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Date Year
11/04 2008
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Liverpool L33, Simonswood area of Kirkby, 3 bed semi, nice area in popular location - 17.3% BMV to you
This property will be completely 'no money down' - and does not need any work upon completion.
- Valued
- Searches started
- 3 bed semi detached
- Ex Barratt Homes (1970s) - good design and cosnstruction.
This semi detached is situated in Simonswood area of Kirkby to the northeast of Liverpool.
This is the vendor's old home from first marriage, she lives nearby. A family friend is currently staying in the property, but will be out before completion. Penalties can be put in place and I will ensure that it does not complete until there is vacant possession.
The vendor is trading in her properties to buy a villa and emigrate to Portugal, and has agreed to buy a property there already.
Ref 070
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Greetings!
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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
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The Numbers
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by Article Author
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Basic Figures
Market Value:
£ 110,000 (already RICS valued)
Your Price:
£ 91,000 (including FF)
Below Market Value
By:
17.3%
Rentals
*:
£ 600 pcm single let
*****
This should fit Mortgage Express instant remortgage criteria!
*****
Total BMV to you after Finder's Fee: 17.3%.
You will need to reimburse for the survey, and cover both sets of legal fees. Other cost would include broker fees and bridging costs.
You will £2,500 cashback which will help towards fees. You can expect this to be a no money down deal.
Upfront Costs
- Deal Fee (to secure the deal) £ 500 (subtracted from FF)
- Survey
£ 300
- Search Fees
(solicitor)
£ 300
1 and 2 payable directly to me via PayPal or bank transfer within 24 hours of your acceptance to take on the deal. 3 is payable to the solicitor, unless otherwise stated above.
Finder's Fee
- 'Your Purchase Price' - see above - is calculated by adding the actual Agreed Price (AP - agreed with the vendor) to the Finder's Fee (FF) payable.
- Both the AP and FF are private and will be revealed only to the investor chosen to proceed with this deal.
- The FF is payable upon completion and comes from your remortgage finance.
Upon Completion
- Broker (variable)
- Bridging Finance (if applicable, varies, normally a flat £500)
- Finders Fee (any remaining, see above, varies) - minus the Deal Fee which has already been paid to secure the deal
- Purchase Solicitor (typically £450+, plus VAT and disbursements)
- Vendor's Solicitor (normally a flat £500)
On a typical £100,000 property, all the fees, should come to around £2,000 - £2,500 (excluding the Finder's Fee).
Notes
All mortgages are subject to survey and the purchasers own financial standing. Figures given are for illustrative purposes only.
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
The property is situated in Simonswood, Kirkby (click here). This part of Kirkby is quite popular and mainly owner occupied, with some rental both private and housing association / local authority. I believe this property will let really easily and requires next to nothing doing.
It is a 2 bed semi, in attractive order and ready for letting. It has a decent back garden and driveway for two cars.
Small entrance porch, tiled floors throughout down stairs, newish kitchen. Upstairs white bathroom suite.
The property has a nice size garden but the fence to the right does need replacing. Plastered walls throughout with plain but modern decor.
WHY BELOW MARKET
VALUE?
This is the vendor's old home from
first marriage, she lives nearby. A family friend is currently staying
in the property, but will be out before completion. Penalties can be
put in place and I will ensure that it does not complete until there is
vacant possession.
The vendor is trading in her properties to buy a villa and emigrate to Portugal, and has agreed to buy a property there already.
The vendor was under the impression that the house was worth a lot less than it really is, and this helped to negotiate a good price. She doesn't have many other options in the current market, as she needs to complete on her Portugal property or risk losing it (paid deposit already or something).
Please note your interest ASAP.
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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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