Gateacre, Liverpool L25 - 2 bed bungalow - relocation

White & Co Property Solutions Ltd

Date Year
8/12 2007

Gateacre, L25 - 2 bed bungalow - ref 050
Vendor needs to relocate out of Liverpool due to work and girlfriend. 21.7% BMV

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Kind Regards
Arlo

The Numbers

by Article Author		Basic Figures Market Value: Ł 120,000 Purchase Price: Ł 94,000 but see below Below Market Value By: 21.7% Rentals : Ł 575 pcm Finder's Fee: Ł 6,000 * Cashback at 90% / 85% LTV Ł + 14,000 / Ł + 8,000 Equity * Ł 18,000 This is the most generous BMV deal offered yet. See ** below. Upfront Costs Deal Fee: Ł 100 Survey: Ł 350 After Successful Valuation 1/2 the Finders Fee: Ł 2,500 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 Ł5,100 - a full 17.4% BMV to you even after accounting for finders fees !!!. 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 situated in a quiet ex local authority housing estate, which has now been predominantly bought up into owner occupation and most properties appear to have changed hands several times since. Gateacre, pronounced 'gataca' (and apparently not just because of the Scouse accent), is a popular overspill area mainly populated by middle class working families. Its popularity explains why much of the local authority housing stock has long since been bought up under the right to buy. Click on area and local government information here and here. The property is within walking distance of local amenities, easy arterial routes into the city centre, and quick links to the M62 and M57 motorways. You can view the location on googlemaps by clicking here. PROPERTY DESCRIPTION Gas central heating, double glazed throughout. Externally: The property has no garden area as such but a small gated and walled front yard and enclosed rear yard, with enough room for secure off road parking for two cars. There is plentiful parking nearby. Outside storage building (garden equipment) Inside: This bungalow has two medium sized bedrooms. The open living-dining area joins on to a modern fully fitted kitchen. The bathroom is a four piece white suite fully tiled and modern style. Cavity wall insulation last April. French DG doors to back yard which is enclosed and secure. There is absolutely no work needed to the property before reletting. Demand for rented accommodation in Gateacre is strong and rents are favourable. The new owner may be able to achieve higher rent than indicated above. WHY BELOW MARKET VALUE? The vendor has some minor debts, and travels several hours a day to his new work near Manchester. His girlfriend also lives in that direction and they have decided for him to sell up and move in with her. He understands he would be likely to wait until Spring until a buyer could be found on the open market, and is prepared to sell at a discount in order to move on with his life now. I also feel he has some other undisclosed reasons for selling at a discount. Please email your note of interest ASAP. WHAT OTHER INFO IS AVAILABLE? Photos, full - can be sent by email Deal Stacker with financial projections

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