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Date Year
28/11 2007
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Fazakerley, L10 - 3 bed mid terrace - ref 042
Vendor debt issues, wants to move to rented accommodation in city centre. May need shortterm rentback. 19.5% BMV
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Greetings!
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Please see the last section for links to further information about this deal, and general terms and conditions.
If you wish to register your interest, or request further information, please email back. This does not commit you to proceed with the purchase.
Kind Regards
Arlo
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The Numbers
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by Article Author
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Basic Figures
Market Value: £ 95,000
Purchase Price: £ 76,500 but see below
Below Market Value By: 19.5%
Rentals *: £ 550 pcm (minimum estimate)
Finder's Fee: £ 4,500
(but see **** reduced FF offer)
Cashback ** at 90% / 85% LTV £ + 9,000 / £ + 4,250
Equity *** £ 14,250
Upfront Costs
Deal Fee: £ 100
Survey: £ 350
After Successful Valuation
1/2 the Finders Fee: £ 2,000
Search Fees (solicitor) £ 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 £900 - £1,100 inc VAT + disbursements)
Vendor's Solicitor (normally a flat £500)
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 £3,825 - a full 15.5% 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.
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The Details
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 AREA DESCRIPTION
The property is situated in a quiet mainly owner-occupied estate off Longmoor Lane, two bus stops from the main Fazakerley (Aintree) Hospital (click here for location map). The properties are not ex-local authority, and were built in a private development during the late 1970s. There does appear to be a healthy local private rental market.
The property is within walking distance of local amenities but would be attractive mainly to working families.
PROPERTY DESCRIPTION
Gas central heating, double glazed throughout.
Externally: access through a pedestrianised cul-de-sac. There is a bay with plentiful carparking spaces nearby. The property is traditional brick and tile roof with a small front garden area. The back garden is fairly overgrown and the vendor has admitted she hasn't the time for a garden and would prefer to rent a flat nearer her work in the city centre.
Downstairs: porch leading in to living room with open stairway upstairs, and through access into a small kitchen-diner. The kitchen is very dated and would need to be replaced before rental, but the living room and decor is fine.
Upstairs: two medium sized bedrooms, and a single (box) room.
The property is modernised and decorated fine, inc GCH and double glazing.
The house is fine except for the need for a new kitchen - although this is desirable and not essential (and the expected valuation will reflect the current condition).
Considering the low purchase price this house should cashflow well to a working family at a decent rent.
WHY BELOW MARKET VALUE?
The vendor works in the city centre and live with her brother. They are both in their late 20s / early 30s. I don't believe they have any other family. The vendor has a secured loan and a mortgage and is finding it difficult to cope financially. Her brother also lives there 'can't get rid of him' - and she wants to move to the city centre and get shot of her brother too I think. Her brother came across as a bit of a lazy bloke and I think he sits about all day smoking and sponging off his sister. The house isn't on the open market.
The vendor is really motivated to have a fresh start away from her brother and debts. Ideally she would like to sell, rent back in the short-term (email me for details of what I have agreed for her), and find a one-bed apartment nearer the city centre.
Please email your note of interest 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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Finally
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Past and Current Deal Archive:
Archive
Disclaimer:No part of
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is not authorised by the Financial Sevices Authority to give investment or
financial advice.
Terms & Conditions:
By replying to this email, or emailing back with the deal / lead reference number, you acknowledge and agree to the terms and conditions should you be chosen to purchase this lead and you then agree to proceed. Please note 'stating an interest' or requesting further information does not commit you to anything.
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