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by Article Author
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Basic Figures
Market Value:
£ 80,000
Your Price:
£ 65,600 (including FF)
Below Market Value
By:
18%
Rentals
*:
£ 475pcm. Easy to get this on
Housing benefit due to changes in
assessment of rents.
*****
There are other 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.
Around £2,400 cashback for fees.
Upfront Costs
- Deal Fee (to secure the deal) £ 500 (subtracted from FF)
- Survey
£ 350
- 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
- '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.
- Both the AP and FF are private and will be revealed only to the investor chosen to proceed with this deal.
- The FF is payable upon completion and comes from your remortgage finance.
Upon Completion
- Broker (variable)
- Bridging Finance (if applicable, varies, normally a flat £500)
- Finders Fee (any remaining, see above, varies) - minus the Deal Fee which has already been paid to secure the deal
- Purchase Solicitor (typically £450+, plus VAT and disbursements)
- 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.
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AREA / PROPERTY DESCRIPTION
2 bed Victorian mid terrace in good repair.
This part of Bootle is popular due to local amenities and nearby transport. It is near the previous property (deal 081).
The house is in a good state of repair. The only thing that would need attending to is a gase safety cert, and possibly replacing the fuseboard with a modern unit.
The vendor wishes to rent back as she has fallen into arrears with her lender. Her outgoings are much higher than they would be if she were to sell and rent back. She is working full-time.
Please note your interest ASAP.
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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.
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