White & Co Property Solutions Ltd
Date     Year
03/06    2008

Manchester, Stretford M32 - 1930s 3-bed semi - vendor has put deposit down on another property - 24% BMV

This property is in a popular part of Stretford in Manchester.

The vendors need to sel urgently or risking losing a deposit they have put down on another property.

Due to the very large BMV figure, the buyer could comfortably get an 80% LTV mortgage (getting the better rates), with large inbuilt equity, and still get a considerable cashback.

Interest will be high so please respond quickly.

This had been offered out but the buyer has been unable to raise finance and is being re-offered.  Please respond ASAP, as the vendors are now very desperate to sell and may go elsewhere.

Thanks, Arlo

Ref 083
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:                                          £ 190,000
Your Price:                                               £ 144,400(including FF)
Below Market Value By:                          24%
Rentals *:                                                    £ 750 to 795. Nearby house in bad
                                                                         condition achieves £695pcm

*****

There are other ways of funding the deals to 85% LTV of valuation figure, leaving you with 9% towards your professional fees.

This would be a cashback of £17,100!

Alternatively at 80% LTV, thats 4% for fees, and £7,600 cashback

*****
   
Total BMV to you after Finder's Fee: 24%. 

Other cost would include broker fees and bridging costs.  This would attract SDLT at 1%.

             
Upfront Costs                          
  1. Deal Fee (to secure the deal)               £ 1,000 (subtracted from FF)
  2. Survey                                                          £ 350
  3. Search Fees (solicitor)                           £ 300
1 payable directly to me via PayPal or bank transfer within 24 hours of your acceptance to take on the deal. 2 payable to broker within 48 hours.  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

Property details:
 
Stretford 
Manchester
M32 9.. 
1930`s  
3-bed semi 
gardens F+R with garage
 L/hold £5pa
Kitchen 3yrs old
New roof,
fascias,
d/g,
re-wire
NOT ON MARKET

***

comps
 
last semi sold in rd Aug 07 £196k
semi on market now for £188k without garage
rents few doors down not in same condition  £695.
£750 achievable poss £795

Photos will be available shortly.  Full address etc only available if investor is offered the deal.
 

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. 

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.      

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