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Date Year
02/01 2008
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Old Swan, Liverpool L13 - 3 bed mid-terraced property, modernised to very high standard
Ref 052
UPDATE -
The vendor has contacted me and asked me to find a buyer at his lowest possible price which is now £132,000 and not £135,000. This extra discount essentially covers your finders fee.
This is now 20% BMV with a minimal finder's fee.
If interested please email me immediately.
Vendor threatened with repossession / also separation from partner. 18.2% 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:
£ 165,000
Purchase Price:
(was £ 135,000) NB - now £132,000
Please adjust cashback and equity
figures below to reflect this new
price.
Below Market Value
By:
18.2%
Rentals
*:
£ 650 pcm (minimum estimate)
Finder's Fee:
£ 3,000
Cashback ** at 90% /
85% LTV £ 13,500 / £ 5,250
Equity
***
£ 24,750
Upfront Costs
Deal Fee:
£ 100
Survey:
£ 299
After Successful Valuation
FULL Finders
Fee:
£ 3,000
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.
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 / PROPERTY DESCRIPTION
Old Swan is a popular residential location with great links to the city centre and nearby motorways. It also has all the local amenities one would need in its compact village centre. Prices have risen well here against the trend, and there is a lot of rental. For area info click here, and for local government info please click here.
The property is a three bed, two reception mid terrace. It has a private flagged forecourt with space for two cars. It has been modernised to a high standard, and is immaculate. The vendor got into difficulties going overboard on the home improvements. The gas fireplace alone cost him 2.5k. The kitchen and bathroom are both newly installed to a very high standard.
The bathroom is a large room, was formerly three separate spaces - storage/toilet/bathroom - now converted into a luxury bathroom. Large corner whirlpool jacuzzi bath (I think I've got that right), double walk in shower etc.
The kitchen is immaculate too. Several rooms including the bathroom and kitchen have underfloor heating installed. French doors lead into the back garden.
The bedrooms are two average doubles and a single.
The only work needed is in the back garden, which is slightly overgrown and basic.
WHY BELOW MARKET
VALUE?
The vendor has got into serious financial difficulties. A secured lender has initiated repossession proceedings, but its early stages and can be easily overturned if a genuine serious buyer can be found.
The vendor also split up from his girlfriend and owes her and other minor debts need cleared. He intends to rent back for a very short period while looking for private rented accommodation.
If interested please note your interest.
WHAT OTHER INFO IS AVAILABLE?
- Photos, full - can be sent by email
- Deal Stacker with financial projections
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Finally
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Past and Current Deal Archive:
Archive
Disclaimer:No part of
this email constitutes or forms part of a contract. White & Co is not
a licensed estate agency or licensed investment advisor. White & Co
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.
Terms and Conditions Page
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Contact Information
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