White & Co Property Solutions Ltd
Date     Year
06/05    2008

Liverpool, Fazakerley L10 - 3 Bed mid terrace- 17% to you - repossession, rentback

  • Valued
  • GUARANTEED RENT - 6 months rent is being paid in advance
The Owner is about to be repossessed.  They have been made redundant. The vendor will pay 6x £500pcm rent in advance (making this deal actually around 20.4% BMV).

Ref 078
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:                                          £ 90,000
Your Price:                                               £ 74,700 (including FF)
Below Market Value By:                           17%
Rentals *:                                                    £ 500 pcm

*****

There are other ways of funding the deals to 85% LTV of valuation figure, leaving you with 2% towards your professional fees.

*****
   
Total BMV to you after Finder's Fee: 17%. 

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 £1,800 cashback which will help towards fees.   You will also receive a further £3,000 cashback from the vendor, which represents 6 months rent paid in advance.  This is agreed as part of the purchase price so you will definitely receive this.  You would need to put this aside to cover the mortgage payments.
             
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

3 bed mid terrace, 1 bathroom huge garden 100ft long, off road parking uPVC windows but no central heating.

It is in the area of Fazakerley to the northeast of the city.  L10 is a popular area for rental.

The guys wife has left him and he has two young sons.  The property is not very tidy and cosmetically not very appealing, more to do with the family circumstances than anything else.  However there is nothing wrong with the property.

The market value reflects the cosmetic work and central heating work needed. 

He has recently lost his job, looking for other work, but the bank has started repossession proceedings.  He is not in any position to defend this as he has no income apart from a pension.

As it can be proved he is out of work and repossession was otherwise unavoidable, it may be possible for him to get housing benefit.  In any case, the deal includes 6 months rent in advance which should provide plenty of time for him to get back to work.

As the vendor is renting back there is very little outlay, and six months assured rent.

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!