White & Co Property Solutions Ltd
Date     Year
30/04    2008

Wallasey, nr Birkenhead, CH45 - 1 bed semi detached bungalow - debt issues - 18% 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 vendor is a landlady who is selling her home and this property to fund a move to live near relatives in the southeast.  She has several business debts she needs to clear with the sale.


UPDATE - this is now 18% BMV.  I have adjusted the figures below.  Its now completely 'no money down'. 

Ref 076
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.

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Arlo
The Numbers
by Article Author Property Investment Image





Basic Figures
Market Value:                                          £ 90,000
Your Price:                                               £ 73,800 (including FF)
Below Market Value By:                           18%
Rentals *:                                                    £ 450 pcm approx

*****

There are ways of funding the deals to 85% LTV of valuation figure, leaving you with 3% towards your professional fees.

*****
   
Total BMV to you after Finder's Fee: 18%. 

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 £2,700 cashback which will help towards fees.  This should therefore be a 'no money down' deal - for a low-value, highly rentable property.
             
Upfront Costs                          
  1. Deal Fee (to secure the deal)               £ 500 (subtracted from FF)
  2. Survey                                                          £ 300
  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 part of a converted 1900s terrace.  It is an attractive 1 bed semi, with modern decoration in neutral colours internally.  Laminate floor downstairs and fairly new carpets.

The property has a 5yr combi boiler, is double glazed, 2007 new kitchen, perfectly serviceable but slightly dated bathroom.  There does not appear to be any works needed.

There is no garden but ample carparking space and a small yard.  The property should let for around 450 pcm.  Wallasey is a popular area with a small local town centre (10 mins walk), and good transport networks to Liverpool and Birkenhead.

Previously the property had been on the market for 98k (priced for a quick sale), but has been taken off recently to facilitate a cashbuyer getting a valuation.  The vendor has signed a contract to agree to a proportionate discount should the valuation come in lower - so the 18% BMV wil remain the same to you.


WHY BELOW MARKET VALUE?

The vendor has business debts and needs to sell up, pay off debts, and the remaining proceeds from the sale of this rental property and her own home will pay for her move to the southeast of England.

Please note your interest ASAP.




Finally


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