White & Co Property Solutions Ltd
Date     Year
26/04    2008

Sefton Park area, Liverpool L17 - studio flat, ill health forces sale - 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
The owner is very ill, can't work and so has fallen into arrears.  He needs to sell up, plans to rent back short-term to recoup from operations, then move to villa in Spain. 

Ref 074
Photo - Arlo 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 Property Investment Image





Basic Figures
Market Value:                                          £ 137,000
Your Price:                                               £ 113,000 (including FF)
Below Market Value By:                           17.5%
Rentals *:                                                    £ 650 approx

*****

There are several 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. 

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

This is a studio apartment in a converted Victorian mansion block overlooking Liverpool's well-known Sefton Park. 

Originally the property was on the market for £164,950, and then it was reduced to £145,000.  I have seen two valuations by local estate agents which back up these prices.  However I think it is likely to come in under 140k.  The vendor has agreed a proportionate drop should the valuation be lower, so your BMV should remain the same.

The property itself is attractive and ready to let with minimal effort, and has great views towards the park.  There is ample parking and the area is generally good with many young professionals.  This particular building is entirely owner-occupied and the neighbours appear to be very friendly with each other. 

It would make an attractive let for a professional single and the enduring popularity of the area should mean that there would be little difficulty finding a tenant.


WHY BELOW MARKET VALUE?

The vendor has just had an operation for removal of cancer, sadly he has discovered that he has secondaries in his liver.  At this stage he wants to recoup, move on, hopefully to his villa in Spain.  He may therefore require a shortterm rentback.

The vendor is willing to drop his price propertionately should the valuation come in lower than expected.

Please note your interest ASAP.




Finally


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
 
Contact Information
Mobile:  07792 843389 		Join our mailing list!