White & Co Property Solutions Ltd
Date     Year
23/04    2008

Aigburth, Liverpool, L17 - 4-Bed terrace repossession, rent back - 17.5% BMV to you

  • Not valued yet
  • Vendor agreed to drop sale price if the valuation lower than expected
  • discount therefore remains the same to you
This owners are about to be repossessed, they want to rent the property back.

Ref 073
Photo - Arlo 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
The Numbers
by Article Author Property Investment Image





Basic Figures
Market Value:                                          £ 160,000 (already RICS valued)
Your Price:                                               £ 132,000 (including FF)
Below Market Value By:                           17.5%
Rentals *:                                                    £ 1,300 on a multilet valuation.

*****

Mortgage Express have pulled all 'instant remortgage' products as of today.

There are , however, other ways of funding the deals to 85% LTV of valuation figure, leaving you with 2.5% towards SDLT and your professional fees.

*****
   
Total BMV to you after Finder's Fee: 17.5%. 

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 get just under £4,000 cashback which will help towards fees.  With 1% stamp duty and your professional fees, this will be either a no money down or a 'nearly no money down' deal.

The main attraction of course is that this property is in one of the most desirable areas in Liverpool to invest in property.
             
Upfront Costs                          
  1. Deal Fee (to secure the deal)               £ 500 (subtracted from FF)
  2. Survey                                                          £ 350
  3. 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
  1. '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. 
  2. Both the AP and FF are private and will be revealed only to the investor chosen to proceed with this deal. 
  3. The FF is payable upon completion and comes from your remortgage finance. 

Upon Completion
  1. Broker (variable)
  2. Bridging Finance (if applicable, varies, normally a flat £500)
  3. Finders Fee (any remaining, see above, varies) - minus the Deal Fee which has already been paid to secure the deal
  4. Purchase Solicitor (typically £450+, plus VAT and disbursements)
  5. 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.



The Details

AREA / PROPERTY DESCRIPTION

4 bedroom mid terrace, extra reception, the property is double glazed, GCH and needs no work doing to it.  The property is in a very desirable location in the Aigburth area of Liverpool. 

The owners want to rent the property back, but if they were to move on you would have no problem renting this property to students.  If this were the case you could easily achieve£1,300pcm.  The area has a high student demand as it is local to all colleges and Liverpool city center.

The vendors had been paying £1,600 towards mortgage and secured loan, but eventually found this too tough (naturally).  The owners have agreed to rent back at £800 per month, which they can easily afford (half of the previous outgoings).


WHY BELOW MARKET VALUE?

The owners are struggling with debts and about to be repossessed. They own there own business, earning good money, and should comfortably be able to afford the rent.  Failing that, on vacant possession, there is a strong student market and ample specialist letting agents aimed at this market who could manage locally.

Please note your interest ASAP.




Finally


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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. 

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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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