Kimmel Bay, North Wales LL18 - 3 bed detached bungalow

White & Co Property Solutions Ltd

Date Year
22/01 2008

Kinmel Bay, North Wales - 3 bed detached bungalow property, within 10 mins drive of North Wales largest hospital (Glan Clwyd Hospital)

- Seller needs a quick sale due to financial difficulty. They are already scheduled to move to a rented accommodation in two weeks time, hence need a quick sale. At least 18% BMV.

Ref 058

Greetings!

Welcome to the new-look, simplified Done Deals Alert.

You can view previous and current Done Deal Alerts by clicking here: Archive Homepage

Please visit this site if you have recently joined our subscriber list.

You can receive Done Deal Alerts to your mobile. To sign up to our text message alert service click here: Text Alerts

Please see the last section of this email 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

The Numbers

by Article Author		Basic Figures Market Value: Ł 175,000 Purchase Price: Ł 143,000 Below Market Value By: 18.3% plus Rentals : Ł 600 pcm* singlelet Finder's Fee: Ł 1,000 (BUT see below) Cashback at 90% / 85% LTV depends on valuation Equity * Ł 30,000 or more Upfront Costs Deal Fee: Ł none - finder's fee due now as already valued - see below (**) Survey: Ł 299 After Successful Valuation Finders Fee: Ł 500 half-payment or Ł 1,000 full-payment (see below) 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 willing to take Ł1,000 in one payment now, rather than Ł500 x2 payments (once upon valuation (i.e., now!) and once upon completion). In other words if you pay all now, then you will have 17.7% in the deal to you, after finders fees have been paid. This is a very generous deal, now urgent, considering it has already been valued and fully agreed. Please let me know ASAP. 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 / PROPERTY DESCRIPTION This part of Kinmel Bay is just within a walking distance of Bodelwyddan where the biggest hospital of North Wales is located (Glan Clwyd Hospital). It is just a 10 minutes drive to the hospital, 1o minutes drive to A55 motorway (going to Chester, Manchester, Liverpool). The train station and Rhyl City Centre is also just 10 minutes drive, basically it is at the middle of everything you need. Because of its very near proximity to the hospital, the property is very popular to hospital employees (doctors, nurses, professionals), and it is also within 10-15 minute drive to nearby business parks (St Asaph Business Park, Abergele Business Park). Properties of this type and quality are sought after and very popular for lettings. It can be rented out for Ł575 - Ł600 per month. Check sample letting here: http://www.rebletting.co.uk/properties/property/view/id/312/lastPage/3 Average prices of this type is around Ł175,000 to Ł185,000. Check out these lists: 1. Ł179,995 (same street) http://www.rightmove.co.uk/viewdetails-16506307.rsp?pa_n=1&tr_t=buy 2. Ł184,950 http://www.rightmove.co.uk/viewdetails-6514164.rsp?pa_n=1&tr_t=buy 3. Ł185,000 http://www.rightmove.co.uk/viewdetails-7693743.rsp?pa_n=1&tr_t=buy The property itself is well maintained. It has a new kitchen, garden, central heating and big conservatory roughly 2 years old. An off-street parking for 2 cars very ideal for professionals and families alike. Gardens to the front and back. Double-glazed windows and doors. It has 3 good sized bedrooms, a lounge with a new fire place, and bathroom. WHY BELOW MARKET VALUE? The vendor is now desperate to sell as they are having a financial difficulty and they are already scheduled to move to a rented accommodation. They want a quick sale to get rid of the monthly mortgage and loan payment. WHAT OTHER INFO IS AVAILABLE? Photos, full - can be sent by email Deal Stacker

Finally

Past and Current Deal Archive: