: Ł 100 Survey: Ł 350 After Successful Valuation 1/2 the Finders Fee: Ł 900 Search Fees (solicitor) Ł 300 There may be other fees depending upon finance arrangements Upon Completion Broker (typically 1%) Bridging Finance (if applicable, varies) Any remaining Finders Fee (see above, varies) Purchase Solicitor (typically Ł900 - Ł1,100 inc VAT + disbursements) Vendor's Solicitor (normally a flat Ł500) Notes All mortgages are subject to survey and the purchasers own financial standing. Figures given are for illustrative purposes only. * This is usually given as a conservative minimum, or if the property is already tenanted, what is currently being paid by the tenant. Cashback is a raw figure, not taking into account all the various deductions that are taken out upon completion - such as mortgage setup fees, broker/bridging/solicitors/finders fees, stamp duty where applicable, etc. If the number is given in blue, this mean the deal requires CASH IN at this LTV figure (plus associated costs as mentioned). Cashback is possible due to the unique methods of purchase we will teach you (we can get you a mortgage based on the open market value, and not the purchase price) * Please read above note. The figure assumes a standard 85% LTV mortgage and does not account for fees and charges added to the loan amount, which reduces the equity proportionately. **** I am offering a one-off discount of 15% on the Finders Fee if paid in total upon successful valuation (which would cost ONLY Ł1,530 - a full 14% BMV to you even after accounting for finders fees. The reason for this is to raise cash quickly for a refurb I am doing. FINALLY - please remember we can provide you with a 'deal stacker' template (MS Excel - if you do not have Microsoft Office please contact me for an alternative). This spreadsheet will give you a much more comprehensive financial analysis, which also allows you to play with the variables involved, and allows you to compare and contrast different mortgage products.

The Details

		AREA DESCRIPTION The property is in an ex-local authority housing estate. This attractive Palacefields estate was originally a private housing development but the building firm ran into financial difficulties and had to be bailed out by the local authority who absorbed it into their stock. The vast majority are now privately owned and the estate is mainly working families. Runcorn itself is within easy commute to Liverpool and Manchester (via motorway links), within easy access to both major airports, and is also on motorway links to Chester/North Wales and Birmingham/The South. Please review the map here. Runcorn is a thriving town known for its business parks and industrial areas which ring the town. It is showing strong economic growth and is an attractive place to purchase as property is still relatively cheap. For area information and downloads please read the following links: local newspaper, merseyside investment, local government, area info .pdf file. PROPERTY DESCRIPTION Externally: cul-de-sac position with garage in front of the house, side gate and yard, leading to back raised garden and conservatory. Interesting 70s dsign of house with tiled wales and shallow pitch roof. Downstairs: porch, lead to hallway with access to downstairs WC/sink, living room, and kitchen-diner (leading on to conservatory). Kitchen is fully fitted all appliances integrated. Upstairs: three generous sized bedrooms and a large family bathroom. Bathroom has corner whirlpool bath, separate shower cubicle, fully tiled throughout. The property is modernised and decorated to a high standard, inc GCH and double glazing. The vendors secured planning permission to turn the side yard into a side extension (two storey), for which plans are available. Permission lasts another three years approx. The extension will turn it into another (v large) reception, turn the downstairs WC into another full bathroom, and add another two bedrooms upstairs. This is the only property in the area with this side ground, so it would be a uniquely large property in a popular estate, and represents 'future capital' for any buyer. Estimates of 20k for the extension, but it could add double that to the value of the property. 5 mins drive to shopping city, and 5 mins drive to Halton Hospital. Walking distance to local amenities and public transport - this house would rent out well to a working family at a good rent. WHY BELOW MARKET VALUE? The vendors have seen another property. My feeling was they have actually committed themselve with a downpayment, exchange of contracts, or just emotionally, to this other property and don't want to miss out at any cost. There has been another cashbuyer trying to purchase at a higher figure, but he has messed them about so much they have come to me to get this deal completed quickly. Please email your note of interest - I need to get this one done ASAP. WHAT OTHER INFO IS AVAILABLE? Photos, full - can be sent by email Room dimensions / descriptions Deal Stacker with financial projections

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